Vote for Staking! Help Your Favorite Projects Launch on Pool-X
The staking economy was the most trending topic in the recent blockchain industry with a large number of promising projects utilizing PoS or hybrid PoS mechanisms emerging.
The convenience of being able to set an on-chain “native interest rate” offers the potential to provide consumers with substantial incentives without the intervention of significant physical or technological resources in compromise. Perhaps, the landmark reached so far this year is just the starting stage of the staking economy. With Ethereum starting to completely turn to Proof-of-Stake in the not-too-distant future, the blockchain space may well be pushed to cope fairly soon on staking.
As the infrastructure matures for receiving staking-related rewards and participating in DeFi, blockchain users will have more options at their fingertips to choose the products that best fit their needs. KuCoin has always been paying close attention to the development of these markets. In the exchange’s hope to find hidden gems in DeFi for users, the team rolled out KuCoin Choice Community Vote (DeFi Session). Today, to contribute to the staking ecosystem as well and provide support to more PoS projects, The (KuCoin ___ Community Vote) has been launched to help select real potential crypto assets supporting (or planning on supporting) staking.
How to vote on the staking project you want to see on Pool-X?
For a detailed introduction to the rules of this event, please refer to “Come and Vote for Staking and Soft Staking!”.
Activity Time: 18:15:00 on August 14, 2020 to 23:59:59 August 18, 2020 (UTC+8)
Rules for placing votes:
✅ You need to have an account on KuCoin to know your UID
✅ Answer some questions regarding the products offered by Pool-X
✅ Visit this form to cast your vote and use your power to get your favorite projects listed!
What are the incentives from voting your project?
When the project that you chose to vote for is successfully listed, the project’s staking rewards (except for POL mining) will double for the first 3 days. The rewards will be given out within 14 working days of the listing. There will be three winning projects: one for Flexible Staking, one for Fixed Staking, and one for Soft Staking.
KuCoin has always been a strong supporter of PoS projects and has listed several real potential staking-related assets, such as XTZ, EOS, ORN, ATOM, WAVES, LUNA, DAI, and ONION to name a few. With the emergence and rapid development of projects utilizing PoS or hybrid PoS mechanisms in the future and to further embrace the inevitable, KuCoin thought of offering a great variety of services that will simplify the staking experience for consumers.
About Soft Staking
One of the defining aspects of traditional staking is the idea of investments getting locked. KuCoin’s Soft Staking allows users access to their coins at any time, creating a way for users to use tokens to earn while still being able to adapt to fluctuations in the market. With no minimum staking period, users have the opportunity to profit on their preferences. The ROI for the Soft Staking projects will be an annualized return rate based on each project individually. Not the most impressive of returns in comparison with some of the other staking projects currently available, but in combination with the freedom provided is a compelling prospect.
For solving the pain points of staking, KuCoin has been trying to provide solutions all the time like its previous Soft Staking. Meanwhile, to maintain a smooth withdrawal process, the exchange platform cannot stake all users’ assets. To stimulate the future development of the PoS ecosystem and prevail over the difficulties, Pool-X has entered the scene. However, it goes beyond just a solution to such a dilemma. Established as a means to facilitate the development of the staking market as a whole, Pool-X is a free market for staked assets, aiming to create an ecosystem that will solve the liquidity dilemma of staked assets. At present, Pool-X is providing services for over 300,000 users from 167 countries/regions.