ADAX announces the launch of their SPO to help grow TVL on the DEX
In recent months, we’ve seen several events within crypto space that had an extremely negative effect to the industry and its’ community. This lowered the trust, projects had to backtrack their expansion plans as their reserves went down, less and less positive news have been mentioned and in some cases projects delayed development releases due to the bearish sentiment.
We felt it as well, as many of the discussions with other projects in hopes to get them onboard on our DEX usually ended up with a response “bear market we need to preserve funds”, “not right now, lets wait this winter out” etc.
ADAX being a community driven DEX does not have the VC support that some other projects have, with deep pockets and insane numbers in terms of TVL. Hence, we have decided to create a new SPO specifically designed to grow the DEX in accordance with our community and their vote.
Introducing ADAX DEX Staking Pool
- 50/50 reward split between the project and the delegator
- 50% of newly generated ADA that is awarded to the project, will be compensated to the users in ADAX tokens
- All ADA awarded to the project, will be used to increase the TVL on the DEX
- Community to vote on which pairs should receive the liquidity
We believe that it is a risk free setup, that does not require any of your ADA to be invested and the fact that through the voting system, the community will decide which projects to support.
In the long run, we expect this to be a door opener in conversations with other projects once the situation in the market turns around to the better side.
Once again, thank you for your support and don’t forget to delegate your ADA to “ADAX DEX Staking Pool” !!!