Friday is here, and we hope that you are all having a wonderful week!
This update is a little different from previous weekly recaps, in that we want to relay more detailed information to you all about what is being worked on behind the scenes in terms of development. Given that the Staking modules are the most imminent products to be released, they will be the focus of this segment. So let's get right to it!
When will the LP and POLX staking modules be completed?
Both modules are currently scheduled to be completed before the end of this month (February). We do not anticipate any delays, but we will keep you posted in the lead up to these modules going live.
How will the staking modules work?
From a user standpoint, they will function as follows:
Case 1: User doesn’t withdraw before the staking period ends.
•User stakes their tokens during the staking window.
•User will accumulate rewards for the staked tokens linearly until the staking period ends.
•User will withdraw all the staked tokens and the accumulated reward tokens with the staking period ends.
Case 2: User withdraws all their tokens before the staking period ends.
•User stakes their tokens during the staking window.
•User will accumulate rewards for the staked tokens linearly until the staking period ends.
•When the user tries to withdraw their staked tokens (along with the rewards earned) before the staking period ends, all of their tokens will be placed on a hold for 7 days. During the 7 day hold, the user will not accumulate any more rewards. During the release, there will be a 25% reduction from the rewards earned. In the end, the user will receive their staked tokens + 75% of the earned rewards.
Case 3: User withdraws a partial amount of tokens from their total staked amount.
•User stakes their tokens during the staking window.
•User will accumulate rewards for the staked tokens linearly until the staking period ends.
•When the user tries to withdraw (x) amount of tokens from their total staked tokens (y) where (x < y), (x) amount of tokens will be on hold for the next 7 days. Let’s assume (z) is the rewards accumulated until this point. The withdrawing amount (x) will not accumulate any rewards during the 7 day hold, but the remaining amount (y - x) will be accumulating rewards. After 7 days, the user will receive (x) amount of tokens + 75% of the rewards gained until the withdraw request i.e., (z)
•The user can withdraw the remaining tokens (y-x) and the rewards accumulated for (y-x) after the partial withdraw request when the staking period ends.
So, are there 'penalties' for unstaking early?
To be clear, there are absolutely no penalties when it comes to your staked tokens. You will always receive them back in full. Only your rewards will be subject to any reduction should you decide to unstake early, as explained above. This is done to encourage staking for the whole duration of the staking period, which in turn helps contribute to the overall health of the network.
Lastly, we know there is a lot of curiousity around the state of development in regards to our keystone products, the indexes. Despite some delays to this point, everything is going well and we are excited about where development stands.
Much like we highlight the staking portal functions in this segment, we will be releasing a more detailed breakdown about how the index will work in an upcoming segment.
As always, thank you all for being the heart of Polylastic and supporting this project throughout. We are confident that 2022 will be an amazing year.
This update is a little different from previous weekly recaps, in that we want to relay more detailed information to you all about what is being worked on behind the scenes in terms of development. Given that the Staking modules are the most imminent products to be released, they will be the focus of this segment. So let's get right to it!
When will the LP and POLX staking modules be completed?
Both modules are currently scheduled to be completed before the end of this month (February). We do not anticipate any delays, but we will keep you posted in the lead up to these modules going live.
How will the staking modules work?
From a user standpoint, they will function as follows:
Case 1: User doesn’t withdraw before the staking period ends.
•User stakes their tokens during the staking window.
•User will accumulate rewards for the staked tokens linearly until the staking period ends.
•User will withdraw all the staked tokens and the accumulated reward tokens with the staking period ends.
Case 2: User withdraws all their tokens before the staking period ends.
•User stakes their tokens during the staking window.
•User will accumulate rewards for the staked tokens linearly until the staking period ends.
•When the user tries to withdraw their staked tokens (along with the rewards earned) before the staking period ends, all of their tokens will be placed on a hold for 7 days. During the 7 day hold, the user will not accumulate any more rewards. During the release, there will be a 25% reduction from the rewards earned. In the end, the user will receive their staked tokens + 75% of the earned rewards.
Case 3: User withdraws a partial amount of tokens from their total staked amount.
•User stakes their tokens during the staking window.
