Unprecedented economic model — why ADAMoracle opened the oracle 3.0 era?
With the large-scale application of blockchain technology in recent years, DeFi, NFT and other fields have shown an excellent development, and the market’s demand for underlying services are also constantly improving. In order to meet the growing demand of the market, in July 2020, the ADAMoracle laboratory was officially established in the Emirate of Dubai, led by Ahmed Ebrahim, the founder and CEO of ADAMoracle, and the team led by CMO Christopher Quet and Olga Petrovska set out to create the Oracle 3.0 product. -ADAMoracle.
ADAMoracle is the first multi-chain decentralized oracle that supports wide-area node quotation. It is a blockchain service for building web3.0, which can provide smart contract developers with comprehensive tools and data, as well as more security and convenience solution of the oracle. ADAMoracle will lead a new era of Oracle 3.0 and promote the development of rich business model such as lending, asset synthesis, and forecasting.
ADAMoracle adopts a wide-area node price mechanism, which can realize unbounded interstellar network calculation. After a large number of node price information is aggregated, it will calculate the most accurate result, which guarantees the decentralized characteristics and usable performance of the oracle network, and enhance the security of the oracle network.
In order to build a wide-area node system, the ADAMoracle will recruit many nodes. According to the function of the nodes, they can be divided into three categories: data aggregators, node computing providers, and storage service providers.
ADAMoracle data aggregator:
Data aggregators obtain key data from multiple open and transparent exchanges (such as OKEx, Coinbase, Huobi, Binance, etc.), and transmit the most reliable data to the on-chain ecosystem, thereby providing a safe and reliable price date for DeFi protocol.
ADAMoracle Node Computing providers:
The node computing provider (the global node) runs on ADAMoracle’s safe and reliable blockchain to implements truly decentralized data on the chain. In the future, you can create your own mining pool, establish a distributed quotation mechanism, and store relevant data sources, obtain corresponding ADAM tokens paid by data demander (customer).
ADAMoracle storage service provider:
Storage service providers (storage nodes) will be responsible for the verification and storage of data, provide more secure and reliable data, and build a truly safe and reliable decentralized distributed storage oracle network.
High security: ADAMoracle avoids a single point of failure by connecting multiple nodes and verifying; calculation method and price verification mechanism adopt ADAMoracle to avoid attacks and cause corresponding losses to customers;
Decentralization (high participation): ADAMoracle can connect multiple types of servers through the global node to become bidders and verifiers, and participate in the oracle price generation. Many members can participate in the future development route of ADAMoracle;
High scalability: ADAMoracle supports cross-chain DeFi DApps applications based on Polkadot, OKExChain, and BSC, compatible with many blockchain technology development frameworks;
High accuracy: with an oracle performance evaluation system, the deviation between the quotation per minute and the market price is accurate to 0.0012;
Low threshold: ADAMoracle can be connected to multiple types of servers, which greatly reduces maintenance and operation costs and achieves as a quotation system that everyone can participate in.
The operation mechanism of ADAMoracle is as shown in the figure above. Customer release request — ADAMOracle Saas System releases the request contract — System picking nodes to participate — Wide area node quoting — Aggregating data from all node data provider- Calculate an accurate Result — Feedback to customers.
ADAMoracle will surely attract more outstanding developers to create new DeFi DApps applications. These Web3.0 business paradigms will also become a new form of economic society and organization in the future.
ADAM is ADAMoracle’s reward token to participants. It is the value core of the ecosystem. Its value comes from the contribution of ecological members. The total amount of ADAM is 100 million.
[Node mining] 60% of mining output, 60 million ADAMs are used for node mining rewards.
[Liquidity mining] 9%, 9 million. Used for liquidity mining and pledge mining.
[Early Financing] 16%, 16 million. There are three rounds: seed round, private sale round, and public sale round.
[Reward for community contributors] 5%, 5 million.
[Reserved by the team] 5%, 5 million.
[Community/Market Operation] 5%, 5 million.
Become an ADAMoracle node will be able to participate in the sharing of 60 million ADAM rewards in the mining pool.
The mining output of 60 million ADAM will be carried out in phases. The total rewards for the first phase will be 12 million ADAM. The total mining rewards for each subsequent phase will decrease by 20%. When 12 million ADAM are used up, it will enter the second phase. The total amount of rewards in the second phase is reduced by 20% compared with the first phase, which is 9.6 million; the rule will be continued in the later period until all 60 million ADAM are dug out.
The proportion of ADAM mining pool rewards is based on the node’s computing power contribution
In general, the ADAMoracle creates a continuous positive incentive. The more users there are, the more gas fee will be generated; the more ecological participants, the higher the value of ADAM itself. At the same time, the increase in the value of ADAM is more conducive to the adoption of ADAMoracle. Like Bitcoin, miners will compete to mining for Token rewards to form a virtuous circle.