Decentralized advertising startup AdEx has invited its community to participate in the governance of the platform. The first major decision that token holders can vote on will be the total number of ADX staking reward tokens to be minted in 2021.
Empowering the Community Through Governance Rights
AdEx is now inviting the community to have its say in important decisions for the future of the company. Any community member can join the AdEx Loyalty Pool by depositing ADX (the native token of the AdEx ecosystem) in exchange for ADX-LOYALTY tokens.
ADX-LOYALTY furnishes holders with the right to vote on proposals. As an additional incentive to join the staking pool, those holding ADX-LOYALTY will also receive passive income in the form of interest. The predictable interest rate will vary from 10 – 50% according to the current ADX price as specified by a Chainlink oracle; a concept called elastic issuance.
Over the coming months, the AdEx team will submit a variety of proposals related to the development of AdEx. ADX-LOYALTY token holders can then vote on these proposals at staking.adex.network.
The result of each vote will be considered by the AdEx team as indicative of the wishes of the community and will inform the actions that the team takes in developing the platform.
AdEx’s first governance vote will determine the number of ADX to be minted in 2021 for staking rewards and incentives. In September, AdEx initiated its incentivized staking program which saw the minting of 7 million new ADX.
These tokens were allocated to be distributed as rewards to bonded stakers up to the close of 2020. To date, nearly 4 million ADX rewards have been distributed and over 25 million ADX have been staked. The current proposal will determine the total number of ADX to be minted as additional staking rewards and incentives to cover the full year of 2021.
Voters can choose between 20 million, 15 million, 10 million, and 5 million. Of course, the more tokens minted, the greater the annual percentage yield.
However, the total ADX supply is limited to a maximum of 150 million. Voters must take this into careful consideration when making their decision. Voting is open now at staking.adex.network and community members have until November 24 to cast their votes.
The Future of Advertising Marketplace
AdEx is an advertising marketplace aimed at solving the many pain points currently in the advertising industry, focusing on privacy, transparent reporting for publishers and advertisers, ethical advertising, and reduced ad fraud.
AdEx combines traditional peer-to-peer technology, cryptography, and blockchain in a protocol that allows users to trade advertising space or time, and that provides verifiable proof that purchased advertisements are correctly placed throughout the entire allotted advertising period.
To facilitate micropayments and overcome potential scalability issues, AdEx utilizes off-chain unidirectional trustless payment channels.
These channels allow for multiple payments between parties without committing each payment to the blockchain. The only on-chain transactions that take place will be advertisers opening their campaigns and publishers withdrawing their earnings.