AdEx Staking released: you can now stake ADX to earn validator fee rewards

Happy holidays from the AdEx team! It’s time for another AdEx Registry update, and this time it’s the big one — you can finally stake your…

AdEx Staking released: you can now stake ADX to earn validator fee rewards

Happy holidays from the AdEx team! It’s time for another AdEx Registry update, and this time it’s the big one — you can finally stake your ADX to start earning a portion of the network validator fees.

Last year around the same time, we announced the AdEx Registry and ADX staking. Earlier this month we revealed the architecture of the AdEx Registry.

Today marks the launch of the AdEx staking app, which you can find at staking.adex.network. This is the user-facing part of the Registry, where anyone can stake their ADX on one of the staking pools.

The first available staking pool is the “Validator Tom”: as the name suggests, this is the pool of the Tom validator, which is operated by us. We will distribute the fees it earns proportionally to stakers in this pool.

Under the hood, the staking app interacts with the Staking contract, which runs on Ethereum and is deployed here.

Here’s what you need to know:

  1. The only official user interface is https://staking.adex.network (GitHub).
  2. You need Metamask and you stake the ADX token.
  3. There is a 30 day lock-up period.
  4. Reward distribution will start by the end of Q1 2020.
  5. You will receive a proportional part of the collected validator fees.
  6. The smart contract source code and audit results can be found here. It passed a security audit by G0 group.

Here’s how to stake:

  1. Make sure you have Metamask installed and set-up. Make sure you have ADX and some ETH for gas in your Metamask account.
  2. Go to staking.adex.network. Metamask will ask you whether you want to connect to it; approve the request.
  3. Click on “Stake your ADX” and fill the form — currently the only available pool is the “Validator Tom” pool, so select that one. Type in the amount of ADX tokens you want to stake.
  4. Once you’ve filled the form, the “Stake ADX” button will become active. Click it and two Metamask popups will appear one after the other. You need to approve both.
  5. Once those transactions are mined (you can check in the Metamask UI), a bond will appear in the bonds table.

Congratulations, you did it! We will start distributing rewards to stakers in this pool in 2020, so keep coming back to check your rewards!

For more details, please read the full post on our blog: https://www.adex.network/blog/adx-staking-is-here/