In a brand new statement, Kucoin exchange just announced the launch of Pool-X – a multi-currency and multi-node trading platform that will provide users with quick access to select high-quality staking pools and nodes. It also promises to establish a competitive system that will offer a high liquidity trading market, node integration and operational solutions.

This is the latest addition to Kucoin Exchange on top of their many layers of exciting crypto incentives (such as games, constests and numerous airdrops). It’s called Pool-X and it promises to bring you mining rewards for staking tokens such as KCS (the Kucoin native token), TRX, XTZ or ATOM.

The official press release by Kucoin states that this will be a way for bagholders to put their holdings into good use while waiting for the bear market to end.

Dear User,
Are your tokens still lying in the wallet due to the bear market?
No worries!
Come to POOL-X, wake up your sleeping tokens and EARN DOUBLE REWARDS!

Let’s see what exactly Pool-X is and how it will work (it’s just been launched so I am using the information available rather than personal experience in this instance.)

In short, users are able to stake any number of tokens they wish for up to 12%(annual) reward (in other words, an interest that will be accumulated and paid out throughout this period).

Currently you have the option to choose between fixed staking where you earn more interest or soft staking where you earn less but there’s no lock-in period.

With the fixed staking you earn rewards in a new token called POL:

pool-x

What is POL?

POL, abbreviated from Proof Of Liquidity, is a decentralized zero-reservation credit issued by Pool-X mining pool based on TRON’s TRC-20 protocol. The token is yet to be launched so currently I don’t have any price data for it but there is a white paper available here.

There’s also a calculator available on their homepage where you can make a quick estimate on the amounts of POL tokens you get for the chosen amount of tokens you will stake. More details you will find on their website.

The list of staking coins is growing fast and currently these are the supported coins:

TRX   |   AION   |   TOMO   |   EOS   |   ATOM   |   XTZ   |   LOOM   |   ALGO   |   WAN   |   ONION   |   NRG   |   PIVX   |   DAI   |   EOSC   |   KSM   |   ELA   |   LOKI

Annotation 2020-01-11 135820.jpg

Here’s what other information is available to us at this point:

“Compared with other staking products, Pool-X is the world’s first pioneer that created Staking Mining. During the staking period, you can obtain double rewards, including the staking rewards and the mining rewards(denominated in POL), which will be distributed to your Pool-X account everyday.

What is the flexible staking product?

 

Flexible Staking means that users can obtain rewards by staking anytime. User can withdrawal anytime but need time to complete. Users can trade anytime while staking. If a user places an order in the Liquidity Trading Market, the staking share will get frozen.
What is the fixed staking product?

 

Fixed Staking means that users can choose to stake for a fixed period. Users can subscribe to the project with a certain amount of shares, and the system will lock the amount accordingly. Users can’t withdraw shares during the staking period but can trade the ownership of shares in the Liquidity Trading Market to obtaining funds.
How can users redeem my flexible/fixed staking product?

 

For the flexible staking product, when you stop staking it, you can submit your redemption request.
For fixed staking product, when the staking period expires, the system will automaticlly do the redemption for you.
What is the fastest way for redeeming my flexible/fixed staking product?

 

Users can chose to redeem partial shares by stopping staking or to trade the ownership of shares in the Liquidity Trading Market. Trading the ownership of shares in the Liquidity Trading Market is the fastest way to obtain funds.
What is the frequency for distributing rewards of the flexible/fixed staking products?
Pool-X will distribute the daily rewards to your Pool-X account, including staking rewards and mining rewards(denominated in POL).”
(all of these details are available on the Pool-X website*)
In addition to the Double Earnings incentive (for early birds), there’s also the Global Debut of POL Credits explained as follows:
“Come and lock up TRC20-USDT to get POL credits. The LockDrop will run for 6 rounds. The earlier you come, the more POL credits you can obtain.”
LockDrop Plan Explained
Total Supply 1,000,000,000 POL
Credit Type TRC20
LockDrop 2% of the total credit amount
Mining 78% of the total credit amount
Budget System 20% of the total credit amount
Total lockup amount 3,000,000 USDT
Acquisition Method Lockup drop
Maximum Lockup Amount Per Person 2,000 USDT
Minimun Lockup Amount Per Person 500 USDT
Accepted Coins for Lockup USDT
Lockup Period 1 week(s), 2 week(s), 3 week(s), 4 week(s)
USDT Vesting Period All the lockup USDT will be returned to the original address once the lockup period expires.
POL Vesting Period 20% will be unlocked when POL is listed on the market. 80% will be unlocked in other services.

Whether you are a bagholder who is looking to put your tokens into a staking plan for some time or you are an investor looking to get an extra interest on your tokens, I feel that this incentive will be beneficial to you since you are not required to buy anything or be tied up in a long-term contract. This is going to be a win-win scenario for holders of the tokens listed above.

I have been a user and proponent of Kucoin Exchange since it launched and you can find my tutorials about the exchange platform in my previous posts.

I hope this information will be of value to you and will help you make an informed decision as to how to make a good use of your token holdings.

For more great crypto content click follow this blog in the right column of this page.


Other posts you may like:

KuCoin Exchange – The Basics

5 Reasons to use Kucoin exchange

3 thoughts on “Kucoin just launched Pool-X : staking rewards

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