STAKING WITH COMDEX

The blockchain and crypto space is known to be very vast and as we all know, only users who are considered flexible tend to make the best out of this space. Like it is known also, these sams flexible users get to get rewarded for their active participation with rewards from airdrops, juicy APY’s /APR’s e.t.c.

Staking has been discovered to be a gret=at way to earn rewards while contributing to a project and this article will take us on a journey on the Comdex Staking program.

WHAT IS STAKING?

Staking can be considered as the process of delegating or locking up crypto holdings to earn rewards.

“Staking is a term used to refer to the delegating of a certain number of tokens to the governance model of the blockchain and thus locking them out of circulation for a specified length of time,”

Nicole DeCicco, founder of CryptoConsultz

ABOUT COMDEX

Comdex is a Cosmos SDK-based decentralized synthetic assets system. Users can use the Cosmos ecosystem to collateralize their holdings and gain exposure to a variety of synthetic assets. Comdex creates products that help to democratize finance by exposing investors to a diverse variety of asset classes. Stormtroopers on Comdex are those who are passionate about Defi, Synthetics, and Commodity Trading and want to spread the word about Comdex throughout the ecosystem.

STAKING $CMDX

Staking is an important component of POS architecture that allows CMDX holders to delegate their coins to validators who protect the network in exchange for rewards. As the Comdex platform’s user base grows, these benefits will be supported by platform fees rather than inflation. CMDX token holders can currently stake their tokens in three places.

$CMDX which is considered the native token of Comdex has been linked to numerous use cases to users and holders and a lot of rewards are in line for these same users.

Below are the use cases of the $CMDX token:

  1. Governance : Drive key decisions for the protocol via proposals

2. Collateralization : Mint synthetic assets with CMDX as collateral

3. Rewards : Earn liquidity mining rewards

In a bid to reward users, Comdex has opened a series of staking programs on secure and trusted platforms where users can staake and earn rewards.

Users can now stake their $CMDX tokens on the following platforms:

  1. Unagii: The automated DeFi yield platform with staking services. All the convenience and none of the hassles for smarter access to DeFi yields.

Users can now take their $CMDX tokens on Unagii and are entitled to 56.81% APY.

Get started here -Unagii

2. Omniflix: Provides POS services as well as the ability to Create tokenized assets & communities, platform to self-publish digital media & NFTs from across networks.

Get started here: Omniflix

3. Cosmostation: Cosmos ATOM validator and ecosystem provider based in Seoul, South Korea. Providing node operations and tools for Cosmos, IRIS, Terra and Tendermint based chains

Get started here: Cosmostation

CONCLUSION

As it is widely known, Blockchain rewards active participation and here is a good chance for users to let their tokens work for them while they earn rewards.

Learn more about Comdex

Telegram Community Chat: https://t.me/ComdexChat Telegram

Announcements: https://t.me/ComdexAnnouncements

Reddit: http://reddit.com/r/Comdex/

Discord: https://bit.ly/ComdexOfficialDiscord

Website: https://comdex.one

log: https://blog.comdex.one

--

--

--

I’m a relatable life writer . Currently developing content for Web3, Defi and blockchain projects and communities.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

DeFi Taxes Explained

How do DeFi taxes work?

MILKYWAYEX X DAWN OF GODS

The Special NFT Collection “Zodiac NFT, Lucky Prize, Lucky Year” will be released by Creator…

Checking on El Salvador Bitcoinization: Study by the University of Chicago

Bitcoin History Immortalized: New $MEME NFT Collab with Bitcoin Origins

We introduce you NOVA DAO

Securities Token Offerings (STOs) in Switzerland

Teach you how to buy $BLT Blocto tokens in three minutes!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Bassey Saviour

Bassey Saviour

I’m a relatable life writer . Currently developing content for Web3, Defi and blockchain projects and communities.

More from Medium

JUN Capital Invests in Aleph Zero

Liquid Staking — Bringing solutions to the Proof-of-stake

BODH Token

Starcoin’s standard NFT protocol