Pool-X Review — The Next Generation PoS Mining Pool That Solves The Liquidity Dilemma Of Staked Assets?
With the advancement and expansion of the crypto-verse, as more coins join the race, Proof of Stake (PoS) is gaining ground, leaving the Proof of Work (PoW) consensus behind. Proof of Stake turned into a hotly debated issue of discussion in 2019. Suppositions from promoters as well as opposers have saturated the news from that point forward. Yet despite its initial popularity, the competition seems to be a tough one for the much accustomed and widely used blockchain consensus algorithm.
Likely, very few users pay appropriate attention to the increasing ecosystem of staking projects in the crypto-asset industry. Shortcomings like the staking market being larger as opposed to the market’s free circulation, complexity in the whole operational process and taking too much time before anyone can get their staked tokens. Up to now, the demand for liquidity is rarely considered and addressed. As users decide to liquidate their staked assets, the market lacks the appropriate mechanism to provide the liquidation function. Unfortunately, this particular demand is not yet covered by the inadequate infrastructure currently available on the market.
In the past, the staking economy is based on returns, hence the next strong demand would staking services. Several projects in the huge ocean of PoS are slowly working on the liquidity services challenges. Due to the increase of the PoS ecosystem (along with the forthcoming ETH 2.0) and the massive demand for liquidity in the PoS industry, Pool-X was introduced as the next generation POS mining platform supporting lockup crypto transactions backed by KuCoin. It seeks to create a free market to address the staked assets liquidity problem, stimulate the future development of the PoS ecosystem, and facilitate the development of the staking market as a whole.
Pool-X Review Table of Contents
•What is Pool-X?
•What is POL?
•How to obtain POL?
•How POL’s intrinsic value will grow?
•How to stake coins in Pool-X?
•Why Pool-X is better than the other staking services?
•What are the Pros and Cons of Pool-X?
•Conclusion
What is Pool-X?
Officially launched in August 2019, Pool-X is an exchange that delivers liquidity-focused services that allow users to withdraw staked tokens at any time. Pool-X is the world’s first platform that proposed the concept of Proof of Liquidity and issued POL (a decentralized token issued by the Pool-X exchange) without any reservation.
Since its establishment, Pool-X has provided staking services to its growing 300,000 users with several developments. Recently this April 10, Pool-X platform 1.1 was released supporting the staking services of 8 crypto assets including EOS, ATOM, TOMO and more. At the same time, in order to adapt to the fast-growing liquidity market trading needs, POL was listed on KuCoin exchange, which is available at POL/USDT trading pair.
The Pool-X ecosystem was developed as a means to help the staking market as a whole grow, and I think it goes beyond just a trading site for staked assets. Services like the node marketplace, where users can locate and enter nodes, or the multi-currency wallet that allows users to store their tokens, make the network even more user-friendly and convenient.
What is POL?
POL (Proof Of Liquidity) is a decentralized token issued by the Pool-X exchange based on TRON’s TRC20 protocol. It was created to cope with the inadequate liquidity of staked crypto assets. Apart from that, it has also guaranteed that there will not be any private sale or pre-mining activities. It won’t be held by any group or person, not even by the Pool-X team. There are no reservations about who can get the POL tokens as the platform introduced organic methods on how to acquire POL.
How to obtain POL?
1. Participate in the LockDrop event
2. Staking tokens on Pool-X
3. Trade on Pool-X Exchange
4. Trade POL at KuCoin spot trading market
5. Participate in mining in POL nodes
How POL’s intrinsic value will grow?
Given that POL is one of the most crucial components in the Pool-X’s ecosystem, from POL’s buyback and burn mechanism and with the continuous expansion of the Pool-X features, the business around POL will gradually become ecological, and the intrinsic value of POL will be higher and higher. With the help of KuCoin Exchange after the recent listing of POL, I believe the number of POL holders will grow dramatically, and these users will also become potential users of Pool-X, which will greatly contribute to the prosperity of the liquidity market.
Sample on how POL may seem outstanding even at uncertain market conditions:
For example, when the ATOM’s price increases, POL will also be increased. But when ATOM’s price falls, POL will still increase. How does that even work? Well, as long as there is liquidity demand in the market and to cope with the changing market conditions, POL will remain significant.
How to stake coins in Pool-X?
Any users can select the fixed or flexible products that are in-progress to stake on the “staking” page of the Pool-X website. Perhaps, the most fascinating thing about staking on Pool-X, is that you can obtain double rewards. From your staking rewards, you’ll also get the mining rewards (which is denominated in POL).
Step by step guide on how to stake:
Step1: Click “staking” on the Pool-X website. You can select any of the products available which are in the proceeding, then click “stake now”.
Step2: Enter the “amount of staking” and “trading password”. To ensure all things are clear, you might wanna read the information on each product carefully and cautiously before you click “stake now”.
Step3: You can check your lockup history directly by clicking “lockup history” once you stake successfully, or clicking the “assets” on the upper right corner of the Pool-X webpage, then click the “lockup history” and select coin type you staked.
Why Pool-X is better than the other staking services?
Compared with other PoS mining pools, users on Pool-X are free to unstake their tokens at any time, providing an opportunity to adapt to the changing market conditions, similar to KuCoin’s own Soft Staking program. Pool-X not only addresses nearly all of the problems caused by insufficient liquidity of PoS projects during the staking process but also builds a centralized platform with massive group traffic to meet the transaction needs of users at various levels.
Along with the release of Polkadot, Ethereum 2.0 and the appearance of more high-quality staking projects, I believe that the staking projects will gradually occupy more and more of the market share. Pool-X solving the complications of low liquidity facing traditional staking projects, as well as to stimulate the development of high-quality projects, will help serve the whole PoS market and even the whole industry to become the most influential platform within the blockchain area.
What are the Pros and Cons of Pool-X?
Pros:
From a variety of services for nodes, solutions for low liquidity problems, double rewards, flexible deposits or withdrawals, support of multiple coins and tokens, Pool-X makes a clear case for being the best staking pool platform available.
Cons:
Although the Pool-X team has declared at the very beginning in its blueprint that it was initially a centralized platform, as its early free-market phase shall be achieved in a centralized manner, as the platform emerges to a more mature business structure it will migrate into a decentralized platform.
Conclusion
Solving the pain points of staking, KuCoin has been trying to provide solutions such as Soft Staking, a service that enables users to obtain incentives by holding staked tokens. However, to maintain a smooth withdrawal process, the exchange platform can not stake the assets of all users. This leads to a great decrease in the rewards acquired by each user who holds tokens. Pool-X was introduced to solve these difficulties, ensuring that users acquire maximum staking rewards while experiencing a convenient and smooth staking process.
Pool-X is the next generation PoS mining pool since it works on the core value of empowering digital asset staking. No doubt, it will help speed up the growth of the staking ecosystem as a whole. Pool-X puts out a compelling case for being the best staking pool platform available, as it has a lot to give for users interested in the staking ecosystem. Whether they are looking to run a node, or just to stake and earn rewards, this new platform from KuCoin can facilitate this more conveniently than anywhere else.
