The Kucoin team recently announced the launch of the trial version
of its PoS next generation mining pool. The excitement generated by the launch stems from the platform’s belief that this would address challenges associated with liquidity of proof of stake mining pools.
The project is an independent subsidiary of the Kucoin platform aimed at stimulating growth on the platform and the crypto ecosystem in general. Some of the features of the Pool-X include lockups that would incentivize liquidity, node integration and operational solutions.
The release invited users to join the platform to incentivize high-end projects that would serve the Kucoin ecosystem as well as the industry, adding that the proof of liquidity (PoL) on which Pool-X is built on will help boost liquidity through the record of the flow of funds with certificates used as liquidity bids.
The uniqueness of the system in its focus on liquidity makes it such that there are no reservations of the POL for any entities or stakers upfront even among team members. This ensures transparence making only the holders of the liquidity certificate entitled to access the services of the platform.
A release on the Telegram channel of the Pool-X platform stated:
“By supporting lockup-crypto transactions, it aims to stimulate the future development of the PoS ecosystem. Services offered by Pool-X include, but are not limited to liquidity trading market, node integration, and operational solutions.”
Speaking on the release, Brent Johnson, the Kucoin Admin on the platform shed more light on the project stated that the emphasis is on incentivizing the staking of digital assets.
“It is a single/multi-currency and multi-node trading platform that provides users with quick access to select high-quality staking pools and nodes. Based on the nature of the Pool-X mechanism, it also establishes a competitive system that offers a liquidity trading market, node integration and operational solutions.”
The post called on the community to keep abreast of subsequent updates while endeavoring to add their feedbacks on the platform to ensure improvements.
Pool-X Website: http://pool-x.io