A new direction for CMDX ecosystem

Comdex Discussion
1

I have been thinking about some changes that could be very beneficial to Comdex ecosystem. We are all aware of how CMDX has suffered recently despite consistently shipping products for Cosmos. So here are some changes that I think Comdex should implement. I am interested to take this forward as a proposal as well once I get to hear the thoughts of my fellow community members on these. I have mentioned each of the proposed changes with my reasoning below. I request everyone to take time and provide their thoughts-

  1. Cut inflation by half

Looking at the way CMDX token price is performing I think finding ways to make the tokenomics more effective has to be our focus. I believe cutting inflation by half will help in that effort to slow down CMDX inflation before it reaches its max cap.

  1. Launch stCMDX on stride

I think one move that will be highly beneficial is to launch stCMDX. I remember the team has a spaces with the stride team where this was discussed but nothing has happened since then. Launching of liquid staked CMDX will help overall liquidity of CMDX ecosystem

  1. Make stCMDX the primary liquidity token of cSwap DEX

Make every asset on cSwap to be paired with stCMDX. There will be more usage and liquidity for stCMDX and it will be beneficial to all of us as users as well. It will greatly reduce the need to use CMDX as incentive for liquidity as people will earn their own staking reward as well.

  1. Make stCMDX-stATOM the master pool of cswap

Build most liquidity in this pool. Every LP earns staking rewards of both. CMDX rewards here should be enough to compensate for lost rewards from LP in other pools.

  1. New direction for Commodo-

For a long time I feel Comdex needs to carve its own PMF by creating products that are innovative and can compete in their respective markets. One such product is Commodo. It has a unique design but currently can’t compete with others like Umee and Mars. Before we begin to heavily incentivise commodo liquidity with CMDX rewards we should think about the general direction for Commodo. With regards to that, I propose the following:

5.a. Make Commodo a liquid staked assets lending borrowing market. Position commodo to be a platform with cPools for all stride liquid stake assets. This is one domain that there isn’t any competition in at the moment. The current design of Commodo is well suited to liquid staked assets.

5.b. Make stATOM as the transit asset of all pools instead of ATOM. Reason for this is, again, straightforward. Better yield. Better adoption. More users.

I think the true focus for CMDX improvement should be to:
a) wherever possible, change CMDX tokenomics for better value preservation
b) tweak existing products to highlight their strengths

Please provide your comments and thoughts

3 Likes
2

Interesting angle @tyrionscammister!

I think it is good to align with @SyndicateMike on the thoughts of the direction of the platform (Proposal Module 1 Lazarus - #18 by Leonoors_Cryptoman).

If we want to move into the direction of THE place to be for liquid staked assets, then we have to move fast. There are some DEXxes and such starting which target that group already. Maybe it is good to not only limit ourselves to stAssets, but also looks at the ampAssets, qAssets and such. Become the place where you can trade your qATOM to stATOM to pATOM and whatever more. And use the lending, minting stables and such indeed a follow-up on that.

3 Likes
3

I agree! The only reason I didn’t want to club this proposal with Lazarus is because I believe the changes I proposed are within what already exists in Comdex. A lot of what is proposed in Lazarus has to do with things that will take time to build. I look at these two proposals as being independent. Lazarus is long horizon while this should be something more immediate.

I think for something like Commodo (with limited brand presence) it should be easy to pivot to being a money market for Liquid staking asset (which includes non-stride assets as well). Lending-borrowing market platform for liquid staking could be a big for Cosmos ecosystem with so many new Liquid staking platforms.

If we get stCMDX then we can start using that in apps in Comdex rather than CMDX and that will be better

Thanks for your feedback.

4 Likes
4

This is a great idea im in full support

1 Like
5

I appreciate the thought put into this discussion, and I agree with some of the points raised. Here are my thoughts on each proposal:

  1. In my opinion, inflation is not the primary issue for CMDX’s performance. With multiple dApps, Comdex can utilize inflation effectively. Instead, we should focus on education, awareness, and better UX.

