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KuCoin/Pool-X Supports ETH2.0 Migration

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Dear KuCoin/Pool-X Users,

We are very pleased to announce that ETH2.0 Staking will start on December 1, 2020.

Users will get ETH2 Staking rewards and POL mining rewards by holding ETH2 assets in the Main account, Trading account or Pool-X account. Also, users will be able to trade freely on KuCoin through the ETH2/ETH trading pair for liquidity!

When the transfer services are enabled on the ETH2.0 mainnet, users will be able to exchange the ETH2 assets into the tokens on ETH2.0 at a ratio of 1:1.

Participation Ways:
Web: Deposit/transfer ETH to Pool-X account to exchange ETH-anchored ETH2 tokens at a ratio of 1:1.

App: Click “Assets” on the page and withdraw ETH to the designated address “ETH2” to obtain the ETH-anchored ETH2 tokens.

Participation Notice:

1.Starting time for rewards calculation: 20:00:00 on December 1, 2020 (UTC+8).

2.ETH2 assets are only valid on the KuCoin platform.

3. 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.

4. The rewards are settled daily and will be distributed to the user’s Pool-X account on a monthly basis.

5. Users can trade on KuCoin through the ETH2/ETH trading pair of which the price is determined by the market. After the successful transaction, the relevant rewards will be transferred accordingly.

6. Since the time that the ETH2.0 mainnet goes online and the transfer services open has not yet been determined, the exchange time of the ETH2-anchored tokens on the ETH2.0 mainnet is currently uncertain.

7. The user hereby confirms that participating in ETH2.0 on KuCoin is voluntary, and the KuCoin Group has not forced, interfered with, or influenced the user’s decision in any way.

What is ETH2.0?

ETH2.0 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 (may be subject to changes in the future).

Risk Warning: Staking is a risk investment channel. Investors should be sensible in their participation and be aware of investment risks. The KuCoin Group is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. The KuCoin Group reserves the right of final interpretation of the activity.

Thanks for your support!

The Pool-X Team

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