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On 15th April, KuCoin announced that its Soft Staking Program is moving to a dedicated staking platform known as Pool-X.
Pool-X is a next-generation PoS mining pool that was launched in August 2019 as an independent KuCoin subsidiary. The platform offers a variety of services including but not limited to liquidity trading market, node integration, and operational solutions to build a passive income.
KuCoin’s Soft Staking transition to Pool-X will benefit users with a wider range of staking services and functionality, such as a revenue overview and statistical analysis. Through the platform, it is also possible to increase the annualized staking revenue by as much as 1.3x.
With Pool-X it is possible to participate in different types of staking. So what’s the difference you may ask?
Pool-X Staking vs Soft Staking: What’s the difference?
There are various types of staking on Pool-X. In this section, we will explain the difference between Staking and Soft Staking.
Selection of stakable assets
The Soft Staking Program has a significantly wider choice of tokens to choose from. At the time of writing, there were 24 Soft Staking assets available for staking. In contrast, there were 7 Flexible stakable assets available to users and 4 higher-return Fixed staking assets that were coming soon to the platform.
Visit CoinMarketExpert’s staking page to find and compare the best staking rewards offered by various coins and their providers.
Flexible and Fixed Staking?
With the flexible staking option, you may leave your assets staked for as long as the product is still available and you may also unstake your assets at any time. With the fixed staking option your assets are locked up for a certain period of time – so take note of the redemptions.
Now here’s the thing you need to be aware of with Redemption Periods and Dates.
When you are participating in flexible staking, a ‘redemption date’ of 3 days, for example, means that you will regain your staking asset investment 3 days after you choose to redeem it. With fixed staking, the ‘redemption periods’ are typically 30, 60 or 90 days. This simply means your staking investment will be locked up for 30, 60, or 90 days before you automatically regain it into your account.
If you are Soft Staking on Pool-X you will only receive the staking rewards. On the other hand, you will receive the staking reward plus POL when participating in the flexible and fixed staking options.
POL is the TRC20 TRON-based token that plays a central role in the native Pool-X ecosystem.
Fixed staking assets carry a higher estimated annualized staking yield (much higher than soft staking and flexible staking) although it’s very much on a first-come-first-serve basis.
Let’s take a generic example that is applicable to all staking assets (except Soft Staking). If you are staking (flexible or fixed) Cosmos (ATOM) tokens on Pool-X, you will receive both ATOM staking rewards + POL.
The ATOM staking rewards will be distributed to your account daily. With regards to your POL reward, you will receive 20% of your total POL reward daily, and the remaining 80% of your POL reward will be distributed to your account 6 months later!
Pool-X Staking Fees
Staking (flexible and fixed) and Soft Staking are currently free of charge.
Summary: Pool-X Staking vs Soft Staking
|Soft Staking||Flexible Staking||Fixed Staking|
|Max Staking Reward*||13.10%||10.00%||25.00%|
|Reward Frequency||Daily (usually)||Daily (usually)||Daily (usually)|
|Lock-up Period||No (you receive the staked investment the next day)||Yes (check the "redemption periods")||Yes (check the "redemption date")|
* This is the maximum staking reward as at the time of writing. The maximum staking reward could change without notice. Check our staking page for updates.
** 20% of the total POL reward that you are eligible for is distributed daily and the remaining 80% is distributed 6 months later.
*** You need to hold a minimum number of coins to be eligible for the rewards.
CoinMarketExpert’s staking page allows you to compare the best staking rewards offered by various coins and their providers.