KuCoin Pool AMA — Empower Hashrate to Achieve Capital Appreciation
Dear KuCoin Users,
Time: August 27, 2021, 10:00-11:00 (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session in the KuCoin Exchange Group about its brand-new product — KuCoin Pool.
KuCoin Pool is committed to serving miners around the world, offering PoW and pool connection to bring stable and consistent earnings to miners. Currently, KuCoin Pool supports the connection of BTC and BCH hashrates.
KuCoin Pool welcomes global miners to join and enjoy the lowest mining fees in the world. KuCoin Pool is a platform built by KuCoin. It aims to serve global crypto miners who can integrate their mining rigs to the KuCoin Pool and earn continuous rewards.
Join KuCoin Pool on Telegram.
Daisy — Global Commercial Director of KuCoin Pool
Q&A from KuCoin
Q: Please introduce yourself to the KuCoin Community.
Daisy: Hi, dear KuCoin users! My name is Daisy, the Global Commercial Director of KuCoin Pool. I am so glad to be in our KuCoin community today to share the latest news about KuCoin Pool with everybody.
In the KuCoin Pool team, I am mainly responsible for developing global mining pool resources and connecting with global mining channels, including but not limited to business cooperation with mining farms, power companies, miners, etc.
If you are a miner or want to become a miner, KuCoin Pool is waiting for you to start a wonderful mining journey with us.
Q: What is KuCoin Pool, and what role does it play within the KuCoin ecosystem?
Daisy: As we all know, mining is an indispensable part of the blockchain industry as an underlying infrastructure, especially with the dominance of the PoW consensus algorithm.
As an important innovation in blockchain history, mining achieved a win-win situation for both blockchain projects and miners, with the former obtaining security and the latter getting rewards. Therefore, loads of miners joined the activities at the initial stage of blockchain development.
However, as the mining difficulty increased, the proportion of individual hashrate is largely reduced to obtain a stable income, except for the fixed costs of electricity, Internet, and equipment maintenance. Therefore, the mining pool was created to pursue a more stable income by connecting global miners to the platform to share hashrate and rewards.
KuCoin Pool is a platform built by KuCoin. It aims to serve global crypto miners who can integrate their mining rigs to the KuCoin Pool and earn continuous rewards.
Renowned as the “People’s Exchange”, KuCoin has been exploring and expanding the service boundary beyond the crypto industry to provide users a more comprehensive service layout. From initially supporting spot trading only to covering comprehensive crypto services today, including futures, margin trading, ETF, lending, and staking, KuCoin is non-stop in developing the ecosystem.
Some of you might have noticed that our current business still focuses on trading, and KuCoin Pool will be another huge step to fill in the gaps of mining services in our ecosystem, aiming to finally form a more comprehensive and in-depth financial derivative service ecosystem. Therefore, KuCoin Pool is a strategic integral to the KuCoin ecosystem.
In the future, KuCoin aims to further lower the entry threshold for new miners by introducing mining in cloud service without having to install and run the mining hardware. By doing this, all KuCoin users across the ecosystem will be able to enjoy our one-stop mining service.
Q: Facing the fierce competition in the mining market, what is KuCoin Pool’s future roadmap?
Daisy: Despite having solutions to maintain a stable income for miners, mining pools have also exposed a weakness: most pools/farms are concentrated in certain markets/countries. This is the main reason that led to the sudden fall of hashrate to a historical low level recently.
As a result, the globalized distribution of mining pools is an inevitable trend. KuCoin targets the global market and will implement a global layout of mining pools based on our resources.
Currently, KuCoin Pool is cooperating with mainstream pools around the world and seeking to further expand our partnership in Europe, Central Asia, and North America, aiming to set up more mining pools that offer lower mining fees and high-quality services.
We also plan to extend the existing service boundary further to achieve a one-stop and in-depth financial service platform by integrating the upstream and downstream services, including mining rigs, mining pools, trading, wealth management, etc.
Q: Compared to other mining pools, what are the core advantages and unique features of the KuCoin Pool?
Daisy: Well, the core advantage of KuCoin Pool is that we provide extremely low mining fees compared to other pools in the industry. KuCoin Pool only charges 2% of the mining fee, which will reduce miners’ costs to a large extent and help them gain more profit.
At the same time, we’ve optimized the mining algorithm to generate a higher mining efficiency of faster block production and higher mining rewards based on the same hashrate input.
In rigorous terms, the mining pool should also provide mining services, except for mining products. As a platform that closely connects with miners, KuCoin Pool is devoted to offering a high caliber of products and services to our users based on a solid technical infrastructure.
Therefore, we are also dedicated to providing user-friendly design to enhance the mining experience. In addition, miners can also access comprehensive mining data to check their mining profit quickly.
Furthermore, KuCoin Pool also specializes in providing one-on-one miner support to address miner inquiries. We’ll strive to further improve customized support to our users.
Q: What are the business directions of KuCoin Pool? What kind of services will be provided?
Daisy: As of now, KuCoin Pool mainly provides two types of services: PoW mining services and value-added asset services for miners.
The PoW mining service launched in the first phase of KuCoin Pool has supported cryptos, including BTC and BCH. ETH mining will be available next month and later will launch the mining service of distributed storage projects.
In the future, it will also support innovative projects with a strong community foundation and hashrate such as DGB, HNS, etc.
In addition to mining services, KuCoin Pool also provides derivatives and value-added financial services for miners. Relying on KuCoin's deep understanding of finance, KuCoin Pool provides miners with high-yield investment opportunities on the asset side. It also provides customers with professional derivative products to manage risks and increase returns for miners.
