AdEx Network Goes to Mainnet with Chainlink ADX-ETH Price Feed Integration, Pioneers Elastic Issuance
Sofia, Bulgaria — October 07, 2020 — AdEx Network (https://www.adex.network/) is going live on mainnet with a Chainlink oracle integration and launches a novel DeFi concept: elastic token issuance.
In August 2020, AdEx Network announced plans for integrating Chainlink data oracles in the AdEx staking ecosystem. The advertising platform is now going live with the first integration – using the ADX-ETH price feed provided by Chainlink’s decentralized oracle network for the AdEx Network loyalty pool and governance system.
Currently, holders of AdEx Network’s native token ADX can stake it towards the Validator Tom staking pool and earn annual variable rewards upwards of 50%.
The newly launched loyalty pool will offer a predictable annual percentage yield (APY) of 10% – 50%. This is achieved through elastic issuance, a DeFi concept AdEx is pioneering to ensure that pool participants are incentivized to stay in while the price is high, but also to decrease issuance if the price is low. The APY will depend on the price of the ADX token. To get the price data, AdEx will be using the Chainlink ADX-ETH Price Feed.
“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,” said Ivo Georgiev, CEO of AdEx Network.
The new loyalty staking pool will require no lockup period to give stakers extra flexibility, and will also allow them to participate in governance processes related to the AdEx Network ecosystem.
About AdEx Network
AdEx Network is a new-generation solution aiming to address and correct some of the most prominent inefficiencies of the online advertising industry.
AdEx originated in 2017 as a decentralized ad exchange and subsequently evolved into a full protocol for trading of advertising space/time and the subsequent verification and proof of ad delivery. It covers all interactions between publishers, advertisers and end users.
AdEx Network works through micropayments on Ethereum by utilising the OUTPACE layer 2 payment channels, and offers DeFi staking of its native ADX token.
The AdEx team also develops an open source platform built on top of the Ethereum implementation of the protocol, available at https://platform.adex.network/. Since the public launch of the platform in 2020, it has gained more than 4,000 registered users and has processed 800+ million micropayments on the blockchain.
Learn more at https://www.adex.network/ and follow @AdEx_Network on Twitter.
About Chainlink
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high quality data sources from other blockchains as well as real world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted to deliver definitive truth by hundreds of organizations to provide continuous, reliable data feeds. To learn more, visit chain.link and follow @chainlink on Twitter.