  2. Absolutely in favor of launching stCMDX on Stride. It’s the best choice for a liquid staking derivative.

  3. While I see the benefits of pairing stCMDX with multiple assets, I don’t think we should dilute CMDX branding by making its LSD the primary asset.

  4. Similarly, I wouldn’t make stCMDX/stATOM the master pool. Instead, consider it as a second master pool alongside the existing one.

  5. As a user, I suppose first team will need to start the cPools & rewards structure. Or perhaps they should focus on Harbor & cSwap completely for the time being, developing deeper liquidity there before considering Commodo’s direction.

Additionally, I believe there’s an urgent need for decentralized front-ends for apps.

Overall, I support the base idea of the discussion but don’t feel that an LS version should be the base asset. Comdex should work on improving its branding better directly

1 Like
6

Thanks for your feedback here. I appreciate it.

Let me tell you my reasoning for each point. But either of us could be right.

  1. Inflation isn’t the primary issue but it’s one of those things that we can fix now and buy some more time to work out a more effective tokenomics change in CMDX. In terms of the listed initiatives-

a) education & awareness: agreed. Maybe team should work on some video content that can educate users. alternatively someone who is knowledgeable about it in the community should do it. If they were to raise a proposal for a grant from community dev fund, I would support and vote YES.

b) better UX: from my understanding this is something that is needed regardless. Like no matter how good the UX becomes there should always be room to improve it.

  1. I dont see it as a dilution of the brand. By making all pools paired with stCMDX, liquidity of stCMDX will increase. More CMDX will be taken out of supply and staked. I think CMDX brand is more than just cSwap, its the whole eco of platforms.

  2. Having two master pools is tough since everyone will simply move liquidity to whichever offers more rewards. But regardless, I feel people will try to get most liquidity in the stCMDX/stATOM pool as there will be farming rewards + staking rewards from two assets. This will build depth of liquidity. If we eventually pivot Commodo to be a lending borrowing market for LSD then having depth of liquidity in stATOM and stCMDX will help.

  3. agreed. but since there isnt much adoption yet, it would be easy to make the pivot for the platform now. Later on, once people have started using it, changing the primary transit asset can become difficult.

Re Decentralised FEs- I agree. I think Mike and the team @ syndicate are already on it so I will be keeping an eye on that.

2 Likes
7

The UX part can be done in cooperation with @SyndicateMike I think?
Because it was also a topic in the other thread.

I do think we should try to merge the two (wonderful) initiatives to avoid doing things in two separate directions, which will only hurt the project in the long run imo. And I think they can build on each other instead of hurt each other.

3 Likes
8

Currently weve been having problems uploading the UX. It is on Comdex to update their code

9

About the UX part- I personally have 0 knowledge and expertise in how to build good UI. I’m just a user who think its needs to improve but I don’t know how specifically.

I don’t think these two proposals should be merged because they are fundamentally different in their approach. Both are targeted to improve CMDX chain and token. But my proposals are more to do with tweaks that can be made to existing platforms. This is more of short term relief. Lazarus is long-term and will require more development to achieve. But everything I proposed is conditional on stCMDX being developed soon.

10

O yeah, I understand the short and long term difference in content of the proposals.

But it would be bad if we do things on the short term, which are hindering us for the long term development. So plans need to be aligned. And I do see common grounds (focus on UX/UI for example), which can be perfectly matched in both proposals. And maybe the team from @SyndicateMike can help on making that a reality.

And I can imagine more things can build on top of each other, but we need to make sure they won’t prove to be a burden in the long run if we take decisions now. So alignment between plans is very very crucial.

11

We have paused all further developments until #1 We finish the Hackathon with Delphi, #2 The application of the Accelerator is approved #3 Version 3 of the current Comdex products. Our product isnt feasible without Veharbor emissions.

1 Like
12

Do you have a rough timeline on parts of (some of) these topics?

1 Like
13

Yes, Hackathon is going to end in June, Accelrator in July, V3 of products IDK ask @Ismail or @Shanky1

1 Like
14

Hello Community,

Seeing some of the recent discussions and suggestions raised by community members in the Forum, we have begun exploring the possibilities of further integrating Liquid Staking Derivatives - LSDs on Comdex’s dapps. At Comdex, we strongly believe that integrating LSDs into DeFi can enhance efficiency and provide higher yields for the end users.

