AdEx Staking Update: Migrating the Validator Tom Contract

This article was first published on The AdEx Blog - Medium

We are upgrading the Tom staking pool to a new contract and this will bring some great enhancements to AdEx staking

As we previously announced in our 2021 roadmap, we are upgrading the Tom staking pool to a new contract.

Today we’re excited to tell you what this upgrade entails, as well as how and when it will happen!

This upgrade only affects the Tom staking pool, not the loyalty pool.

What’s new?

  • Lower fees and auto restaking: with the new staking pool, the initial stake gas fee will be up to 3 times lower! But best of all, restaking will be free because it will be automatic, therefore ensuring your profits are compounded.
  • ADX Buybacks: the fees collected by validators will be used to buy ADX and distribute it as rewards, ensuring a positive feedback loop for the ecosystem.
  • Partial unbonding: rather than unbonding all of your ADX at once, you will be able to only request a certain portion to be unbonded.
  • Rage quit: you will be able to unstake immediately without waiting for the unbonding period, by paying a penalty (certain percentage of your ADX), which will get distributed to other stakers.

For more details, check out the full roadmap.

Upgrade timeline

Here are the important migration dates:

  • 23 March: unbonding on the old pool disabled
  • 31 March: Migration is live: migration contract and new staking pool are launched, old staking pool becomes inactive

After 31st of March, you will be able to finish the migration by going on and clicking “Migrate” on your bond.

What will I have to do?

You will only have to send one transaction to finish the migration process. When you visit the staking portal after the 31st of March, you will be prompted to migrate, and you’ll just need to follow the instructions.

You will have ...

To keep reading, please go to the original article at:
The AdEx Blog - Medium

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