New ADX Price Ladder For The Loyalty Pool Voted By The Community
Posted by AdEx Network on July 28th, 2021adxstakingnewsdefi
In AdEx Network we value our community and have always listened to it. That’s why in November 2020 we launched our decentralized governance system in which ADX stakers can vote on important questions about the future of the AdEx Network ecosystem.
Three governance votes have been conducted so far and the latest one ended yesterday. A week ago we raised an important governance proposal about the future of ADX Loyalty pool’s price ladder and called all $ADX stakers to vote.
About the Proposal
Basically when $ADX price goes higher, Loyalty pool issues more rewards and APY rises. This creates a positive feedback loop that rewards loyal holders. In a bull market it helps our marketing and keeps our APYs competitive, while in bear market it saves ADX from depreciation. The ADX-LOYALTY pool price ladder is a mechanism that adjusts the APY according to the ADX price.
See this article on how it works.
Currently, ADX is not perceived to be in an uptrend, but according to the old price ladder, the current price is still on one of the highest steps at 35% APY.
We proposed that this new price ladder becomes active on the 27th of July:
- Up to $0.05: 5% APY
- Up to $0.10: 10% APY
- Up to $0.20: 20% APY
- Up to $0.35: 25% APY
- Up to $0.50: 30% APY
- Up to $1.00: 35% APY
- Up to $2.00: 38% APY
- Up to $2.50: 40% APY
- More: 40% APY
This price ladder introduces a more careful issuance of $ADX rewards. This also ensures that the loyalty pool does not compete with the Tom pool
1.15 Million $ADX voting power decided the outcome of the vote
The proposal was successfully accepted with 1.14 Million $ADX voting “For” it and 105,920 $ADX voting “Against”. As proposed, the new price ladder will be implemented immediately.