Paving the way for ADX to integrate with the DeFi ecosystem, AdEx Network upgraded its native token with new features, reduced gas costs and technical fixes.
Sofia, Bulgaria — August 11, 2020 – Adtech startup AdEx Network announced a successful deployment of its updated ADX token contract on the Ethereum network. The update won’t directly affect the AdEx advertising platform but will pave the way towards a more secure backbone network.
AdEx was the first startup to release an open-source protocol for decentralized advertising. The protocol has grown to a full-featured platform for display advertising, connecting publishers and advertisers and processing more than 45 million monthly transactions, all settled on the Ethereum blockchain.
The native token ADX is used to stake on the AdEx platform against the reputation and uptime of validators, which process micropayments from advertisers to publishers. In 2020, AdEx rolled out a staking portal where everyone can stake ADX tokens and earn money by receiving a proportional share of the total transaction fees in DAI on the network.
Now the AdEx team is introducing new token economics for ADX to encourage staking by “security mining” – getting additional ADX yield while staking their tokens. 7M new ADX will be minted and distributed to active (bonded) stakers by the end of 2020 – 1M will be distributed between early birds who have staked before August 10th and the rest 6M will be distributed between all stakers until the end of the year.
With the announced upgrade, the ADX token becomes the first ERC20 token with built-in flash loans. This means that the ADX token smart contract will allow anyone to borrow ADX as long as they return them by the end of the Ethereum transaction. The feature opens various use cases of ADX in DeFi, such as arbitrage.
For more information contact:
Ivan Manchev, Communications Specialist
About AdEx Network
AdEx Network is a new-generation solution aiming to address and correct some of the most prominent inefficiencies of the online advertising industry: ad fraud, lack of transparency in reporting, end-user privacy misuse, etc.
AdEx originated in 2017 as a decentralized ad exchange and subsequently evolved into a full protocol for decentralized digital advertising. The protocol facilitates the trading of advertising space/time, as well as the subsequent verification and proof of ad delivery. It covers all interactions between publishers, advertisers and end-users. The protocol combines traditional peer-to-peer technology, cryptography and blockchain.
The AdEx team also develops an open-source platform built on top of the Ethereum implementation of the protocol, available at https://platform.adex.network/.
Learn more at https://www.adex.network/.