Chainlink oracles are now live on AdEx Network price feeds

AdEx Network is going live on mainnet with a Chainlink oracle integration and the launch of a novel DeFi concept called "Elastic token issuance," it said in a release shared with CryptoSlate.

For the uninitiated, AdEx Network is a new-generation solution aiming to address and correct some of the most prominent inefficiencies of the online advertising industry.

In August 2020, AdEx Network announced plans for integrating Chainlink data oracles in the AdEx staking ecosystem.

The advertising platform is now going live with the first integration - using the ADX-USD price feed provided by the Chainlink oracle network for the AdEx Network loyalty pool and governance system.

AdEx Network works through micropayments on Ethereum by utilizing the OUTPACE layer 2 payment channels and offers DeFi staking of its native ADX token.

Currently, holders of AdEx Network's native token ADX can stake it towards the Validator Tom staking pool and earn annual variable rewards upwards of 50%.How it works.

The newly launched loyalty pool will offer a predictable annual percentage yield of 10% - 50%. This is achieved through elastic issuance, a DeFi concept AdEx is pioneering to ensure that pool participants are incentivized to stay in while the price is high, but also to decrease issuance if the price is low.

To get the price data, AdEx will be using the Chainlink ADX-USD Price Feed.

"We selected Chainlink because its price feeds are aggregated from numerous, high-quality data sources, secured by a decentralized network of highly reliable, Sybil-resistant nodes, and operated in a transparent manner that all of our users can independently verify as fair and accurate."

The new loyalty staking pool will require no lockup period to give stakers extra flexibility, and will also allow them to participate in governance processes related to the AdEx Network ecosystem.