•User will accumulate rewards for the staked tokens linearly until the staking period ends.
•When the user tries to withdraw (x) amount of tokens from their total staked tokens (y) where (x < y), (x) amount of tokens will be on hold for the next 7 days. Let’s assume (z) is the rewards accumulated until this point. The withdrawing amount (x) will not accumulate any rewards during the 7 day hold, but the remaining amount (y - x) will be accumulating rewards. After 7 days, the user will receive (x) amount of tokens + 75% of the rewards gained until the withdraw request i.e., (z)
•The user can withdraw the remaining tokens (y-x) and the rewards accumulated for (y-x) after the partial withdraw request when the staking period ends.
So, are there 'penalties' for unstaking early?
To be clear, there are absolutely no penalties when it comes to your staked tokens. You will always receive them back in full. Only your rewards will be subject to any reduction should you decide to unstake early, as explained above. This is done to encourage staking for the whole duration of the staking period, which in turn helps contribute to the overall health of the network.
Lastly, we know there is a lot of curiousity around the state of development in regards to our keystone products, the indexes. Despite some delays to this point, everything is going well and we are excited about where development stands.
Much like we highlight the staking portal functions in this segment, we will be releasing a more detailed breakdown about how the index will work in an upcoming segment.
As always, thank you all for being the heart of Polylastic and supporting this project throughout. We are confident that 2022 will be an amazing year.
Polylastic Announcements pinned «Friday is here, and we hope that you are all having a wonderful week! This update is a little different from previous weekly recaps, in that we want to relay more detailed information to you all about what is being worked on behind the scenes in terms of…»
Another Friday, another busy week in the Polylastic lab! We hope everyone is doing well and staying healthy. We'd like to briefly share with you all some of the things we have been up to and offer some insight into new developments. Some of thing we'd like to share, include:
•Eyes On The Future! As development of the index remains underway, the market continues to change. Cryptocurrency as a whole continues to evolve. It is important that when the indices do release, they are designed to perform well with consideration given to the state of the market at that future date. Anticipating what the market may look like in the near future, is no easy task in this space. With that said, there are some strong sentiments around specific areas of development.
At Polylastic, we are prepared to stay a step ahead and remain forward thinking. To that point, we have been looking into adding more index baskets that we believe will be very attractive in future markets. Some of these categories may include ZK Rollups, Metaverse, and AI technology. While we don't want to give away too much just yet, we are excited about what offerings we have in store.
•Kucoin Update! We want to acknowledge that the current trading experience on Kucoin has been less than ideal. However, we want you to know that this is something that they are aware of and actively working to get sorted out. The V3 POLX contract should be implemented on their platform shortly.
Because of the Lunar New Year and many other requests from various projects, it has taken a little longer than we all had hoped. But please rest assured that they are making this a priority and have expressed to us that they will do what they can to get this issue bumped to the front of the line and resolve this once and for all.
•Community to-dos! As we mention in every Friday recap, community involvement is a big part of what helps support the Polylastic ecosystem. Some simple action steps that we ask everyone to participate in, include:
Liking, sharing and creating awareness around all social media platforms:
Website| Twitter| Reddit| Discord| Telegram| Medium| Facebook| Instagram|
As always, thank you all for your support. Enjoy the weekend and stay tuned!
•Eyes On The Future! As development of the index remains underway, the market continues to change. Cryptocurrency as a whole continues to evolve. It is important that when the indices do release, they are designed to perform well with consideration given to the state of the market at that future date. Anticipating what the market may look like in the near future, is no easy task in this space. With that said, there are some strong sentiments around specific areas of development.
At Polylastic, we are prepared to stay a step ahead and remain forward thinking. To that point, we have been looking into adding more index baskets that we believe will be very attractive in future markets. Some of these categories may include ZK Rollups, Metaverse, and AI technology. While we don't want to give away too much just yet, we are excited about what offerings we have in store.
•Kucoin Update! We want to acknowledge that the current trading experience on Kucoin has been less than ideal. However, we want you to know that this is something that they are aware of and actively working to get sorted out. The V3 POLX contract should be implemented on their platform shortly.
