Kucoin just launched Pool-X : staking rewards

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.

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:

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

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.