LayerZero (ZRO) is set to launch on Bitget's PoolX platform. LayerZero is an omnichain interoperability protocol designed for lightweight cross-chain message passing. It enables direct, trustless communication between different blockchain networks through a configurable, decentralized mechanism. Often described as the "blockchain of blockchains," it allows for guaranteed and authenticated data transfer across multiple chains.
PoolX is Bitget's newly introduced staking and farming platform. Users can stake specified cryptocurrencies to earn rewards in popular tokens. Each PoolX campaign features one or more staking pools, distributing tokens hourly based on each user's proportional stake.
Staking Pool Details
The ZRO staking pool offers a total of 25,983 ZRO in rewards, with a staking cap set at 129,915 ZRO.
Reward Distribution Mechanism
Rewards are calculated using the following formula:
ZRO Farming Rewards = (Your Staked ZRO Amount ÷ Total Staked ZRO by All Eligible Users) × Total Reward Pool Tokens
This ensures a fair and proportional distribution of earnings based on individual contributions.
Farming Schedule
The staking period runs from June 21, 18:00 to July 1, 18:00 (UTC+8).
Key Guidelines
- Rewards are distributed hourly based on the participant's staked amount.
- Bitget takes hourly snapshots of each user's staked balance to determine individual shares and calculate rewards.
Rewards are issued every hour. For example:
- If you stake at 10:46 AM, your stake is confirmed at 11:00 AM, and rewards are distributed at 12:00 PM.
- Users who stake before the PoolX begins will have their stakes counted from the first hour, with rewards distributed from the second hour.
- The Annual Percentage Rate (APR) for each pool is calculated separately.
- Participants can unstake their tokens at any time.
- Once the farming period ends, all staked assets are automatically returned to the user's spot account.
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Terms and Conditions
- Participants must complete identity verification to join the event.
- All users must comply with Bitget's terms and conditions.
- Sub-accounts, institutional users, and market makers are not eligible to participate.
- Bitget reserves the right to disqualify any user engaging in fraudulent activities, using multiple accounts, or violating rules, and may confiscate rewards.
- Bitget may modify, revise, or cancel the event at its discretion without prior notice.
- Bitget holds final interpretation rights for this event. For inquiries, please contact customer support.
Disclaimer
While cryptocurrencies offer significant growth potential, they also carry substantial market risks and volatility. Users are strongly advised to conduct their own research and invest at their own risk.
Frequently Asked Questions
What is LayerZero (ZRO)?
LayerZero is an omnichain interoperability protocol that enables secure and trustless messaging between different blockchains. It acts as a foundational layer, allowing networks to communicate directly and reliably.
How are staking rewards calculated on PoolX?
Rewards are calculated hourly based on your proportional stake in the pool. The system uses a snapshot of your staked amount to determine your share of the total rewards for that hour.
Can I unstake my tokens before the farming period ends?
Yes, you can unstake your tokens at any time. There are no locking periods, providing flexibility for users to manage their assets.
Who is eligible to participate in PoolX staking?
Only verified individual users are eligible. Sub-accounts, institutional traders, and market makers are excluded from participation.
What happens if the staking pool reaches its cap?
Once the total staked amount reaches the pool's cap, no additional stakes are accepted. Rewards are distributed only among those who staked before the cap was reached.
How can I stay updated on future PoolX launches?
For the latest updates on new staking pools and cryptocurrency opportunities, 👉 check the latest crypto strategies. Always ensure you are using official and secure platforms for your investments.