Emeris Beta Integrates 2 New Chains: Comdex and Sifchain

As more and more Cosmos chains enable IBC, the Internet of Blockchains is fast becoming a thriving economy, realizing more than 10 million IBC transactions in a 30-day period. The Emeris team is working hard to integrate as many new chains as possible to provide users with more flexibility and choice. To that end, we’re pleased to announce that two more chains have been added, Comdex (CMDX) and Sifchain (ROWAN). Find out more about these promising projects below.

Comdex

Comdex is a decentralized synthetics protocol built on Cosmos SDK. The mission is to build an ecosystem of interoperable solutions to access financial products and services in the commodities space. Launching their own protocol in the Cosmos ecosystem seemed like the natural first step in realizing this goal.

Through synthetics, Comdex provides seamless access to global assets and liquidity. A truly permissionless system like this can facilitate the tokenization of real-world assets with fewer hurdles than those in the traditional derivatives markets.

Comdex provides end-to-end commodities trading solutions such as trade discovery, trade settlement, and trade financing. Comdex is keen on building solutions that will bridge the gap between DeFi and CeFi and democratize finance.

It was designed to create more equal opportunities in the DeFi (decentralized finance) space, allowing for greater access across the board for investors worldwide when it comes to exposure to commodity assets and debt. The protocol is also IBC-enabled, allowing for interoperability across other blockchains within the Cosmos ecosystem. There’s also a cross-chain bridge that will allow users to transfer their assets to Comdex from other blockchains, and vice versa in the future.

CMDX is the protocol’s native token that has a wide range of utilities. Token holders can use it for staking to earn rewards and participate in governance to dictate protocol proposals, while also leveraging it as collateral to mint synthetic assets. CMDX is also used in securing the overall network.

Sifchain

Built with the Cosmos SDK, Sifchain (ROWAN) is a cross-chain DEX that utilizes a pegged token model called Peggy to facilitate cross-chain transactions between multiple blockchains, including various ERC-20 tokens as well as Cosmos assets.

Forming part of Cosmos’ growing DEX ecosystem, Sifchain makes it possible for users to transfer assets between its network and the vast Ethereum ecosystem. These tokens are pegged according to the corresponding network and can be exchanged or deposited into liquidity pools within Sifchain.

As Sifchain utilizes an AMM-style mechanism through Cosmos SDK modules, it has liquidity pools where its native ROWAN token is used as the settlement asset. This means that each pool encourages deposits of both ROWAN and another supported token. These pools are unique in that assets can be deposited in different weights within each pool, offering far greater flexibility, unlike other traditional AMMs.

Be sure to keep checking here for updates and follow us on Emeris socials as well. We’ll be adding more chains to Emeris Beta and providing you with details of more exciting features coming up very soon.