Pool-X, an exchange that provides liquidity for staked crypto, announced that Pool-X platform 1.1 will be released on April 10, 2020 (UTC+8), supporting the staking services of 8 crypto assets, including EOS, ATOM, and TOMO. At the same time, in order to adapt to the fast-growing liquidity market trading needs, POL will be listed on KuCoin exchange, and the POL/USDT trading pair will be available.
The Pool-X exchange is donated by KuCoin and TRON. It is an exchange that provides liquidity for all users in the PoS ecosystem. It will gradually transition to a decentralized stage and be jointly governed by the community in the future. Pool-X is the world’s first platform that proposed the concept of Proof of Liquidity and issued POL without any reservation.
Recently, the PoS consensus mechanisms and staking economy have developed rapidly. As of last month, there were more than 70 projects participating in staking in the market. Although PoS will become increasingly mainstream, there are still many factors that stop users from staking, such as the liquidity risk during staking. Most PoS tokens have a period of “unbinding” after the end of staking. Considering the high volatility of crypto, investors may suffer losses due to the drop in token prices during the unbinding period. Pool-X is a free market that solves the liquidity problem of staked crypto.
KuCoin Global CEO Johnny Lyu said, “PoS consensus mechanism and staking mechanism are important infrastructure to promote the sustainable development of the crypto market. For the PoS projects, the staking ratio is very important, a low rate is not conducive to network security, and a high ratio is not conducive to token liquidity. More and more high-quality projects set their theoretical staking ratio at around 67%. We think crypto assets using PoS consensus mechanisms will account for 90%, that is, more than 60% crypto assets of the entire network will be in the staked status in the future. The liquidity needs of such huge crypto assets will be described in terms of the value of POL.”
POL is an important part of the Pool-X ecosystem, as the connection for measuring liquidity needs and a link between staking assets and freely circulating assets. POL encourages participants to balance the supply and demands of liquidity of the staked assets during the process of transactions. It is the fuel to connect the resources of the Pool-X ecosystem and an incentive for ecological governance.
Pool-X will gradually support more types of crypto assets and access nodes on each chain to better serve users in the entire PoS ecosystem. With POL listed on KuCoin, both parties will jointly launch more high-quality activities.
