ADEX launches staking rewards for its users after partnering with Chainlink, the most popular blockchain oracle provider so let’s find out more in our Chainlink news today.
AdEx is the next-generation blockchain-based digital advertising network which just partnered with Chainlink, in order to integrate the LINK oracle solutions into its staking ecosystem to power the staking loyalty pool and governance system. Designed to make the online advertising transparent and less prone to fraud, AdeX uses a combination of blockchain technology and peer-to-peer technology to track the traffic using a quorum of validators and allowing the advertisers and the publishers to form a secure payment channel between one another by simply eliminating the intermediaries.
Decentralized digital advertising platform @AdEx_Network is using & supporting a new #Chainlink ADX/USD Price Feed live on mainnet to power its elastic issuance staking model. The oracle sets APY rates dynamically in their loyalty pool based on market data.
— Chainlink – Official Channel (@chainlink) October 7, 2020
To help boost the ecosystem and reward the holders of the ADX tokens, AdEX implemented a new staking rewards program which will see the holders benefit from both traditional staking rewards that are distributed by the network, and a share of the validator fees which are earned from the impression payments. By integrating chainlink’s data oracles into the staking system, the AD platform can then pull in accurate ADX-ETH price data to balance the staking rewards with the market demand for the tokens by maximizing the return for the stakers while still maintain a healthy network. This will be achieved via Adex’s new elastic supply mechanism which will ensure staking pool participants and maintenance of their stake while the price is climbing or dropping ADX issuance the price falls by using the oracle data to monitor the price on the market. CEO of Adex network Ivo Georgiev said:
“We selected Chainlink because its price feeds are aggregated from numerous, high-quality data sources, secured by a decentralized network of highly reliable, Sybil-resistant nodes, and operated in a transparent manner that all of our users can independently verify as fair and accurate.”
AdEx believes that the new system will make for a healthier network and will give the users the opportunity to participate in the governance system by casting their votes on important issues. last year, there was a surge in interest for PoS cryptocurrencies because of the potential yield that they offer the stakers with many assets offering up to 10% yield per year while some offer even more. Few crypto assets managed to balance the staking rewards with changes in user demand which can lead to an inflating supply and an adverse effect on the price of the token. Many cryptocurrencies offer an impressive yield in terms of token balance growth but not all of them were able to offer positive yields when measured against the USD.
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