Kucoin Pool-X Review [2022] – How Does Pool-X Soft Staking Work?

Kucoin Pool-X Review [2022] – How Does Pool-X Soft Staking Work?
Kucoin Pool-X Review [2022] – How Does Pool-X Soft Staking Work?
Kucoin Pool-X Review [2022] – How Does Pool-X Soft Staking Work?
Free market (completely freely choose the node).
Ability to easily trade staked tokens (liquidity trading market).
Share of the daily 250,000 POL tokens allocation along with their regular returns or profit from staking (double earnings).
Part of one the biggest cryptocurrency exchanges - Kucoin.

What is Pool-X?


Kucoin is widely considered as one of the largest cryptocurrency exchanges. It is very easy to use and most of its users agree KuCoin is pretty safe. One of the many features available on this platform is called Pool-X and we are going to take a closer look at it in this article.

Kucoin announced back in 2019 that its staking platform is moving to a fresh new staking system called Pool-X. It is an innovative Proof of stake (POS) mining tool that offers effective staking, liquidity mining, and trading with very nice returns.

The platform offers a variety of services including operating on the liquidity trading market, node integration, and operational solutions to build a passive income. The main difference between Kucoin’s previous staking platform and Pool-X is the increased number of services and features.

By establishing this effective staking and liquidity mining tool, Kucoin has shown its goal to be the leader in the development of the crypto staking and PoS mining market as people look for secure,  profitable and flexible staking options and opportunities. 

Visit Kucoin Now

Pool-X Key Features


As already mentioned, Pool-X is all: staking, trading, and mining platform where users can take part in staking pools and operate mining nodes. Let’s jump into the main features of Pool-X that can be extremely useful for you if you are into the mining and staking crypto market. 

Liquidity Trading Market


Pool-X has developed its liquidity trading market. The market allows users to buy and sell staked digital assets which actually brings more liquidity and flexibility to the staking economy.

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The main thing about the liquidity trading market is that users are able to trade their staked tokens with their tradable and non-staked assets by paying a certain amount of trading fee. For example, if you chose to stake TRX for 30 days and 10 days later you decide you want to sell staked tokens, you can do it on the liquidity trading market and immediately have the same amount of non-staked and tradable TRX. 

Double Earnings


One of the most innovative features on Pool-X is the fact that you can earn double rewards. During the staking period, you can obtain these double rewards, including the regular staking rewards and the mining rewards (in POL), which is distributed among all stakers account on Pool-X daily.

Daily Staking Rewards


Users on Pool-X enjoy both the mining rewards –a share of the 250,000 daily POL tokens allocation which are distributed among stakers on Pool-X and the staking rewards –as high as 12% Annual Percentage Rate (APR) of the respective staked coins. 

Interesting feature on Pool-X is that users are actually rewarded daily. In fact, rewards are calculated every day and distributed the next one. 

Supported tokens


There is a more than decent amount of tokens that can be staked on Pool-X such as HYDRA, LUNA, KSM, DOT, TRX, VSYS, WAN, EOS, TOMO, ATOM, KCS(Beta), FEAR, VAI, ALPACA, HOTCROSS, HORD, TOKO, MATIC, ADA, SUKU, XNL, OPUL, OUSD, BEPRO, IDEA, SWINGBY, ANC, ZIL-gZIL, and LINK.

What is POL?


You probably noticed that I have already mentioned the POL token in this article (as the token shared among stakers on Pool-X), so it’s fair to explain what POL actually is. 

Proof of liquidity (POL) is a decentralized token issued by the Pool-X exchange based on TRON’s TRC20 protocol. It plays a pivotal role in the Pool-X ecosystem. POL is used as a bridge 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.

At the time of writing, the current supply of POL in circulation is 190.44 Millions tokens and the total supply of Proof Of Liquidity that will ever be issued is 1.00 Billion tokens. 

How to stake coins in Pool-X?


I found staking in Pool-X pretty much user-friendly as well as easy. Users are actually able to completely freely choose the node while receiving benefits of staking different digital assets. Of course, some POL tokens are generated for all users who stake their tokens on the platform.

As already mentioned above, annual percentage rate (APR) goes up to 12%. It is safe to say that this percentage is pretty decent, but not extremely high, especially when it is compared to some other staking platforms. 

It’s good to note, at this point, that the views expressed in this article are NOT to be considered as FINANCIAL ADVICE.

Read also:

Why is Pool-X better than the other staking services?


This is probably a question for more detailed discussion, but I would still like to state a few very important facts that might make you think “Pool-X is indeed one of the best (if not the best) staking platforms”.

What makes Pool-X different is the fact that it is a completely free market. It possesses different operational views by comparing the traditional mining pool. You wonder how different, aren’t you?

Well, it operates without further engaging in competition with the node. Pool-X is mainly focused on introducing multi-node on the public chain to diversified crypto assets and all users. Users can trade the staked crypto assets in the platform and have sufficient liquidity. 

What are the Pros and Cons of Pool-X?


Pros


  • Free market (completely freely choose the node)
  • Ability to easily trade staked tokens (liquidity trading market)
  • Share of the daily 250,000 POL tokens allocation along with their regular returns or profit from staking (double earnings)
  • Part of one the biggest cryptocurrency exchanges – Kucoin

Cons


  • Annual percentage rate (APR) is decent, but not super great

Conclusion


Staking is one of the easiest ways to earn passive income in the crypto world, isn’t it? Kucoin has shown great initiative to make this feature super easy for its users by establishing its own staking and mining platform Pool-X.

With different kinds of benefits for its users such as  solutions for low liquidity problems through the liquidity trading market or withdrawals of staked assets without sacrificing rewards, Pool-X has definitely established itself as one of the important players in the staking world. 

To sum it up, Pool-X is indeed one of the best platforms out there where you can earn by staking, mining, and trading with anyone who is interested in taking part in the staking ecosystem. 

9 Total Score
KuCoin Pool-X

Ease of use
9
Supported assets
9.5
Fees
8.5
Security
9
PROS
  • Free market (completely freely choose the node).
  • Ability to easily trade staked tokens (liquidity trading market).
  • Share of the daily 250,000 POL tokens allocation along with their regular returns or profit from staking (double earnings).
  • Part of one the biggest cryptocurrency exchanges - Kucoin.
CONS
  • Annual percentage rate (APR) is decent, but not super great.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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