KuCoin’s PoS Mining Platform Pool-X Launches Pre-listing LockDrop Activity
Pool-X, the next generation POS mining platform supporting lockup crypto transactions backed by KuCoin, today announced the POL LockDrop Activity Special Rounds, which will start on February 28, 2020.
KuCoin Blazing the Trail
There are a total of 4 different sessions of LockDrop Special Rounds including BTC session, ETH session, KCS session, and TRX sessions. For every session, users are able to lock up BTC, ETH, KCS or TRX on KuCoin and will be able to receive corresponding POL shares according to the lock-up amount. This part of the POL share will be taken from 8% of the Budget System that was referred to in the POL whitepaper, and a total of 80 million POL will be distributed throughout the campaign.
After the POL/USDT pair gets listed on KuCoin, 20% of the reserved POL will be made available for users. The remaining 80% of the reserved POL can be acquired by participating in the business of the Pool-X platform. Also, users can accelerate the release process of reserved POL shares by inviting new users to stake on Pool-X or by participating in Net Buying.
“Pool-X’s LockDrop activity will further contribute to the liquidity of POL and benefit the upcoming listing of POL token.” Johnny Lyu, co-founder of KuCoin said. He added:
“The LockDrop will be a win-win for the platform and all KuCoin users, as investors can make direct profits by participating in the LockDrop, while Pool-X could promote itself and grow its holder base, leading to the prosperity of the POS mining pool as a result.“
Pool-X was officially released in August 2019 as a PoS mining platform incubated and independently operated by the KuCoin team. By supporting lockup-crypto transactions, it aims to stimulate the future development of the PoS ecosystem. Services offered by Pool-X include, but are not limited to, Liquidity Trading Market, Node Supermarket, and operational solutions.
POL (Proof Of Liquidity) is a decentralized zero-reservation credit issued by the Pool-X mining platform and is based on TRON’s TRC-20 protocol. They have a total supply of 1 billion.
POL serves the role of credits for Pool-X, helping to record the flow of liquidity certificates and working as the payment method for liquidity bids. Ultimately, POL was created to cope with the inadequate liquidity of staked crypto assets. Due to their nature, zero reservations of POL are to be provided to the team or any individual upfront.