Hi again guys and gals, welcome back to my blog. Today I want to talk about Pool-X platform, I'll try explaining in detail about what is Pool-X and how its work, without further ado let's start this article now.
Introduction
Pool-X is a free market for Staked Assets, aiming to establish an ecosystem in solving the liquidity dilemma of Staked Assets. Firstly, Pool-X will offer liquidity solutions for the Staked Asset class on the blockchain, then introduce more asset classes at a later date. Secondly, Pool-X will focus on building a liquidity trading venue catering to supply and demand sides, providing a solution for the liquidity dilemma of Staked Assets, lowering the fractional cost for staking, improving staking rates. In parallel, Pool-X opens a channel for users to manage Staked Assets easily, also choose a like-minded service provider in governing their Staked Assets (node option). Furthermore, Pool-X holds rigid principles onboarding core service providers, catering to their needs while enabling tools like liquidity exchange and client management, which would forge mutually beneficial relationships. After the initial iterations, the governance will be delegated to the community until a decentralized stage, where Staked Assets of DeFi, derivatives, and other classes will be integrated into the ecosystem, by the help of all participants.
How Its Work
When a user has entered the Pool-X ecosystem, users will need to stake their assets. In early stages, users may choose to stake by selecting the desired node from the node network, thus generating a staking certificate and automatically participating in Pool-X's staking mining. The user's Mining Power depends on the value adjusted by the Liquidity Evaluation System. The mining of POL is carried out based on an individual score of Mining Power (Individual Score= Individual Mining Power/Total Mining Power). As for Staked Asset's liquidity dilemma, Pool-X has provided a solution through the liquidity trading venue, where liquidity providers can supply liquidity. The pricing of acquiring liquidity for Staked Assets will be automatically adjusted by supply and demand of the market. Hence the free flow of Staked Assets and liquidity supply could be realized.
Advantages of Pool-X
Pool-X is a free market. It possesses different operational views by comparing the traditional mining pool, that is, without further engaging in competition with the node. Pool-X is mainly focused on introducing diversified crypto assets and multi-node on the public chain to all users. Users can freely choose the node while receiving benefits from the staking of the digital asset, plus a certain amount of POL is generated for the user to obtain. Such a mechanism is built to avoid the staking benefits being further confiscated by Pool-X. Users can get liquidity by trading the staked crypto assets through the use of the platform's credit/point in the liquidity trading market. After completing the early stage of free-market construction, it will gradually transfer the role into a decentralized platform and jointly governance with the community in an autonomous manner.
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At the moment on the Pool-X platform, they have around 23 different coins that you can stake on, all of them have a high annual staking percentage, check them on your self if you don't believe me, I put the important link on the bottom of this article. To start staking on Pool-X you just need KuCoin account, since both of them are connected. The minimal amount to start staking is also pretty low compared to other platforms. That's all from me today, thanks for reading the article, as always please make your own research before make investment on anything!
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Important Link
•Reddit r/poolx
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Author Detail
Bitcointalk: Asa Crypto Info
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