Development Updatе: AdEx v5 Smart Contracts Launch

Development Updatе: AdEx v5 Smart Contracts Launch

As we gear up for the big launch of the AdEx platform in early 2024, we're excited to provide you with our final development update for this year! In the upcoming version, AdEx protocol v5 introduces significant advancements, particularly in smart contracts and utilizing the innovative OUTPACE technology. This development update sheds light on key aspects of the protocol, emphasizing its secure and efficient design.

Security enhancement - Ambire Wallet integration

The Identity layer of the AdEx platform has been transitioned into Ambire Wallet, offering users, including publishers and advertisers on the AdEx platform, a myriad of benefits:

  • Smart Account Creation: Users can create a smart account using an email address.
  • Multi-Device Identity: Ambire Wallet enables users to use multiple devices (e.g., PC, mobile, hardware wallet) as a single identity without the need to share the same private key (essentially a multisig).
  • Blockchain interaction without native tokens: e.g. users can seamlessly interact with the Ethereum network without possessing ETH; fees can be paid in USDC or another ERC20 token.
  • Quick Accounts: The platform offers "Quick accounts," allowing users to sign up with an email/passphrase. The platform generates and stores a keypair encrypted with the user's passphrase.
  • Account Abstraction: These concepts, sometimes termed "smart wallets," "meta tx," or "account abstraction," contribute to a more user-friendly and versatile identity management system.

Moreover, creating an account on AdEx automatically generates an Ambire Wallet address, fully functional for various transactions and operations like token swaps, staking, connecting to dApps, and more.

Supported tokens for campaign deposits

While the smart account linked to each AdEx profile offers compatibility with various networks and tokens, currently, the platform is configured to function exclusively on the Polygon and Ethereum networks. Deposit options are limited to USDC, USDT, DAI, and ADX, a strategic decision aimed at minimizing volatility and safeguarding against potential risks such as fatal bugs, arbitrary minting, or insufficient liquidity. Notably, initiating a campaign with the ADX token automatically results in a reduced transaction fee, dropping from 7% to 4%, incentivizing users to engage with the native ADX token within the AdEx ecosystem.

OUTPACE technology for payment channels

In the AdEx protocol, campaigns leverage payment channels powered by a technology called OUTPACE (Off-chain unidirectional trust-less payment channels). The OUTPACE channel is defined on-chain with a designated validator set and a specified token address. At any given time, users can deposit any amount of funds into the channel. The off-chain events are observed by validators, with the leading validator proposing new channel states. Subsequent validators then verify and confirm these proposed states, ensuring a robust and efficient payment channel system.

Shared payment channels for gas savings and optimization

A noteworthy enhancement in gas efficiency and optimization is achieved through shared payment channels. Campaigns utilizing the same validators and the same token now share a common payment channel, eliminating the need to open new channels for each campaign. This innovation results in significant gas savings and streamlines the overall transaction process, contributing to a more cost-effective and environmentally friendly protocol.

Improved user experience with no channel expiry

The user experience is substantially elevated with the elimination of channel expiry in AdEx protocol v5. Unlike conventional models, users no longer face deadlines for withdrawing their tokens from payment channels. Removing time constraints enhances user flexibility, providing a more user-friendly and stress-free experience and fostering a sense of control over their assets.

Advanced security mechanisms: modular approach to guardian approval

A modular approach to security is implemented by introducing a new architecture where each payment channel can autonomously approve its own guardian for the challenge mechanism. This decentralized and modular framework empowers individual channels with the autonomy to customize and fortify their security measures, tailoring the approach to the specific needs and dynamics of each channel. This granular control enhances the overall resilience of the AdEx protocol, showcasing a commitment to adaptable and secure design principles.

In conclusion

As we wrap up our final development update for 2023, we're thrilled to showcase the substantial enhancements introduced in AdEx protocol v5. These improvements offer a number of benefits, including heightened security, cost-effectiveness, user-friendly interactions, and increased flexibility. The integration of Ambire Wallet as the foundation for every AdEx account leverages smart contract advancements, resulting in a more secure and flexible platform with integrated gas-saving features. Notably, our OUTPACE technology has undergone significant improvements, further fortifying the network's security and enhancing user-friendliness. These collective advancements underscore our commitment to delivering a superior experience in AdEx protocol v5.

We look forward to the AdEx platform launch in early 2024 and will share additional updates soon. Stay tuned for more information!

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