Introduction
Every blockchain project has an identity digital asset that has a monetary value and purchasing power. In the blockchain space, the Bitcoin has the highest value and most businesses and individuals adopt the asset for various purposes. The Poolz platform created its token, POZ. This digital asset serves as an incentive to its users and possesses certain utilization ways.
The POZ digital asset has several use-cases within the Poolz ecosystem, they include:
Additional benefits:
Users can use their POZ coins to access extra benefits on the platform. These advantages only apply to POZ coin holders and not all users on the Poolz network. A typical example of an added benefit for users with POZ digital assets is that they receive higher swap ratios for all the pools running on the Poolz platform.
Policy-making and Governing Purposes:
This is an integral aspect of decentralized finance projects. The governance model is a crucial way to enact and implement policies and regulations that oversees the operations and processes of the project. This responsibility falls on all members of the Poolz community will possess the POZ. The Poolz platform adopts the proficient Proof of Stake (PoS) consensus mechanism, which facilitates a decentralized system of governance. For policy and decision-making, only members of the community who are POZ holders are eligible to exercise their voting rights. The procedure for voting involves the staking of POZ coins in supported wallets, which are compatible with the digital asset. The governance procedure also entails a limited period for the staking of the tokens, and the basis of the determination of this time is on the platform’s launch.
Staking:
Another important use of the POZ is in the case of staking and this case is highly beneficial to POZ holders who will receive rewards for staking their digital assets. Users will stake their tokens do not have to perform any other responsibilities to gain rewards. They will be able to earn passive income annually from the POZ coins they stake on the Poolz platform. For POZ holders to be eligible to receive the rewards, they must ensure to stake their digital assets in a specific ERC20 wallet compatible with POZ.
Burning of Token:
This use case of a digital asset is peculiar to the Poolz network and not common to most blockchain projects. This is a considered action by most token creators to destroy a specific amount of the total amount of coins in circulation. The Poolz team and advisors engage in this practice for particular reasons; one prominent reason is to cause the occurrence of deflation of the digital asset. A token burn is common with new blockchain projects and hardly occurs with popular digital assets such as Ethereum and Bitcoin. A top value burn policy that governs the token burn of the Poolz network and the platform utilizes about 16.67% of its daily earnings to market or purchase POZ for the token burning. Poolz platform, in its use of POZ coins to burn, does not exceed a maximum of 20% of all the total supply of POZ in circulation.
USEFUL LINKS
Website: https://poolzdefi.com/
Lightpaper: https://docs.poolzdefi.com/whitepaper/litepaper
Whitepaper: https://docs.poolzdefi.com/whitepaper/whitepaper
Telegram: https://t.me/PoolzOfficialCommunity
Twitter: https://twitter.com/Poolz__
Discord: https://discord.gg/RgPjgUY
Medium: https://medium.com/@Poolz
AUTHOR'S DETAILS
Bitcointalk Username: Pullorient
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2767518
Proof of Authentication: https://bitcointalk.org/index.php?topic=5280470.msg55341299#msg55341299
Eth Address: 0xe5606BEeB683e1A627359efAC745b7391752d8aC