Because of the Lunar New Year and many other requests from various projects, it has taken a little longer than we all had hoped. But please rest assured that they are making this a priority and have expressed to us that they will do what they can to get this issue bumped to the front of the line and resolve this once and for all.
•Community to-dos! As we mention in every Friday recap, community involvement is a big part of what helps support the Polylastic ecosystem. Some simple action steps that we ask everyone to participate in, include:
Liking, sharing and creating awareness around all social media platforms:
Website| Twitter| Reddit| Discord| Telegram| Medium| Facebook| Instagram|
As always, thank you all for your support. Enjoy the weekend and stay tuned!
Polylastic Announcements pinned «Another Friday, another busy week in the Polylastic lab! We hope everyone is doing well and staying healthy. We'd like to briefly share with you all some of the things we have been up to and offer some insight into new developments. Some of thing we'd like…»
📢 Friday has arrived once again, and we hope everyone is feeling great as we head into the weekend. It's time for the weekly recap, and much like the month of February, we'll keep it short! Items for this weeks roundup include:
•Kucoin Update! We know updates regarding Kucoins support of the V3 token and associated withdrawls and deposits may seem unceasing, but this is one comes with good news!! Kucoin has successfully integrated the V3 token and will be opening up very shortly! In the meantime, stay tuned for an announcement of when you may resume deposits and withdrawals on Kucoin.
•Staking is Near! This is another item that has long been anticipated, and we are in that final stretch before the staking modules roll out. We are running the final security and functionality tests and everything is looking great and we remain on schedule. Once complete, we will release a medium article detailing the features and terms of the modules and how to stake and unstake. More to come!
•Community to-dos! The Polylastic team expands far beyond the directors and advisors. Everyone reading this is part of the greater Polylastic team. If every individual does their small part in supporting this project, there is no stopping us. So please be sure to participate in the following activities:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
As always, thank you all for making this community so great. You are all appreciated.
•Kucoin Update! We know updates regarding Kucoins support of the V3 token and associated withdrawls and deposits may seem unceasing, but this is one comes with good news!! Kucoin has successfully integrated the V3 token and will be opening up very shortly! In the meantime, stay tuned for an announcement of when you may resume deposits and withdrawals on Kucoin.
•Staking is Near! This is another item that has long been anticipated, and we are in that final stretch before the staking modules roll out. We are running the final security and functionality tests and everything is looking great and we remain on schedule. Once complete, we will release a medium article detailing the features and terms of the modules and how to stake and unstake. More to come!
•Community to-dos! The Polylastic team expands far beyond the directors and advisors. Everyone reading this is part of the greater Polylastic team. If every individual does their small part in supporting this project, there is no stopping us. So please be sure to participate in the following activities:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
As always, thank you all for making this community so great. You are all appreciated.
Polylastic Announcements pinned «📢 Friday has arrived once again, and we hope everyone is feeling great as we head into the weekend. It's time for the weekly recap, and much like the month of February, we'll keep it short! Items for this weeks roundup include: •Kucoin Update! We know updates…»
📢 It's the last Friday of the month and we'd like to offer a quick rundown of what we've been working on behind the scenes. But first and foremost, we'd like to send our prayers to those around the world who are affected by the recent global events. We will keep this recap brief.
•Staking Modules Almost Ready! We've been running all necessary security and functionality tests on the staking modules, and everything is looking excellent. We will be deploying them by March 1st, so keep an eye out for an update in the coming week that will include a tutorial on how to stake.
•Kucoin Promotion! In addition to Kucoin supporting the V3 POLX token very shortly, we have also worked out a promotional campaign that will launch on their platform. This is very exciting as it will allow for Polylastic to be spotlighted to a very large audience. More to come.
•Community to-dos! As always, please be sure to participate in the following activities, if you are able to do so:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
Thank you for your continued support, and please stay safe.
•Staking Modules Almost Ready! We've been running all necessary security and functionality tests on the staking modules, and everything is looking excellent. We will be deploying them by March 1st, so keep an eye out for an update in the coming week that will include a tutorial on how to stake.
•Kucoin Promotion! In addition to Kucoin supporting the V3 POLX token very shortly, we have also worked out a promotional campaign that will launch on their platform. This is very exciting as it will allow for Polylastic to be spotlighted to a very large audience. More to come.
