AdEx, the blockchain-backed online advertising network, announced its new staking loyalty and governance system to bring more transparency in the online advertising world. AdEx is associated with Chainlink to use its oracles in the staking for prudently operating its ADX powered elastic reward system.
AdEx intends to create a more reliable and fraud-resistant online advertising ecosystem in which the blockchain technology is used to ensure the allegiance and integrity of the traffic.
How does the Program work?
The elastic reward system uses ADX tokens for the transactions as a quorum of validators, verifies the traffic attracted through advertising. The system helps the various stakeholders in online advertising for efficient payments by creating a reliable channel that cuts out third-party intermediaries.
Staking Tokens: A New Trend
Staking cryptocurrency refers to holding the tokens to verify the various transactions, strengthen the network, and get rewarded in return. The crypto staking is an excellent way of earning some passive income through your digital assets wherein you can get some additional coins as the valuation of the coin rises.
AdEx leveraged the same concepts to encourage advertisers and publishers to hold the ADX tokens for validating advertising traffic over the network. Last year, there was a lot of inclination towards proof-of-stake crypto staking. It was extremely enticing as stakers could expect a high yield of up to 10%/year. However, not many managed to efficiently execute the staking rewards programs adversely affecting the token price.
However, the AdEx stacking rewards program is well thought of to ensure that the holders can reap the most benefits. By bringing in Chainlink technology into stacking, AdEX wants to revolutionize the advertising platform. The firm believes that the elastic staking system would boost the efficiency of the AdEx platform, thereby giving various holders a chance to contribute to its advertising governance using their vote.
Chainlink Oracles to Operate Reward System
Ivo Georgie, the CEO of AdEx Network, talked about the relevancy of Chainlink Oracles in the Addax’s governance system
“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.”
With its staking loyalty pool and reward system powered by Chainlink oracles, AdEx would encourage more online advertisers and publishers to contribute to the growth of the AdEx community.