FAQ of Pool-X Community
1. What is Pool-X?
Pool-X is an exchange that provides liquidity for pledged assets. Unlike traditional mining pools, Pool-X does not compete with the nodes. Users are able to freely choose a node while receiving benefits from the staking of the digital asset plus a certain amount of the POL that is generated each day. Users can get liquidity by trading the staked crypto assets through the use of POL in the liquidity trading market, which lowers the barrier for staking and increases the staking rate while improving the overall security.
After completing the early stages of the free-market construction, it will gradually switch to a decentralized platform and be jointly governed with the community in an autonomous manner.
2. What is POL and how to obtain POL?
POL (Proof Of Liquidity) is a decentralized token issued by the Pool-X exchange based on TRON’s TRC20 protocol. POL has been listed on KuCoin. Zero reservations have been provided to the team or any individual upfront. Playing a substantial role in the Pool-X ecosystem, POL bridges between tokens that are staked and those in circulation, paying with which allows the users to obtain instant liquidity even when the crypto assets are still in staking. POL is an incentive for participants who contribute to the balancing of market volatility and ecological governance, as well as the fuel for extracting Pool-X system resources.
Users can obtain POL now by:
Staking tokens on Pool-X
Trading on the Pool-X Exchange
Trading POL in the KuCoin spot trading market
3. What is the distribution of POL?
The total supply of POL is 1 billion, composed of LockDrop (10%), Staking Mining (50%), POL Node Mining (28%) and the Budget System (12%).
4. What is the logic to POL’s upward appreciation?
POL is the barometer which supervises the activeness of the PoS ecology. The market demand and liquidity of POL increases when the price of a staked crypto fluctuates normally. The listing of more staking projects and the engagement of nodes in Pool-X will also tremendously enhance the demand of POL in the liquidity exchange as well as accelerate the destruction of POL, ultimately forming a virtuous circle in the PoS economy.
5. What are the release rules for POL?
The release rules for POL LockDrop and Staking are different.
If users participate in Staking only:
20% of the POL that is mined can be directly traded, with 80% being frozen for 6 months and gradually unlocked each month from the 7th month, at a rate of 20% per month for a total of 4 months.
For example, Harry mined 1000 POL on the day he participated in Staking. After deducting 8% for the mining fee, he can get 920 POL, of which 184 POL can be traded directly, and the remaining 736 POL will be frozen for 6 months and will be unlocked in the following 4 months at a rate of 184 POL per month.
If users participate in LockDrop:
20% of the POL that is obtained can be traded directly while the remaining 80% will be frozen. This amount is released by participating in Staking, and can also be accelerated (Participating in Staking is a precondition) by inviting referrals to participate and net buying amount. (See question 6 for more details). Please note that the locked POL (80%) will be deemed as abandoned after the ‘Remaining Time for POL Release’ period has passed on the website and will be ultimately burned.
For example, if Hermione participated in LockDrop and she obtained a total of 1000 POL, then 200 of them can be directly traded, while the remaining 800 POL need to be released by participating in Staking. If she mined 1000 POL and received benefits from the Staking on the day she participated in Staking. After deducting 8% for the mining fee, she can get 920 POL. ALSO, she can release 460 POL (920*50%) from the locked 800 POL of LockDrop.
6. How to accelerate the unlocking of POL obtained by participating in LockDrop?
80% of the POL obtained by participating in LockDrop needs to be unlocked by participating in Staking. Users can also accelerate unlocking by inviting referrals to participate as well as their net buying amount.
Net Buying Acceleration: The initial acceleration coefficient is 1 and the user’s net buying amount of the previous week will decide his/her net buying acceleration coefficient this week. The formula for calculating net buying acceleration is as follows:
Net Buying Acceleration Coefficient = 2–0.9^[(Net Buying(USDT)/400 (USDT)]
For example: Dumbledore bought 500 USDT of POL on Monday and sold 100 USDT of POL on Wednesday. If he did not trade POL on spot trading at other times this week, his net buying amount of this week was 400 USDT. So his net buying acceleration coefficient of next week is 2–0.91=1.1, that is, if his mining amount of the next Monday is 100 POL, then the released POL amount of the next Monday is 100 POL*1.1 = 110 POL.
