Chainlink (LINK)-Powered Price Oracles to Broadcast USD Prices in AdEx Network (ADX) Mainnet

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Wed, 10/07/2020 - 15:00
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Vladislav Sopov
AdEx Network, a decentralized solution tasked with solving advertising industry problems with blockchain-based solutions, goes live on mainnet
Chainlink (LINK)-Powered Price Oracles to Broadcast USD Prices in AdEx Network (ADX) Mainnet
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AdEx Network shared the details of its mainnet launch. It will integrate Chainlink (LINK) oracles and pioneer "elastic issuance," a cutting-edge concept for decentralized financial protocols (DeFis).

AdEx Network (ADX) launches mainnet with Chainlink (LINK) oracles for ADX/USD prices

According to the press release shared with U.Today, the AdEx Network commences the mainnet stage of its operations. The ADX staking ecosystem, loyalty pools and network governance have been reconsidered to ensure the unprecedented accuracy of ADX/USD pricing.

In the mainnet, the Chainlink (LINK) infrastructure of decentralized oracles will be utilized to guarantee up-to-date broadcasting of USD prices for all ADX validators. Ivo Georgiev, CEO of the AdEx Network, highlighted the crucial importance of this step:

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.

Thus, all ADX stakers will enjoy one more lucrative opportunity to earn on their idle tokens. Currently, all validating operations are executed through a single staking environment, the Validator Tom pool. Stakers will earn up to 50 percent in annualized yields.

With the mainnet launch, the new loyalty staking pool will facilitate the ADX validating experience with the state-of-the art concept of "elastic issuance" that implements a predictable APY of 10-50 percent.

Introducing elastic issuance, a brand new experiment for the DeFi segment

The process of elastic issuance is a new step in ADX tokenomics. It ensures that the process of ADX issuance will depend on the actual ADX/USD price. Thus, all ADX holders will be incentivized economically to keep validation up and running.

While the price is high, the issuance will be boosted, and once the ADX price decreases, the issuance process will slow down. Thus, interest in the ADX token will be leveraged by a new-gen approach to the supply and demand of governance tokens.

Launched in 2017, the AdEx Network utilizes Ethereum-based micropayments to advance monetization processes in the advertising industry. Transactions in AdEx are executed through Outpace layer-two payment channels. At press time, it onboarded 4,000 users who authorized more than 800 mln micropayments.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)