Everything you need to know about Pool-X.
This edition of the Staking Spotlight is a collaboration between KuCoin and the Staking Rewards Team.
Here we are presenting emerging projects, products and services of the staking sector.
This week’s selected project is the Pool-X platform, which positions itself as an exchange with integrated staking features that provide liquidity for staked crypto tokens.
So let’s dig into it and figure out everything around Pool-X.
KuCoin & Pool-X Basics
What is KuCoin?
KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017 and often known as the People’s Exchange, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions.
KuCoin has 6 offices around the globe, and employees from over 12 countries.
The founders of KuCoin include Michael Gan (currently the Chairman of KuGroup) and Johnny Lyu (currently the CEO at KuCoin Global), who have deep technical expertise building traditional financial solutions prior to KuCoin.
Early institutional investors of KuCoin are IDG Capital and Matrix Partners who have invested into other successful firms such as Coinbase, Ripple, Tencent and Alibaba.
What is the Pool-X?
In the current crypto market, most projects have adopted a Proof of Stake (PoS), hybrid PoS mechanism or they are moving towards it. To maintain a stable and healthy network, PoS projects usually require a staking ratio of a certain percentage. For example, the recent staking ratio for EOS is 44%, Tezos at 77%, and ATOM at 72%. Generally, a relatively ideal staking ratio would be around 67%, we could further calculate that only about 33% of all crypto assets will be liquid in healthy networks, and the other 67% will be staked. Supported by KuCoin and TRON，Pool-X lowers the barrier of staking, increasing the staking rate and improving the overall security.
The Pool-X is a free market aiming to establish an ecosystem in solving the liquidity dilemma of staked assets. It also integrates multiple staking nodes, real-time rewards denominated in the native token POL and a trading market that allows earning rewards and trading the underlying assets at the same time.
What is POL?
POL, abbreviated from Proof Of Liquidity, is introduced to measure the demand for liquidity for different assets, and to bridge staked assets and those in circulation. POL is a decentralized zero-reservation credit issued by Pool-X based on TRON’s TRC-20 protocol. Playing a substantial role in the Pool-X ecosystem, POL is an incentive for participants who contribute to balance the market volatility and ecological governance, as well as the fuel for extracting Pool-X system resources.
With a total supply of 1 billion, there are currently four main methods to acquire POL: LockDrop, Staking mining, Trading on Pool-X Exchange and Trading POL at KuCoin spot trading market.
Pool-X Key Features
Liquidity Trading Market
Through Pool-X’s Liquidity Trading Market, users will be able to trade their staked assets with their non-staked, tradable counterparts by using POL.
Say you have chosen “TRX-30 Days” on Pool-X and you want to unlock the staked tokens when there are still 20 days left to maturity. What you can do is to sell the staked TRX certificate in the Liquidity Market by using POL and get the same amount of unstaked TRX that is immediately tradable.
Staking participants on the Pool-X can earn rewards directly from staking as well as POL for mining. The demands of POL will be increased if more users make use of such features to meet their liquidity trading needs.
Daily Staking Rewards
Pool-X distributes the earnings and POL from staking into the user wallets on a daily basis.
Support 8+ Tokens
Pool-X has support for the staking service of over 8 tokens including EOS, ATOM, TRX, TOMO.
How to Stake on Pool-X?
Pool-X launched the staking service in January and to stake with Pool-X, you simply need to transfer your token from KuCoin to Pool-X, and click the “Stake Now” button on the Pool-X homepage.
Cosmos (ATOM), EOS (EOS) and Tezos (XTZ) are available on the Pool-X platform which distributes staking rewards plus additional mining rewards denominated in the native token POL.
There is limited availability and a certain lock-up / redemption period.
Check for more details here
From our research KuCoin’s Team has a rich background in the industry and the Pool-X offers a great variety of services that simplify the staking experience for consumers and bring more liquidity to the staking economy.
We believe the captured value by staking with Pool-X is simplicity, liquidity and ease of staking for users who prefer one-stop solutions.
Please consider that parts of this article are written by the operators and owners of this product and service.
To learn more, please feel free to visit the Pool-X Official Website.