Referral Acceleration: By inviting new users using your Referral Link or Code who go on to participate in the staking of any token and contribute more than 100 USDT, the original user will enjoy a vesting speed-up. The initial acceleration coefficient is 1 and The acceleration coefficient changes with the increase in the number of users invited and is effective for a long time.
For example: Dumbledore invited 2 users to participate in Staking on May 23. Harry staked 500 USDT of ATOM, and Snape staked 20 USDT of TRX, so the effective referral is just Harry. So Dumbledore’s Referral acceleration coefficient on May 24 is 1.1, that is, if his mining amount on May 24 is 100 POL, then the released POL amount of that day is 100 POL*1.1 = 110 POL.
Check the rules and your acceleration records:
7. What is the redemption period of the Staking interface?
The redemption period is the period that users need to wait for redemption. Redemption is a behavior on the blockchain and is set by projects based on their own network security. Therefore, the redemption period of each project is different. For example, the redemption period of ATOM is 21 days.
8. What is the distribution rule of POL obtained by Staking (the POL Mining Computing Power Evaluation System)?
The platform launched the new “POL Mining Computing Power Evaluation System” on June 18, 2020. Please click this link for more information https://www.kucoin.com/news/en-announcement-regarding-the-pol-mining-computing-power-evaluation-system-and-partial-adjustment-of-the-staking-products
The current total daily mining volume of Pool-X is 200,000 POL, which will be distributed according to the proportion of users’ computing power to the platform computing power on Pool-X.
For example:
Ron participated in TRX-Staking by locking 10,000 TRX on July 20. According to the current market value of TRX, it is converted to 162.9 USDT. The whole platform computing power on Pool-X is X USDT that day. The redemption period of TRX is 3 days, so according to the new “POL Mining Computing Power Evaluation System”, the Redemption Period Adjustment Coefficient of TRX-Staking is 0.4.
So Ron can mine 162.9 * 0.4 / X * 200,000 POL on July 20. After deducting 8% for the mining fee, he can obtain 162.9 * 0.4 / X * 200,000 * (1–8%) POL that day.
Hermione participated in ATOM-Staking by locking 100 ATOM on July 20. According to the current market value of ATOM, it is converted to 282.4 USDT. The whole platform computing power on Pool-X is X USDT that day. The redemption period of ATOM is 21 days, so according to the new “POL Mining Computing Power Evaluation System”, the Redemption Period Adjustment Coefficient of ATOM-Staking is 1.
So Hermione can mine 282.4 * 1 / X * 200,000 POL on July 20. After deducting 8% for the mining fee, she can obtain 282.4 * 1 / X * 200,000 * (1–8%) POL that day.
Harry participated in NWC-21D by locking 10,000 NWC on July 13. According to the current market value of NWC, it is converted to 384 USDT. The whole platform computing power on Pool-X is X USDT on July 21. On July 21, there is still 13 days before the redemption of NWC-21D.
So the redemption period of NWC-21D on July 21 is 13 days. According to the new “POL Mining Computing Power Evaluation System”, the Redemption Period Adjustment Coefficient of NWC-21D on July 21 is 0.6.
So Harry can mine 384 * 0.6 / X * 200,000 POL on July 21 . After deducting 8% for the mining fee, he can obtain 384 * 0.6 / X * 200,000 * (1–8%) POL that day.
The redemption period of Fixed Staking products will reduce every day when calculating starts. Users can check the Redemption Period Adjustment Coefficient in the following image. The redemption period will affect the liquidity of the staking. The shorter the redemption period is, the less the users are likely to redeem the staked funds and vice versa. The Pool-X platform designs the corresponding coefficient based on the length of the redemption period regularly.
(We recommend using the calculator function on the official website where users can get the estimated POL mining amount quickly.)
9. What is the difference between Soft Staking and Staking?
KuCoin pioneered the Soft Staking — Cash Back Investment Program worldwide. Users can transfer or deposit assets to the Pool-X platform (not locked) and receive the staking revenue (when meeting the minimum holding amount) the next day (following a 24-hour average position snapshot). With daily staking and no minimum staking period, users can deposit and withdraw their assets anytime.
