ETH2.0 Staking Now Available on Pool-X
✨Are you ready?✨
Participate to enjoy double rewards🎁
Trade free to obtain assets liquidity😎
Part 1. What is ETH2.0?
ETH 2.0 refers to a set of interconnected upgrades from the current PoW mechanism to a PoS one, making the Ethereum ecosystem more scalable, more secure, and more sustainable. The current upgrade process consists of 4 phases: phase 0, phase 1, phase 1.5 and phase 2 (this may be subject to changes in the future).
Part 2. How to Participate?
1. Starting time: 16:00:00 on December 1, 2020 (UTC+8).
Starting time for rewards calculation: 20:00:00 on December 1, 2020 (UTC+8).
2. Participation Ways
2.1 Web: Deposit/transfer your ETH to Pool-X account to exchange ETH-anchored ETH2 tokens at a ratio of 1:1.
How to Deposit:
2.1.1 Enter the Pool-X page, enter the ETH2.0 activity interface, click "Start ETH2.0 Staking"-"Deposit", please withdraw your ETH from another exchange or your personal wallet to this address, and then exchange ETH-anchored ETH2 tokens at a ratio of 1:1.
2.1.1 You can also enter the KuCoin page, click "Assets-Deposit-ETH" to enter the ETH deposit page, and withdraw your ETH from another exchange or your personal wallet to this address.
How to Transfer:
After the deposit is successful, please transfer your ETH to your Pool-X account.
How to Exchange:
Enter the Pool-X page, enter the amount of ETH you want to exchange, and verify the trading password. Please note that the exchange of ETH to ETH2 is a one-way behavior with a fixed exchange rate of 1:1. The minimum amount to exchange: 0.01ETH.
2.2 APP: Click "Assets" on the page and withdraw ETH to the designated address "ETH2" to obtain the ETH-anchored ETH2 tokens.
3. How to Trade?
App: Enter the trading interface and select the ETH2/ETH trading pair to trade. (How to Trade?)
Part 3. FAQ
1. What is ETH2?
ETH2 is a kind of token issued by KuCoin which corresponds to the rights of the token on ETH 2.0, along with the corresponding Staking rewards. On Pool-X, when users participate in ETH 2.0 by exchanging the ETH, they will receive an equal amount of ETH2 in return. By holding ETH2 in the specific accounts (Main account, Trading account or Pool-X account), users can get ETH2 staking rewards and POL mining rewards.
2. How does Pool-X provide liquidity for ETH2.0?
In the early stages of ETH 2.0, participants could not explicitly withdraw or cash out, which discouraged many users. The ETH 2.0 product on Pool-X issues the ETH2 token, and the ETH2/ETH trading pair will be supported, which allows users to trade freely, providing solutions for the lack of liquidity on ETH 2.0.
3. How long can users exchange ETH2 to the tokens on ETH2.0?
Only after the ETH 2.0 upgrade is carried out to phase 1.5 and the transfer services become available will Pool-X offer users the ability to exchange ETH2 into the equivalent tokens on ETH 2.0 at a ratio of 1:1. Pool-X does not provide any guarantee as to how long it will take until ETH 2.0 enters the phase 1.5.
4. What are the rewards for participating in ETH2.0 on Pool-X?
For users who participate in ETH 2.0 through the Pool-X platform, Pool-X will issue corresponding benefits based on the number of ETH2 held by the user after deducting the node server costs. The rewards will be calculated daily and will be distributed to the respective Pool-X accounts on T+1 day.
5. What are the possible risks and losses of participating in ETH2.0?
Participating in ETH 2.0, due to slash events and server or network instability, may lead to lower rewards than expected. If ETH 2.0 progress does not work out as expected, it may also affect the opportunity cost of users.
6. What is the minimum amount to exchange?
The minimum amount to exchange: 0.01ETH with a fixed exchange rate of 1:1.
7. Can ETH be redeemed after exchange?
Please note that the exchange of ETH to ETH2 is a one-way behavior, you are able to trade freely on KuCoin through the ETH2/ETH trading pair for liquidity.
8. When will the ETH2/ETH trading pair is available?
18:00 on December 2, 2020 (UTC+8)
9. What is the APR?
APR: 5%-20%, which will be distributed based on on-chain rewards. The final rewards are subject to the actual receipt.
10. How are the rewards distributed?
Users will get ETH2 Staking rewards and POL mining rewards by holding ETH2 assets in the Main account, Trading account, or Pool-X account. The rewards are settled daily and will be distributed to the user's Pool-X account on a monthly basis, you can check the profit details at the activity page.