An ultimate decentralized exchange that enables financial ideas to turn to reality.
CODI Finance at a Glance
CODI Finance is an entirely open, decentralized ecosystem with three unique offerings, including a Non-fungible Token (NFT) marketplace, a Decentralized Exchange (DEX) platform, and a cross-chain Initial DEX Offering (IDO) launchpad. The protocol is built on the Solana blockchain, ensuring that its Decentralized Finance (DeFi) offerings are secure, highly scalable, and interoperable.
The Solana-based all-in-one DeFi protocol aims to build a progressive ecosystem where users may get DeFi products faster and cheaper within the Solana ecosystem.
The CODI Multipurpose Ecosystem
As stated above, the CODI ecosystem comes with three primary features, offering the protocol an edge over most platforms across the entire DeFi space. Below is a breakdown of the protocol’s unique offerings.
NFT Marketplace For Artists and Collectors
CODI plans to launch an NFT marketplace that will allow collectors and artists to trade NFTs easily and securely. Furthermore, leveraging the Solana blockchain ensures that the protocol worries less about slow transaction times and high gas fees like the Ethereum blockchain. Therefore, users can expect efficient NFT trading, including digital assets on CODI.
CODI’s NFT market launch will improve the growth and development of the NFT ecosystem on Solana and across other networks. In short, the protocol plans to utilize Solana’s network to offer users an efficient and smooth NFT marketplace with extremely low gas fees and fast transaction speed.
CodiSwap is the native DEX of the CODI ecosystem built on the Solana blockchain to provide users with fast transactions and lower costs. CodiSwap, like the NFT marketplace, is on the horizon. It is a fully decentralized exchange platform that will allow users to exchange/swap virtual tokens, trade cryptocurrencies, transfer funds between wallets, stake crypto assets, and ensure market liquidity.
Otherwise called the COPad, CODI’s IDO launchpad is one of the key components of its Solana-based ecosystem. The IDO launchpad gives crypto projects the license to sell tokens ahead of their launch.
Unlike other launchpads that do not offer a guaranteed spot, the CODI launchpad will be for everyone. In essence, CODI’s goal is to build a fully decentralized IDO launchpad where everyone can invest at any given time, as long as the IDO is ongoing. In addition, DeFi projects will use the launchpad to raise funds more effectively from committed investors.
The protocol also plans to implement an automated rewards system to get more DeFi enthusiasts to provide liquidity to projects on the launchpad.
The $CODI Token
The $CODI token is the protocol’s native cryptocurrency that powers its ecosystem, including CodiSwap. The token is an SPL-based asset, and it serves as the protocol’s governance token to build a community-driven ecosystem.
$CODI holders will be able to stake their holdings and earn additional income from trading fees. The protocol designed its staking tiers to offer simplicity to users. As such, users can claim their staking rewards freely.
The different staking tiers with staking amount and Annual Percentage Yield (APY) are:
- Bronze Tier: Staking Amount < 2000 $CODI with 4.8% APY
- Silver Tier: Staking Amount < 30000 $CODI with 6.4% APY
- Gold Tier: Staking Amount < 225000 with 8.5% APY
- Diamond Tier: Staking Amount < 300000 with 9.6% APY
- Challenger Tier: Staking Amount < 500000 with 11.5% APY
In return for CODI, each staker will get xCODI. This will show you how much you’ve staked and may be used to determine both your original staking amount and your yield. Each ticket holder will also have the chance to win more tokens or other prizes. Your odds of winning are determined on the number of tickets you hold.
Moreover, the xCODI may be utilized for governance and other incentives while the CODI is staked. In our ecosystem, smart contracts will be employed to establish general agreement and transparency.
- Token Name: Codi Finance
- Blockchain: Solana
- Contract: TBA
- Ticker: $CODI
- Token Standard: SPL
- Total Supply: 330,000,000
- Team And Advisors: 82,500,000 (25%)
- Product Development: 82,500,000 (25%)
- Technical Research: 49,500,000 (15%)
- Employees And Operations: 66,000,000 (20%)
- Reserve: 49,500,000
Private Sale and IDO
The $CODI private sale is currently ongoing, as announced on its Twitter page, and it will end on November 14th. In addition, the protocol will launch its IDO on November 7th.
“Just a reminder about our current Private Sale! Make sure you learn everything there is to know about $CODI. Visit codi.finance or contact the Sales Team email at [email protected] if you wish to participate,” CODI tweeted on October 27th.
According to the Tweet, users should visit the CODI website or contact the sales team by email at [email protected] to participate in the ongoing private sale.
CODI Finance Integrates With Chainlink
In a bid to secure its cross-chain IDO pools, futures protocol, and staking pools, CODI Finance has integrated Chainlink’s Price Feeds. Chainlink is the industry-leading decentralized oracle network in DeFi, and the partnership will help ensure fair-market exchange rates on CODI’s IDO pools. CODI confirmed the integration via Medium and Twitter on October 27th.
“This is the moment you’ve all been waiting! We strengthened our connection with @Chainlink during the last month. Oracle solutions are being integrated into our Dex Launchpad protocol,” tweeted CODI
CODI Finance’s goal is to become the leading cross-chain, decentralized IDO launchpad for upcoming DeFi projects. The integration of Chainlink’s Price Feeds is a massive step towards achieving this goal.
“To help secure our IDO launchpad pools, we need access to new asset prices supplied on-chain directly in a highly reliable manner. Furthermore, fair market asset prices should reflect a volume-weighed average from all trading environments. Thus, we needed to use an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application,” CODI explained the importance of its integration with Chainlink on October 27th through Medium.
Refer to their blog to read the full details about the integration.
Why CODI Finance?
CODI has created a progressive ecosystem where new projects can thrive, connect to their target market and get liquidity. The DEX–CodiSwap is also an Automated Market Maker (AMM) that allows users to easily trade and exchange their cryptocurrencies by utilizing a liquidity pool. Building on Solana also accounts for speed and low transaction costs. Thus, users can access decentralized financial products at high speed and low cost.
Follow these media links below to learn more about CODI Finance: