By
Bena Ilyas
April 22nd, 2024
AdEx collaborated with Chainlink primarily thanks to its high-quality decentralized blockchain network that incorporates dependable data.
AdEx Network, a blockchain protocol developed during the 2017 crypto bubble to address issues in the advertising industry, has announced plans to go live on mainnet with Chainlink oracle integration.
According to the press release, the platform is going to use the ADX-USD price feed provided by Chainlink’s decentralized oracle network for the AdEx Network loyalty pool and governance system.
Its Notable Success
AdEx protocol was developed to fill the gaps in the advertising industry, whereby it works directly with the advertisers and the publisher.
By eliminating the middleman in the ad industry, it made the advertisers access to reliable publishers. Hereby allowing the former to save considerably and maximize on reliable website data.
The native token for the AdEx protocol is ADX, whereby its United States dollar’s derivative was trading around $0.1724 at the time of writing. According to metrics provided by CoinGecko, ADX had a market capitalization of around $17,673,244, with its daily trading volume at $1,226,338. Notably, there were 101,843,077 ADX tokens in market circulation out of the total 113,985,553.
The token was ranked position 261 in terms of market capitalization. With the continued market adoption, the token has managed to rise 111% in the past 12 months. In addition, it has jumped 17% in the past 30 days, added approximately 12.7% in the past two weeks. However, the asset was down 9.4% and 7.5% in the past seven days and past 24 hours respectively.
AdEx and Chainlink
Through the press release, the company noted that the ADX token holders can earn annual variable rewards by staking their coins.
“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%,” AdEx indicated.
The company also noted that the reward program will be achieved through elastic issuance.
“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-USD Price Feed,” the company wrote.
AdEx collaborated with Chainlink primarily due to its high-quality decentralized blockchain network that incorporates dependable data.
“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.