Unsure if it is the acquisition news Justin Sun was talking about yesterday, but Tron Foundation has now joined forces with KuCoin-incubated POOL-X, a PoS mining pool, based on TRON’s TRC20 protocol, that supports lockup of crypto transactions.
As stated in an statement by Justin Sun, Tron is now working with POOL-X, “the next generation PoS mining Pool”. Sun referred to the achievement as the pathway to the future.
While relating the details of the partnership, POOL-X noted that it has the same vision with Tron, hence, the collaboration will be of great service.
POOL-X explained that Tron’s mission to be the underlying architecture for dApps as well as to make the internet decentralized, matches its own dream.
The mining pool platform said it will work with Tron to embrace a new era of PoS.
#TRON's mission is to be the underlying architecture for dApps, and therefore building a truly decentralized internet, which is consistent with the vision of Pool-X.
— POOL-X (@pool_x_official) December 2, 2019
Via the latest deal, users can lockup their TRC20-USDT tokens on the mining pool platform to get POL credits, and the LockDrop will run for 6 rounds. The quantity of POL credits given to people who lockup their tokens will be based on first come first serve.
Issued by Pool-X, the POL (Proof Of Liquidity) granted to people is a decentralized zero-reservation credit.
Pool-X Incubated by KuCoin
Pool-X, which was incubated by KuCoin, aims to stimulate future development of the PoS ecosystem.
The platform offers myriads of services that includes operational solution, node integration, and liquidity trading market.
It is a next-generation trading platform that permits users to take part in staking pools and operate nodes.
Users of Pool-X also have the opportunity to unstake their tokens when they wish. The platform was design as a facilitation for the development of the staking market.
The platform has a Liquidity Trading Market, a matching means for users who hold some staked tokens on Pool-X.
Through the trading market, users have the advantage of redeeming digital currencies in the short term by just placing an order. After the order is placed and met, users can trade the assets just by paying extra fees in POL.
POL (Proof of Liquidity) is a token on the Pool-X platform. The digital token was launched to cope with the inadequate liquidity of staked crypto assets. It is the payment means employed on Pool-X. It has another use case known as “Node Search Optimization”.
When more nodes join, and the market expands, then competition sets in. Search optimization makes it easy for nodes to gain adequate attention from users, making them stand out from others.
As the market expands, demand for Node Search increases. Therefore, payment in POL will be needed to achieve the search.
Meanwhile, in spite of the tiring market situation, the Tronix community members remain vigil, waiting for the revelation of the mysterious announcement Justin Sun promised, which will be coming soon. As usual, followers expect that the announcement could help boost the price of the cryptocurrency a little above its present level.
It is unclear if the latest announcement is the acquisition Justin Sun was talking about for Tron and BitTorrent.
Tron and BitTorrent are among the profitable coins in the market today, while most cryptocurrencies are unstable. Tron is up by 0.13% against the US Dollar in the last 24 hours, and also BitTorrent is riding on an upside trend with close to 2% added value.
There are still little to no indications that both Tron and BitTorrent will make a strong recovery on the upside trend of the market, but CEO Justin Sun may still have more positive news that may thrust the price of the coins upward.