Pool-X the popular trading platform has launched its most awaited LockDrop Activity in which 2% of intact POL supply will be distributed. POOL-X is a self-sufficient subsidiary incubated by KuCoin. It supports lockup crypto transactions. It aims to promote the upcoming development of PoS ecosystem.
Pool-X is a trading platform where users are allowed to participate in operate nodes and staking pools.
This project began on November 5, 2019, and likely to continue in existence for three weeks tenure. Lockdrop will cover around six rounds and each round will permit user 24 hours to deposit and lock TRC20 USDT tokens for one to four weeks. During this time, the users will be able to earn a specific amount of POL.
LockDrop has developed as one of the only options where users can achieve the POL token at this time much before its scheduled listing on KuCoin.
POL plays an essential role in Pool-X ecosystem and can be defined as Tron based token. It has used as the standard asset of liquidity costing at the platform and as the medium for liquidity certificate records among the different use cases.
The token was created on the TRON public chain based on feedback acquired by the POOL-X community and TRON users. They highlighted the benefits of the blockchain that may include increased TPS of nearly 2000 transactions per second and no transaction fees.
A few days back KuChain announced the launch of POOL-X with the strategy to better and boost involvement in staking-based cryptocurrency projects. KuCoin produced and monitored the growth of the platform which expected to change the blockchain scenario by forming an ecosystem focused on authorizing digital asset staking.
The upcoming generation POS Mining Pool, Pool-X has been designed on the lines of KuCoin’s independent Soft Staking program by presenting increased functionality useful for the staking ecosystem. It is most likely to include a node integration solutions and node market. It will help mining pools gain access to their target users and permitting them to build an industry-class PAAS, also known as “Pool As A Service”. Not like other staking platform users on the Pool-X can withdraw their tokens at any point in time so that they can adjust according to the volatile market conditions.
Since August the platform had gained huge progress in developing a community when it went live even before the scheduled launch of its POS Mining Pool services. With KCS lockup activity Pool-X witnessed its success, which remarked users lock up 500 KCS for 24 hours over 4 rounds in a bid to achieve a share of $40,000 worth POL.