Poolz Finance Releases New Token POOLX with 1:1 Ratio for POOLZ Holders

03/30/2023 14:53 • Tech Trends • 92 views

On March 30, the IDO platform Poolz Finance released information about the deployment and distribution of its new token, POOLX. Before the March 15 attack, those who held the original POOLZ token will receive the new token at a 1:1 ratio, without a lockup period. The total supply of the new token POOLX will increase by 10% compared to the total supply of POOLZ, which will be launched at Poloniex, Huobi, and PancakSwap on March 30th at 23:00.

The new POOLX token for Poolz Finance will be launched at 23:00, with a total supply increase of 10% compared to POOLZ

Poolz Finance, a prominent IDO (Initial DEX Offering) platform, announced the deployment and distribution of its new token, POOLX, on March 30th.

What is POOLZ Finance?

POOLZ Finance is an IDO platform that allows projects to create and launch their tokens on decentralized exchanges (DEXs) quickly. With this platform, project owners can create their pools, define the parameters of the offering, and get funded in a matter of hours.

POOLX Token Release

According to the announcement, on March 15, the platform was subjected to a vicious hacker attack that saw the platform losing 40 million POOLZ tokens to the attackers. Following the hack, the POOLZ team implemented safety measures, including changing their contract and migrating to a new blockchain network.
After the successful migration, the team has now released the new token, POOLX, with a 1:1 ratio for POOLZ holders. The move allows those who held the original POOLZ tokens before the attack to receive the new POOLX token without any lockup period.

POOLX Token Supply

The total supply of POOLX will be increased by 10% compared to the total supply of POOLZ. Launching on Poloniex, Huobi, and PancakSwap on March 30th at 23:00.
As such, POOLZ holders will be able to enjoy the same value proposition as before due to the conversion ratio of the new token.

Conclusion

The Poolz Finance team has shown their dedication to their users with the release of the new POOLX token. As they navigate the launch and subsequent trading on different DEXs, POOLZ holders can rest assured that the platform has taken necessary measures to ensure the safety of their tokens.

FAQs

1. When was the POOLX token released?
A: The POOLX token was released on March 30th at 23:00.
2. What is the conversion ratio for POOLZ holders to receive the new POOLX token?
A: POOLZ holders will receive the new POOLX token at a 1:1 ratio.
3. Can POOLZ holders sell their new POOLX tokens immediately after they receive them?
A: Yes, POOLZ token holders can sell their new POOLX tokens on different DEXs starting on March 30th at 23:00.

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