Users can obtain staking rewards and receive the mined POL by participating in Staking. The APR of Staking is higher than Soft Staking. For example: there are two Staking products of TRX. Users can apply to redeem at any time if they participate in TRX-Staking. TRX-90 days has the hard cap of the whole platform, and users cannot apply to redeem before the fixed period. However, users can obtain liquidity by trading their staked TRX (both TRX-Staking and TRX-90 days) in the liquidity trading market.
10. Why are there two APRs for each coin?
If users participate in Staking, they can also mine POL at the same time on Pool-X. The Reference Annual Yield is composed of staking rewards and the annual yield after converting POL to the staked coins.
11. When will the rewards be distributed each day?
The rewards on Pool-X (from both Staking and Soft Staking) will be calculated daily and distributed the next day. The Staking rewards of coins start being distributed around 4 pm (UTC+8) every day, while the earnings of Soft Staking start being distributed around 5 pm (UTC+8) every day. The unlocked mining POL starts to be distributed around 6 pm (UTC+8) every day.
12. How to Make a Trade in the Liquidity Trading Market
Instead of waiting for redemption, users can trade their staked assets in the liquidity trading market. Click the “Exchange” button at the top of the page to enter the Liquidity Trading Market and choose the trade products.
If Snape wants to sell his staked TRX (TRX-Staking), he can click “Sell TRX-Staking” and sell his staked TRX by clicking “Sell” on the right side of the order according to the different price in the order book. The sell page will pop up on the right side of the screen. Enter the quantity and trading password, then click “Place Order”.
Notice: Trading fee: 5%. Since Snape needs to use POL to trade, his account should have enough POL to make the deal.
If Snape wants to buy TRX-Staking, he can click “Buy TRX-Staking” and buy staked TRX by clicking “Buy” on the right side of the order according to the different price in the order book. The buy page will pop up on the right side of the screen. Enter the quantity and trading password, then click “Place Order”.
Notice: Trading fee: 5%. Snape needs to ensure that his account has enough POL and TRX to make the deal.
If there is no price that meets Snape’s expectations, he can click “Post Offer” to place an order.
13. Is there any staking profit during the unstaking / redemption period?
Please kindly note that the redemption process requires a certain number of days to complete and no staking profit (staking rewards or POL) will be generated during the unstaking / redemption period. Users can trade on the liquidity trading market to unlock their staked assets.
14. Will the KuCoin VIP Level of users be affected If users transfer KCS to the Pool-X account or participate in KCS-Staking(Beta)?
The KCS transferred to the Pool-X account and the staked KCS will both be snapshotted without affecting the KuCoin VIP Level of users.
15. How will my locked POL from Staking be distributed after 6 months?
20% of the POL that is mined can be directly traded, with 80% being frozen for 6 months and gradually unlocked each month from the 7th month, at a rate of 20% per month for a total of 4 months. It will be distributed to users every day after 6 months’ waiting.
For example, Cedric obtained 100 tradable POL (20%) through Staking on January 9, and he will receive 100 POL (20%) on the 9th of every month from July to October, which adds up to 100% of the POL earned.
16. What’s the difference between “POL Earnings” and “POL Mining” in the Earning Details interface?
POL Earnings are tradable POL including released POL from LockDrop by staking and the 20% tradable POL from POL mining.
POL Mining is the POL you got from mining today composed of 20% tradable POL and 80% Locked POL.
17. Will the airdrop of JST and WIN be affected if users participate in TRX-Staking? When will the snapshot and distribution take place?
The airdrop of JST and WIN will not be affected if users hold TRX on Pool-X, or participate in TRX-Staking, including TRX-90D and Soft Staking of TRX.
Pool-X will support the monthly airdrop program of JST. The snapshot of TRX balances will be taken at 08:00:00 (UTC+8) on the 20th day of each month.
https://www.kucoin.com/news/en-jst-monthly-airdrop-program-instructions
The BitTorrent Foundation has discontinued the BTT airdrops to TRX holders.
https://www.kucoin.com/news/en-announcement-regarding-the-end-of-btt-airdrops-to-trx-holders
Pool-X will support the monthly airdrop program of WIN. The snapshot of TRX balances will be taken at 00:00:00 (UTC+8) on the 28th day of each month.
https://www.kucoin.com/news/en-wink-win-monthly-airdrop-program-instructions
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