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All You Need to Know About KuCoin Exchange’s Staking Function Pool – X

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KuCoin Exchange is a global cryptocurrency exchange with more than 8 million active users. The exchange lists above 400 digital assets and above 700 trading pairs. A factor exclusive to the exchange is that it allows users to buy and stake on a plethora of low-priced coins, being the world’s biggest secondary market of niche coins. Its other functions include Spot trading, Margin trading, P2P fiat trading, Futures trading, Lending and investing in new project tokens. 

Pool-X is KuCoin Exchange’s staking platform that users can utilize to earn a steady passive income. Users can visit the Pool-X platform from the Finance option on KuCoin Exchange to check out its various features and promotions. Let’s try to understand what makes the KuCoin Pool-X an ideal platform for staking.

Pool-X: Unique Factors 

The fact that Pool-X offers a completely free market to liquidity agents and stakers is its unique selling point. Pool-X sets the stage for multi-node on the public chain across diverse crypto assets and users. Pool-X offers users deep liquidity as well as a decent return on staking. Rounding up the benefits of Pool-X: 

● Free market (allows any node) 

● User-friendly interface for staking with an automatic calculator

● Deep liquidity 

● Stakers receive a share of the 250,000 POL tokens allocated daily along with their staking returns 

● Enjoys the high-end security features of one of the best-rated cryptocurrency exchanges in the world and ensures users’ funds are protected. 

● Staking rewards could be as high as 12% Annual Percentage rate ● Conducts promotional activities from time to time with more rewards on staking particular coins. For example, Pool-X is currently offering flexible staking on HAKA with 40% APR excluding POL rewards.

Pool-X Liquidity Trading Market Function 

All You Need to Know About KuCoin Exchange’s Staking Function Pool - X 1

Pool-X is not just about staking. It also allows users to operate mining nodes and earn POLs, or Proof of Liquidity tokens, which are Pool-X’s native tokens. Trading is another important function of Pool-X. Users can buy and sell staked crypto assets which in turn helps to add more liquidity to the market and the staking community. 

This means users can trade their staked token for a non-staked version of the same token by paying a trading fee. For instance, a user who sells their TRX after holding it for 10 days on a lock-in period of 30 days will have the same amount of non-staked/tradable TRX. 

Earning Double Rewards 

Earning double rewards is the most unique feature on Pool-X. The second reward besides the staking returns comes in the form of Proof of Liquidity tokens. POLs are distributed daily from a pool of 250,000 tokens which was worth $44,250 at the time of writing. 

POL is a decentralized TRC20 token whose main function is to create liquidity in the Pool-X staking ecosystem. POL bridges the gap between the staked tokens and those in circulation. Users can pay with POL to get instant liquidity and obtain new assets even when they are locked up through staking. 

Annualized Rate of Return Calculation 

The annualized rate of return is assessed based on the historical market revenue and is used as a reference point. The actual amount that users receive in their accounts is considered as the original reward. For instance, the annual rate of return on ATOM represented as 7% +3.32% means the expected annualized return of ATOM is 7%. In addition, the expected annualized return of POL will be 3.32% which would be expressed in ATOM.

Coins supported for staking 

All You Need to Know About KuCoin Exchange’s Staking Function Pool - X 2

Pool-X supports a decent number of crypto coins including big coins and low-prized niche tokens. The coins available for staking are HYDRA, LUNA, KSM, DOT, TRX, VSYS, WAN, EOS, TOMO, ATOM, KCS, FEAR, VAI, ALPACA, HOTCROSS, HORD, TOKO, MATIC, ADA, SUKU, XNL, OPUL, OUSD, BEPRO, IDEA, SWINGBY, ANC, ZIL-gZIL, and LINK. 

Things to remember 

● Users must ensure they have enough coins in their Pool-X account.

● During the staking period, the staked coin asset can be traded in the liquidity trading market and unlocked as well. However, one must also remember that each flexible product has a redemption period.

● For Flexible staking, staking and POL rewards do not accumulate during the redemption periods. 

● Users receive their staked coins after the redemption process ends. The staking rewards and the mining rewards (denominated in POL) are added to a user’s Pool-X account regularly. 

Conclusion 

Staking is one of the simplest ways to earn a steady passive income in the crypto world. Kucoin Exchange has established a user-friendly product in Pool-X to encourage more crypto traders to stake their coins. The extra rewards on top of an average APR of 12% that come in the form of Pool-X’s native token POLs make staking on this platform worthwhile.

A common problem of many staking platforms is low liquidity. Pool-X seems to have combatted this challenge by introducing a trading market within the staking function. The fact that it also allows the withdrawal of staked assets right after the completion of the redemption period without having to compromise on rewards makes Pool-X highly convenient. To sum it up, Pool-X is one of the best platforms to earn by staking, mining, and trading. Get daily updates like this about KuCoin Exchange’s various features on their Twitter community.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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