Introduction
For every business, especially in the blockchain industry and cryptocurrency world, given updates on a particular project relative to time is important. This helps concerned entities, both internal and external, to remain updated on the latest information. Poolz DeFi network adopts the common practice and provides real-time updates on the status of the pool on its platform.
Different Status of Pool on the Network
For each pool on the Poolz DeFi platform, there is always a status that indicates the state of the pool and this helps both the investors and innovators to understand the stage of the pool at any time. The smart contract of Poolz network is programmed with algorithm codes that sends the liquidity and auctioning tokens to the receiver’s (either the innovator or investor) wallet, depending on the status of the pool.
Created: This is the first status visible to users of the Poolz platform. This indicates that the generation of a pool. For users to gain access to this pool status there must be holders of the token, POZ. This pool is exclusively accessible to only participants that own the network’s token. POZ tokens can always know when a new pool is formed and this gives them prior information about available pools and keeps them ahead of non-POZ holders.
Open: Another status of pool on the Poolz network is “Open”. This status indicates that the particular pool is available to all members of the platform. Whether the user is a POZ token holder of not, this pool status is visible to all users. Investors are allowed to pull in their resources for the auctioned tokens.
Out of Stock: This status is similar to how other businesses operate and it shows that a particular commodity is no longer available. In the Poolz network, this status denotes that the predefined quantity of auctioned tokens are not available any longer. This status does not imply that the span of the pool has concluded, both mean different things. In some cases such as TLP, the tokens may be unavailable for the remaining period.
Finished: This status of the pool simply explains a case scenario where the span of the pool has elapsed but there is still some remaining balance of the auctioned tokens. Whenever the lifespan of a pool reaches the pre-set duration, this is the visible status. It is common practice that the remaining tokens after the end of the pool’s duration are sent to the innovators (PO’s) wallet, and this applies to both TLP and DSP. The “finish” pool status also implies that there will a purchase of all the tokens of investors through TLP.
Closed: This status indicates the completion of a pool. It also means that all the auctioned tokens have been successfully and appropriately sent. Regardless of the turnout of the pool, whether the tokens run out of stock, the lifespan of the pool finishes, or the pool is cancelled after creation, this status shows the end of the pool.
Visit the project links below for more information on this awesome project
Website: https://poolzdefi.com/
Lightpaper: https://docs.poolzdefi.com/whitepaper/litepaper
Telegram: https://t.me/PoolzOfficialCommunity
Medium: https://medium.com/@Poolz
Whitepaper: https://docs.poolzdefi.com/whitepaper/whitepaper
Twitter: https://twitter.com/Poolz__
Discord: https://discord.gg/RgPjgUY
AUTHOR'S DETAILS
Bitcointalk Username: Blesko
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2642410
Proof of Authentication: https://bitcointalk.org/index.php?topic=5280470.msg55341398#msg55341398
Eth Address: 0x419A0a8f9fd052c57Ff1a8638df22aaaf2Ea642d