A Joint Success: Phala (PHA) Marks Another Milestone with KuCoin
On February 25, Phala network and its token (PHA) pronounced another achievement as it gets listed on one of the biggest exchanges in the trading world now. Everyone was hoping for another high peak price of the chip after being listed on KuCoin.
PHA is considered one of the undervalued tokens that users must have before it gets too late.
Phala Network is a cloud-based service that preserves privacy, delivers computing power comparable to existing cloud services, and protects the confidentiality of managed programs. It is the first confidential smart contract network built on Substrate. Basically, it holds a large commitment on data services for users and enterprises.
To explain further, the network uses TEE (Trusted Environment Execution) as a technology, which allows confidential data to run in an isolated and private environment and outputs alone with authorization.
Withal, PHA is the native utility token of the platform which has numerous features to offer. According directly from their whitepaper, PHA can be used to purchase trusted computing resources in the network and the data exchanges. Also, it provides a contract-based data exchange infrastructure for standardized data collection, analysis, and trading protocols. With Phala’s protocol, a confidential but trusted exchange ecosystem which gives assurance for both buyers and sellers.
In addition, Gatekeepers must stake a certain amount of PHA tokens, which may be slashed for misbehavior. Most importantly, stakeholders who own a certain amount of PHA are able to join the Phala DAO to participate in community governance. Some might say it has no difference with other tokens mainly molded for security.
Thus, it offers a lot on the table. This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality, which mainly means Phala Network’s distributed computing cloud is versatile and confidential. Phala ensures processing power is highly scalable. It creates a powerful, secured, and scalable trustless computing cloud.
As it continues to dominate the trading world, Phala has teamed up with KuCoin for a listing campaign. According to KuCoin’s official announcement, it is their way to celebrate and give away a reward pool of 50,000 PHA to qualified KuCoin users.
They have prepared three fun activities and the campaign will run from March 2, until March 9, 2021 (UTC).
The first activity is titled, “Deposit PHA to KuCoin to Win a Share of 20,000 PHA!” It is as easy as 1, 2, 3! The top 20 accounts with the highest net deposit volume (deposits — withdrawals) will win a share of 15,000 PHA.
There is a big advantage on the part of long time users while newcomers should rush their investment to keep up from the other participants.
The bright side there is that, there will be a participation reward waiting for the first 200 users who have net deposit volume (deposits — withdrawals) that reaches 300 PHA on KuCoin and will evenly split a 5,000 PHA prize pool (25 PHA each). Although, the time frame of the activity is a bit longer just to filter the first 200 users.
Another activity is the, “Net Buying Competition, Enjoy a 20,000 PHA Prize Pool!” Wherein, the top 20 accounts with the highest net buying volume (buys — sells- withdrawals) of PHA on KuCoin will win a share of 20,000 PHA. Both networks are literally throwing away PHA for their most loved users.
But there’s more!
The last activity is a Triple Participation Reward. Participants can get the chance to Win a Share of 10,000 PHA Prize Pool in total. The guidelines are:
- Users who have the PHA net buying volume (buys — sells- withdrawals) of 100 PHA or more on KuCoin will evenly split a 2,000 PHA prize pool.
- Users who have the PHA net buying volume (buys — sells- withdrawals) of 200 PHA or more and pass KYC2 on KuCoin will evenly split a 3,000 PHA prize pool.
- Users who have the PHA net buying volume (buys — sells- withdrawals) of 300 PHA or more and pass KYC2 on KuCoin will evenly split a 5,000 PHA prize pool.
Anyone can enjoy the said event. However, there are several reminders directly from the exchange platform. The Sub-Accounts and Master Account will be treated as the same account when participating in the PHA activity. Also, Top 20 users of the Activity 1 & 2 will not be eligible to receive the participation reward (Activity 3), so everyone can have a chance to be the lucky winner.
These activities only prove that being a solid user of one token could be an edge for chances like this. Those who have the highest net buying volume can easily grab a bet! On the other side of the coin, it will surely be a struggle for the beginners despite the eagerness to win.
I just hope that they can lower the minimum net buying volume so more users can participate. Nonetheless, best of luck and enjoy co-traders!
Visit the site to see full details.
