In July of 2023, through a governance vote, the AdEx community collectively opted to issue an additional 2 million ADX tokens while also halvе the staking rewards. The goal was to extend the reward distribution duration, ensuring participants a more sustainable and prolonged benefits system. As a result of the decision, 2 million ADX tokens were burnt to counterbalance the impact on token supply dynamics. This measure effectively extended the rewards distribution period and reduced the APY to rates lower than the previous 15%.
Please note that this solution is temporary, lasting until the launch of the AdEx platform and the initiation of profit distribution.
The AdEx platform
The advertising platform is still under development, with an anticipated launch date in Q2 2024. Following the platform's launch, rewards will be generated from earnings derived through various activities, including fees from ad placements, transaction fees, and other revenue streams within the AdEx ecosystem. As the platform establishes itself and engages in these activities, participants can expect to receive staking rewards based on the success and financial performance of the AdEx platform.
The governance proposal
To extend the staking period until the launch and broader adoption of AdEx, we propose implementing an additional halving of staking rewards and extending the staking period by another 12 months. The additional tokens will be derived from the AdEx team's treasury.
Therefore, our community is presented with two options for consideration:
- Halve of the ADX rewards - this will lower the current APY of the ADX staking but will extend the staking period for an additional 12 months.
- Keep the current APY for an additional 5 months, followed by maintaining the staking pool with a 0% APY thereafter.
The voting period for this proposal will commence on January 17th, 2024, and conclude on January 31st, 2024.
Who can vote?
The voting opportunity is restricted to holders of our two governance tokens: ADX-STAKING and ADX-LOYALTY. Please note that individuals who hold ADX tokens without staking them will not have voting rights.
You can participate in the voting process on Snapshot: