Proposal: Accepting CMST as a Fee Token for Transactions on Comdex Chain

Comdex Discussion
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Introduction:

We would like to propose an addition to our current transaction fee structure on the Comdex Chain. We believe it’s time we consider accepting CMST as a fee token for transactions on our platform.This proposal outlines the benefits of implementing this change and aims to gather your valuable feedback and suggestions.

Benefits of Accepting CMST as a Fee Token:

  1. User-friendly experience: Accepting CMST for transaction fees simplifies the user experience, as participants won’t have to worry about acquiring and managing multiple tokens to interact with the Comdex Chain. This could potentially attract more users to our platform and improve overall adoption.

  2. Increased utility for CMST: Incorporating CMST as a fee token will increase the demand and utility of the stablecoin. This, in turn, will help to further establish its value proposition within the ecosystem and promote its use in various applications.

  3. Enhanced liquidity: As the demand for CMST increases due to its use as a fee token, we can expect improved liquidity for the stablecoin, making it more accessible to a broader range of users.

  4. Improved efficiency: By allowing users to pay fees in CMST, we can reduce the dependency on the native token, which may help to improve overall transaction efficiency.

  5. User onboarding: Allowing users to pay fees in CMST, we can streamline their onboarding process and encourage more users to interact with the Comdex ecosystem.

Testing and Implementation:

  1. Testing on Testnet: Before implementing this change on the mainnet, it is crucial to test it on the testnet environment to ensure its viability and security.

  2. Implementation: Once the tests are successful, and the proposal is approved, the necessary updates will be made to the chain to support CMST as a valid fee token.

Conclusion:

Implementing CMSt as a fee token for transactions on the Comdex Chain can provide users with a more convenient experience, increase the utility and adoption of our stablecoin, and offer numerous benefits to the Comdex ecosystem. However, we must carefully consider the potential implications and challenges associated with this change. Your feedback and suggestions are highly appreciated, and we look forward to an engaging and fruitful discussion on this topic.

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Hmmmmz, I can see the benefits for CMST, but what does this mean for CMDX?

Doesn’t this mean that a large part of the current unique use-case of the coin disappears? Since we can also use the protocols with other assets as CMDX, it is currently unique in terms of gas fee and governance coin. So removing the gas-fee utility is also kinda scary if you ask me.

For me it comes down to the basic question; which coin do we want to make successful ultimately?
Because right now we are juggling with CMDX, CMST and HARBOR, but splitting focus on 3 fields for a (small) team is killing in terms of progress.

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I guess the proposal is to give people the option to pay gas in both tokens rather than removing CMDX from there. People will still need to hold and stake CMDX to access their share of network fees and CMDX inflation. Using CMST for gas fees means people who stake CMDX earn part of their staking rewards in $ stablecoins so who wouldnt want that? I think we have seen similar discussions in context of using IST to pay for Agoric gas fees and paying NOTE on CANTO. This is along the same lines.

I am in support of this

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In support of this proposal to make it possible to pay fees in CMDX or CMST. Earning a % of the yield in a stablecoin is definitely a benefit for CMDX stakers and does improve in tokonomics in my opinion

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I fully back the idea of integrating CMST alongside CMDX for transaction fees. This dual-token approach can enhance user convenience and boost CMST adoption, while preserving the benefits of CMDX. Let’s embrace this change for a more versatile ecosystem.