Token Upgrade Progress: Contracts and Staking
Posted by AdEx Network on August 10th, 2020NewsADXStaking
As we continue working on the ADX token upgrade, we are here to share our progress with you.
Token contracts and audits
The new token contracts were audited and deployed earlier than planned - on August 3, 2020.
The new mainnet address is this one.
If you want check our the audit by Forkway, you can do it here: ADX Token Contract Audit.
During the audit, no severe issues were discovered, and all issues of mild/informational severity were fixed before deploying to mainnet.
We’re working with all the major exchanges on upgrade announcements in the forthcoming days. Withdrawing rewards will be available as soon as exchange support is implemented.
This involves the coordinating of multiple “moving parts” and expectedly takes a little longer - we appreciate your patience. Stay tuned for news regarding the exchanges upgrades.
Do I need to do anything?
Regardless of whether your tokens are staked, in a software wallet, hardware wallet or on an exchange, they’re safe and you don’t need to do anything for now.
Expect announcements soon regarding swapping to the new ADX.
Staking portal: new rewards calculation algorithm
We’ve made significant improvements to the algorithm that calculates staking rewards. Up until now, at any moment your reward would equal:
currentStake / totalStaked * ADXDistributed.
With the improvements, you get:
currentStake / totalStaked * ADXPerSecond
added to your balance every second, which means it’s no longer possible for your balance to go down and be diluted by new stakes. This also favours early stakers.
Keep in mind that, as a result, the accumulated reward might temporarily go down for some users when this algorithm is deployed, but long term it will be more beneficial for all current stakers.
If you are technical and want to review the algorithm yourself, please feel free to check out the pull request.
Early bird staking bonus - extended deadline
We have decided to extend the deadline for the early bird staking bonus. You now have until 23:59 UTC on August 12th, 2020 to stake in order to qualify for your share of the 1 million ADX tokens we are distributing among early stakers.
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