The Transition from $ADM to $ADMx
It has been a long time since we gave an update about the current situation with Adamantium.
Adamantium is going through some big changes, the first being the creation of $ADMx!
We believe that we haven’t completely explained our vision with Adamantium which has led to a disconnect between the community and The Team.
The vision $ADM initially had was never meant to solely be a rebase token, but rather, to be a Hedge Fund through utilizing taxes made from the buys and sells of the token which we would invest into potentially profitable ventures.
We have made the decision to deactivate the script which ensures that $ADM pays out rebases.
By the time you read this message, you will notice that rebases are no longer being distributed into your wallet.
As a part of this process we will be deactivating the dashboard on the DAPP for the new few days ahead of the release of our new staking pool, which will allow you to redeem your $ADM for the upgraded version, $ADMx.
$ADMx will allow you to have a better representations of your Adamantium’s shares in that your token will be illiquid i.e we won’t provide liquidity on any DEX, and instead will be buying/redeeming directly from the Adamantium website at a future time.
Once you redeem your tokens with the contract, it will be automatically converted to $BNB, while simultaneously receiving your share of $ADMx at the conversion rate of : 1000:1.
The BNB will be held in a multisig with 50% control by the Obsidian Council, James and Aussie, which will require at least one vote from either side to pass any transactions.
We are ensuring transparency while making sure the transactions happen safely and smoothly. The liquidity being burned there will always be some $BNB left in the original contract (an amount quite high).
With the funds from the $ADM token, we will be diversifying the investments that back the $ADMx token as well as giving base liquidity in order for your $ADM tokens to be redeemed on the website.
To be clear,We recommend you redeem your ADM for ADMx.
This will increase the treasury for investments. $ADM’s transition to $ADMx is the next massive upgrade in the history of Adamantium! We look forward to continuing to build and provide value to all of you.
$ADM is dead long live $ADMX