In the next stage, we will launch more financial derivatives based on the needs of miners, such as hashrate hedging, mining machine mortgage loans, mining farms, stores, mining funds, etc., and provide customized products and services based on the individual needs of miners.
Q: How does KuCoin Pool respond to the increasingly severe problem of excessive energy consumption in Bitcoin mining?
Daisy: Good question.
KuCoin Pool is the first mining pool that supports and encourages miners to use renewable energy. With its official launch, KuCoin Pool also initiated the "Support Carbon Neutrality, Enjoy Green Mining Bonus" campaign to encourage miners to use clean energy for hashrate mining.
Participants who use clean energy for mining and submit relevant information certification can enjoy a 50% discount on mining fees.
KuCoin Pool encourages more miners to use clean energy for mining, helping the sustainable development of Bitcoin and the crypto mining industry.
Q: How does KuCoin Pool ensure security?
Daisy: Yes, security and stability are undoubtedly among the most important aspects of global miners and mining pool service providers.
In order to ensure the safe and stable operation of the mining pool, the KuCoin Pool team has improved the security and stability in terms of technology, products, and risk control system.
Relying on KuCoin's strong technical support team, we have created a mining environment with lower risks and higher returns. Also, users can remotely monitor the mining pool environment under multiple early warning mechanisms.
Once abnormal conditions occur, we will give early warnings to ensure the safe and stable operation of the mining.
The entire KuCoin Pool team has been deeply involved in this field for more than 6 years and has extensive experience in operation and management. With a professional perspective and comprehensive planning, we have built the industry's top security risk control system in all aspects to ensure data security.
Q: What benefits can the connected miners enjoy on KuCoin Pool?
Daisy: KuCoin Pool has been available since August 25. In addition to providing the lowest mining fee in this industry, we also provide users with one-on-one technical services. With the launch of KuCoin Pool, we are holding a limited-time fee-discount campaign.
According to the different hashrate that miners access, we will give corresponding fee discount benefits. The earlier you connect, the higher the discount you can enjoy. Inviting friends to participate in mining can also get rewards.
We will rank according to the total hashrate of the invited friends, and the miner will have the opportunity to receive commission rebates and KCS rewards. We will also launch diversified welfare activities such as community airdrops, block rewards, and revenue rankings.
In addition, we have also set up exclusive "green channels" for VIPs such as exclusive contract trading fees, low-interest loans, exclusive technical customer services, exclusive referral rewards for VIPs, and many other surprises.
You can follow the official announcement of KuCoin Pool for benefit details.
Q: What is the next plan for KuCoin Pool?
Daisy: Mining services for more projects will be supported gradually, including the aforementioned mining services for popular projects in the Storage sector, as well as some popular community projects.
We will also launch cloud mining services in the near future. Users do not need to purchase physical mining machines but only need to purchase corresponding hashrate products to participate in mining and obtain benefits, which will greatly reduce the mining threshold for ordinary users.
Please follow our official news. We will share the latest news of KuCoin Pool with you in a timely manner through official channels.
Free-Ask from KuCoin Community
Q: What is the biggest highlight of KuCoin Pool?
Daisy: We are the mining pool with the lowest mining fee in the entire industry and are committed to providing better underlying technology and mining pool business services, one-on-one service to miners, empowering hashrate, and increasing asset value!
Q: Revenue is an important aspect for all projects to survive and maintain the project or company. What are your plans and ways to generate profit or revenue? In regard to this, please explain your income model?
Daisy: We adopt the most optimal model under the current industry: FPPS-based settlement mode for BTC and BCH mining.
Q: Which cryptocurrencies will be supported for mining when KuCoin Pool is online?
Daisy: BTC and BCH mining are now available on KuCoin Pool, and ETH will be launched next month. In the future, more high-quality cryptocurrencies will continue to be launched to meet the diverse needs of miners.
Q: Do miners need to go through a complicated configuration before accessing KuCoin Pool?
Daisy: The purpose of KuCoin Pool is to improve product experience on the basis of ensuring safety, making it more flexible and more user-friendly. It only takes a few simple steps from registration to mining. We will share the operation tutorial with users. If you have any questions during the mining process, you can contact us at any time.
Q: Do you have local communities for those who don't know English to let them better understand KuCoin Pool?
Daisy: Currently, we support English and Chinese, and we will support more languages in the future.
Q: What are your marketing strategies, and how do you plan on implementing global adoption? How do you intend on getting more users, communities, and investments from all parts of the world, including non-English speakers and communities? Any ambassador or referral program?
Daisy: We support the invitation mechanism mainly through commission rebates with different levels. I can share the details later with anyone interested in the reward mechanism.
Q: Where can I get all the latest news about KuCoin Pool? Do you have a Twitter/Telegram/Discord community? If yes, can you share the link here because there are a lot of fake Telegram/Twitter groups?
Daisy: We have established an exclusive official group for miners. After the AMA, we will post the link so that everyone can join the group for communication. We also have a professional customer service team to give a professional Q&A service.
Q: Will the cloud mining service be launched after KuCoin Pool?
Daisy: Yes, we have plans to provide a cloud mining service. Once we have a clear schedule, we will share the news with you in time, so please follow our updates.
Q: Is there anything else you would like to share or you want us to know?
Daisy: KuCoin Pool welcomes global miners to join us to enjoy the lowest mining fees in the world.
We provide one-stop mining services for miners. We also welcome mining-related partners to discuss cooperation plans with us, including mining farms, power companies, miners, etc.
Thank you, everyone.
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