•Community to-dos! As always, please be sure to participate in the following activities, if you are able to do so:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
Thank you for your continued support, and please stay safe.
Polylastic Announcements pinned «📢 It's the last Friday of the month and we'd like to offer a quick rundown of what we've been working on behind the scenes. But first and foremost, we'd like to send our prayers to those around the world who are affected by the recent global events. We will…»
KuCoin Token Swap of Polylastic (POLX) Completed: Deposit and Withdrawal Services Now Open
https://www.kucoin.com/news/en-kucoin-token-swap-of-polylastic-polx-completed-deposit-and-withdrawal-services-now-open-20220228
https://www.kucoin.com/news/en-kucoin-token-swap-of-polylastic-polx-completed-deposit-and-withdrawal-services-now-open-20220228
KuCoin
KuCoin Token Swap of Polylastic (POLX) Completed: Deposit and Withdrawal Services Now Open| KuCoin
Dear KuCoin Users, KuCoin has completed the token swap of Polylastic (POLX) from BEP20 to MATIC. The deposit and withdrawal services are now open. Notice: KuCoi
Polylastic Announcements pinned «KuCoin Token Swap of Polylastic (POLX) Completed: Deposit and Withdrawal Services Now Open https://www.kucoin.com/news/en-kucoin-token-swap-of-polylastic-polx-completed-deposit-and-withdrawal-services-now-open-20220228»
📢📢📢 After much anticipation, we are pleased to announce that Kucoin withdrawals and deposits are finally open! Thank you to our amazing Polylastic community for its continued support and patience as we worked towards implementing the POLX V3 token on Kucoin.
https://polylastic.medium.com/kucoin-now-supports-v3-polx-85910f78af8c
Join our community here 👇
https://linktr.ee/polylastic
https://polylastic.medium.com/kucoin-now-supports-v3-polx-85910f78af8c
Join our community here 👇
https://linktr.ee/polylastic
📢 After much anticipation, Polylastic is excited to announce that our Staking Portal is live!
Please follow the link below for details:
https://polylastic.medium.com/polylastic-staking-portal-now-live-7e155dd7dcf8
Join our community here 👇
https://linktr.ee/polylastic
Please follow the link below for details:
https://polylastic.medium.com/polylastic-staking-portal-now-live-7e155dd7dcf8
Join our community here 👇
https://linktr.ee/polylastic
📢 Friday is here yet again, and we hope everyone is doing well as we head into the weekend. It's time for the summary of this week's events. Items for this roundup include:
•V3 is Live on Kucoin! You may now transfer V3 POLX tokens to your Kucoin account from your MetaMask, Trust, or other wallet. All transactions are once again operational, including: buying, selling, withdrawing, and depositing. As previously mentioned, there are no taxes associated with the POLX token, so deposits to your Kucoin account will only incur a standard Polygon network gas fee.
•Staking is Here! You may now stake your POLX tokens and/or POLX LP tokens using our staking portal. Both will allow you to earn rewards, simply by staking your tokens. In doing so, you are aiding in sustaining the overall health of the ecosystem. It's a win-win for everyone!
•Community to-dos! As we ask every week, please be sure to participate in the following activities:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
Thank you all for your continued support and making this community so wonderful. Please stay safe and have a nice weekend.
•V3 is Live on Kucoin! You may now transfer V3 POLX tokens to your Kucoin account from your MetaMask, Trust, or other wallet. All transactions are once again operational, including: buying, selling, withdrawing, and depositing. As previously mentioned, there are no taxes associated with the POLX token, so deposits to your Kucoin account will only incur a standard Polygon network gas fee.
•Staking is Here! You may now stake your POLX tokens and/or POLX LP tokens using our staking portal. Both will allow you to earn rewards, simply by staking your tokens. In doing so, you are aiding in sustaining the overall health of the ecosystem. It's a win-win for everyone!
•Community to-dos! As we ask every week, please be sure to participate in the following activities:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
Thank you all for your continued support and making this community so wonderful. Please stay safe and have a nice weekend.
