Codi Finance, a DEX protocol launched in September 2021 and built on Solana, has begun planning for their IDO Launchpad and NFT marketplace.
CODI Finance, a new DEX protocol, is a fully decentralized exchange powered by Solana Blockchain. CODI aspires to be the “ultimate decentralized exchange” by leveraging Solana's high-speed, low-latency, and low transaction costs. In addition, CODI would like to improve the DeFi industry's DEX sector by developing a platform with an appealing and easy-to-use interface, as well as a diverse set of features. Using the CODI DEX platform would allow users to easily and quickly transfer funds between wallets and gain access to premium services such as Staking, providing liquidity, and trading cryptocurrencies, as well as an NFT marketplace.
CODI Finance is a breath of fresh air in the DEX sector, with its main feature being the IDO launchpad that it plans to launch soon. The CODI’s IDO launchpad necessitates a delicate balance of interoperability, scalability, speed, efficiency, and governance, which only Solana can provide. Novel projects in the DeFi sector would secure financing through the CODI's IDO launchpad in a decentralized and interoperable environment powered by Solana. In addition, the CODI ecosystem would ensure token distribution, automate token claims, and offer a decentralized KYC model to participants.
CODI Finance would implement an active user governance model for the IDO launchpad, leaving decision making and future operations in the hands of the CODI DAO community. Members of the CODI community would vote on future projects they want to see listed on CODI DEX. The CODI launchpad protocol would also include cross-chain token pools, allowing users to seamlessly exchange tokens across multiple blockchains such as Ethereum and Solana.
The DeFi sector is a fierce and competitive industry, and finding funding for new DEX projects in the DeFi space can be a considerable challenge. CODI Finance recognized this issue, and the upcoming release of their IDO launchpad is intended to provide these projects with a safer and faster way to raise funds, thereby contributing to the collective growth and mass adoption of DeFi.
CODI’S NFT MARKETPLACE
CODI also intends to launch a peer-to-peer NFT marketplace where users and digital artists can trade NFTs smoothly and efficiently. The NFT industry is experiencing a boom, with a 2,100% increase in transaction volume recorded in the first three months of 2021 compared to the fourth quarter of 2020. OpenSea, the largest NFT marketplace, runs on the Ethereum blockchain and has seen massive growth, particularly this year, with daily trading volume surpassing $49 million on August 1, 2021. However, as the platform runs on the Ethereum blockchain, known for high transaction fees and slow processing time, there have been underlying concerns about gas fees. This has had an impact on the growth of the NFT industry. CODI plans to improve the overall experience of buying and selling NFTs by launching an efficient and smooth NFT marketplace with low gas fees and fast transaction speed. By utilizing Solana blockchain, where transaction fees are as low as a fraction of a penny and known for its high transaction processing speed.
The upcoming launch of CODI’s IDO launchpad and NFT marketplace are two significant events. Hopefully, this would accelerate the DeFi industry's trajectory and be a substantial step toward achieving CODI's goal of a DeFi framework for a financial ecosystem that operates entirely digitally and on solid infrastructure.
CODI’S PRIVATE SALE
Furthermore, CODI Finance is currently holding a Private Sale, which will run from September 28 to November 14th, 2021, to give the general public the opportunity to be early investors in this project, which is poised to be a gamechanger in DeFi. More information about the private sale can be found at https://codifinance.gitbook.io/codifinance/