In the thread below, we would like to discuss the potential pros and cons of using stATOM (instead of ATOM) as a transit asset on Commodo. If implemented, the new transit assets will be stATOM and CMST, where new cPools will look like XYZ-stATOM-CMST.

What are transit assets on Commodo?

Commodo adopts an isolated money markets strategy that leverages “Transit Assets” to provide liquidity across distinct cPools. Each asset on Commodo, such as OSMO, has its own cPool, which would be paired with stATOM and CMST. This structure allows users to lend and borrow any of these three assets from this pool.

Given that each cPool would include stATOM and CMST, users can effectively lend and borrow assets across different cPools by using either stATOM or CMST, as these assets are common across all cPools. For example, to borrow OSMO against CMDX, a user can borrow stATOM against OSMO and then borrow CMDX against the borrowed stATOM.

Due to their role in facilitating liquidity across cPools, stATOM and CMST are referred to as “Transit Assets” within Commodo.

Why should we consider stATOM as a transit asset instead of ATOM:

In its existing model, users of Commodo can lend ATOM as a transit asset to any cPool on Commodo. However, utilising ATOM to earn lending yield also means that users actively forego the staking rewards (~20%) that could be earned from staking the ATOM instead. Utilising stATOM would help Commodo greatly as it would eliminate the staking opportunity cost of lending ATOM on Commodo. This would help significantly improve the state of transit asset liquidity on Commodo as more users would be able to earn higher yield on their ATOM holdings. The increased transit asset liquidity on Commodo is also greatly beneficial to the health of the protocol. stATOM has also built considerable liquidity across the ecosystem, which makes it easy for all users to acquire and use on Commodo.

What happens to the current cPool; CMDX-ATOM-CMST?

If stATOM replaces ATOM as a transit asset on the platform, this pool will be deprecated, ie the users will be able to withdraw assets and repay debt from this pool. Creating new lending and borrowing positions from this cPool will be disabled. From the My Home page or the Markets page, users will be able to access the Deprecating cPool and withdraw their funds. A step-by-step guide will be published for the same.

We request the community to give us their valuable opinion and feedback on this transition.

We would be happy to answer any questions/queries you may have regarding the same.

1 Like
15

great concept i agree with it

16

The concept seems ok, since people have doubts whether to let go of their ATOM staking APR in favour of joining liquidity pools. One thing to think about is which provider to use for the LSD, and whether it would not be possible to find a method where different providers can be used. There is a risk in putting all the eggs into the basket of one provider, which makes you dependable on the success of that provider. So that might be something to consider.

Furthermore; how does the borrowing using a cSwap pool work? Because that would be different than trading if I’m correct reading this if you interact with the pool. You can’t take an asset out without changing the balance in the pool and thereby affecting the price. But that is not what borrowing is about (as far as I am aware).

1 Like
17

@Leonoors_Cryptoman valid point, putting all eggs in one basket is not the best way. We are looking into possible solutions for the same. Although considering the present situation we feel stATOM from Stride is the most liquid of the LSDs and it is the best choice as a transit asset on Commodo rn.

Secondly, I think there is a misunderstanding, cPool refers to Money markets on Commodo and not cSwap pools. For example, XYZ money market/cPool on Commodo will look like, XYZ-stATOM-CMST where stATOM and CMST are the transit assets.

Lastly, we are exploring using Lp tokens from cSwap pools as collaterals on Commodo to borrow assets. This is a work in progress, the team is figuring out the finer details.

18

I feel like this is surely a good starting point. I saw the announcement of stCMDX yesterday! Congrats on that team! I am Looking forward for seeing more use of stCMDX especially for master pool in Cswap as a next step as well.

2 Likes
19

Thanks for the response!

20

Hey team! Been away for a bit but I see stCMDX is live now! Congrats guys. I would love to see some of these changes come in now

exciting times

3 Likes