Let the burns begin! We are delighted to announce that we will be burning 500,000,000 POLX tokens (0.5% of the supply), immediately. This will be followed by a series of monthly burns. As activity grows within the Polylastic ecosystem, the burn amounts will increase! Read more on our Medium:
https://polylastic.medium.com/polx-token-burn-announcement-a5f4446b493d
Join our community here 👇
https://linktr.ee/polylastic
https://polylastic.medium.com/polx-token-burn-announcement-a5f4446b493d
Join our community here 👇
https://linktr.ee/polylastic
To celebrate the recent opening of withdrawals and deposits on Kucoin, along with the staking portal going live on the Polygon network, we are excited to announce the Polylastic trading competition on Kucoin!
To participate in the competition it is extremely important that you register to the link below.
https://www.kucoin.com/news/en-encounter-polylastic-in-the-green-season-share-250-million-polx?utm_source=POLX
For more details please read the medium article below.
https://polylastic.medium.com/polx-trading-competition-on-kucoin-45389b96526b
Join our community here 👇
https://linktr.ee/polylastic
To participate in the competition it is extremely important that you register to the link below.
https://www.kucoin.com/news/en-encounter-polylastic-in-the-green-season-share-250-million-polx?utm_source=POLX
For more details please read the medium article below.
https://polylastic.medium.com/polx-trading-competition-on-kucoin-45389b96526b
Join our community here 👇
https://linktr.ee/polylastic
📢 Polylastic hit the ground running this week, and it's hard to believe the weekend is already here! Let's get right into some of this week's happenings:
•Kucoin Trading Competition is Live! We are very excited to be highlighted on Kucoin and offer new and existing holders an opportunity to participate in this challenge. This competition presents a fun and educational way to potentially win some excellent POLX rewards. Read more on out official Medium page.
https://polylastic.medium.com/polx-trading-competition-on-kucoin-45389b96526b
•Crypto Gains YouTube Video! In a happy surprise, Crypto Gains covered Polylastic on his YouTube channel! His channel has over 80k subscribers, which is very impressive. We are grateful for the positive exposure and his support. Be sure to like the video, comment, and subscribe!
https://youtu.be/T5jNkxPXRQ0
•Community to-dos! As always, please be sure to participate in the following activities, if you are able to do so:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
Thank you for your continued support, and please stay safe.
•Kucoin Trading Competition is Live! We are very excited to be highlighted on Kucoin and offer new and existing holders an opportunity to participate in this challenge. This competition presents a fun and educational way to potentially win some excellent POLX rewards. Read more on out official Medium page.
https://polylastic.medium.com/polx-trading-competition-on-kucoin-45389b96526b
•Crypto Gains YouTube Video! In a happy surprise, Crypto Gains covered Polylastic on his YouTube channel! His channel has over 80k subscribers, which is very impressive. We are grateful for the positive exposure and his support. Be sure to like the video, comment, and subscribe!
https://youtu.be/T5jNkxPXRQ0
•Community to-dos! As always, please be sure to participate in the following activities, if you are able to do so:
Liking, sharing and creating awareness around all social media platforms:
Join our community here 👇
https://linktr.ee/polylastic
Thank you for your continued support, and please stay safe.
Medium
POLX Trading Competition on Kucoin!
Polylastic is excited to announce one of our biggest trading competitions on the Kucoin Exchange to date! This trading competition will…
Polylastic Welcomes Crypton Studio as Development Partner!
We are delighted to announce that Polylastic will be collaborating with leading blockchain development studio, Crypton Studio, as we refine and polish the Polylastic Index protocol. They add tremendous value to the advanced development of this project and will greatly compliment our in-house development team.
https://polylastic.medium.com/polylastic-brings-crypton-studio-on-board-for-advanced-index-development-c9913d63d011
Join our community here 👇
https://linktr.ee/polylastic
We are delighted to announce that Polylastic will be collaborating with leading blockchain development studio, Crypton Studio, as we refine and polish the Polylastic Index protocol. They add tremendous value to the advanced development of this project and will greatly compliment our in-house development team.
https://polylastic.medium.com/polylastic-brings-crypton-studio-on-board-for-advanced-index-development-c9913d63d011
Join our community here 👇
https://linktr.ee/polylastic