This article was first published on The AdEx Blog - Medium
An overview of what you can expect from our staking system
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In late 2018, we announced the AdEx Registry — a system where validators can stake ADX against their performance and reliability to secure the AdEx Network.
At the end of 2019, we launched the AdEx staking portal, where anyone can stake ADX towards validator pools to earn from the fees they collect — therefore making the AdEx registry simple and accessible to all token holders.
Earlier this month, we delivered a huge batch of upgrades including incentivized staking and rewards in ADX, resulting in a combined annual yield of over 100% on the staked amount!
Today, we are excited to share the full roadmap of the AdEx staking portal.
✅ Incentivized staking (security mining) — COMPLETED
To encourage the use of ADX for staking, we upgraded the token smart contract in order to enable minting new ADX to reward stakers. This mechanism greatly benefits stakers, and slightly dilutes non-stakers, therefore making it highly preferable for holders to stake.
This incentive model is somewhat similar to Compound’s liquidity mining, where new COMP is distributed to liquidity providers. In our case, stakers provide the network security, which is why we call it “security mining”.
On the 21st of August, this milestone was reached, all staked ADX were automatically migrated to the new contract, and withdrawing ADX rewards was enabled. The new ADX is already traded on all big exchanges.
User interface and design improvements — Q3 2020
We are planning a user interface redesign of the staking portal, which also includes some new features such as a staking calculator, gasless staking and others.
If there’s user demand, we will also integrate an ability to use the staking portal directly with WalletConnect, Trezor, Ledger and others (keep in mind, you can use Trezor/Ledger today through Metamask).
Stay tuned for a full ...
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The AdEx Blog - Medium