Poloniex lists Grin and pledges 25-50% of tx fees to the Grin General Fund

14 Feb, 2019 | Updated: 14 Feb, 2019
by Will Heasman
Poloniex lists Grin and pledges 25-50% of tx fees to the Grin General Fund

In an announcement made today, the notable crypto exchange, Poloniex relayed the listing of Mimblewimble integrated cryptocurrency, Grin; pledging to donate 25-50% of transaction fees toward the Grin General Fund. 

Within the announcement, the Poloniex team explained the terms of the tx fee donation:

Poloniex & Circle will contribute:

- 50% of all fees for the first month

- 25% of all fees for the next 11 months

The exchange further explains the reason behind the donation to Grins General Fund elaborating that since the project had no ICO, there is no steady source of income for the developers of the project, who are nearly volunteers. Due to this, Grun relies on donations to its General Fund, something Poloniex has decided to take the lead on.

Uniquely Grin.

The lack of an ICO and voluntary developers are not the only reason why Grin is so unique, the project, which was launched anonymously in 2016 runs a privacy protocol known as MimbleWimble, this protocol – also anonymously published, back in 2013 – is a solution for scaling and privacy, it makes Grin unique because the protocol allows Grin to transact without the use of public addresses.

This poses a distinctive problem for Poloniex, as the exchange (like most exchanges) uses public addresses as a means of transacting. However, the team has come up with a few “novel solutions”:

- Method 1 — URL-based: URL-based deposits reduce Grin deposits into a single step and will appeal to users seeking a simplified experience. It will also be useful for those depositing Grin from a mining pool or other exchange.

- Method 2 — File-based: File based deposits involve Poloniex and the customer passing a unique file back and forth before broadcasting the transaction to the Grin network. This method is best suited for advanced users and for those who want to use Poloniex as their Grin wallet for peer-to-peer transactions.

Deposits for Grin are currently live, but withdrawals are said to be due “in the coming weeks.”

Read more: Litecoin jumps into 4th place after 10% pump, following MimbleWimble news

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Do you trade in Poloniex?

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poloniex ha what is dead will never die
15 Feb, 2019 - 00:06
hah very funny :D
but poloniex team still tries to make it live. impossible
15 Feb, 2019 - 10:47
Poloniex makes more and more things but nothing helps it to attract users.
Poloniex, it is your own fault!
15 Feb, 2019 - 12:12
It is a pity that exchanges die so fast. some time ago poloniex was good one but not now...
17 Feb, 2019 - 08:07
why has poloniex chosen Grin? so stupid
15 Feb, 2019 - 15:53
poloniex has chosen grin to pump it. don't you know?
25 Feb, 2019 - 07:36
because it can easily manipulate it. just poloniex, just scam.
28 Feb, 2019 - 08:17
oh, probably poloniex pledges our frozen money ...shit
17 Feb, 2019 - 21:35
I feel the number of frozen accounts on poloniex will increase harshly now)))
18 Feb, 2019 - 19:15
who did ask Poloniex add Grin??
18 Feb, 2019 - 20:47
omg Poloniex only knows how to list shitcoins
19 Feb, 2019 - 20:36
The circle will pull poloniex into the swamp ... what are they doing ??!
19 Feb, 2019 - 21:27
seems like GRIN might be just another unsecured crap that poloniex is using for making money with the help of insider trading stuff like that
20 Feb, 2019 - 19:40
poloniex is known for doing such kind of insider trading and i would not be surprised if this is their another attempt to do some fraud
09 Mar, 2019 - 10:02
Does poloniex have good position on the crypto market now to make such big donations?)
20 Feb, 2019 - 20:14
Poloniex was silent after the frozen accounts.
After all it listed grin and manipulated with it. Do you feel it ok?
21 Feb, 2019 - 11:54
yeah, poloniex team feels ok with it but users not.
how to cope - who knows?..
28 Feb, 2019 - 07:38
Poloniex has listed the most awful coin to prove its bad taste
22 Feb, 2019 - 20:05
no real activity and no reliable coins from poloniex
22 Feb, 2019 - 22:59
what is grin? the next shitcoin or what is that? ) poloniex works in its own style and will not get better )
22 Feb, 2019 - 23:55
Poloniex current presence at the market has become ridiculous and senseless.
23 Feb, 2019 - 00:15
i think it doesn't present on the market, its a ghost
18 Mar, 2019 - 20:50
nonono, poloniex,is is not ok to list shit and than manipulate it. you make users go out of your exchange
23 Feb, 2019 - 03:53
I do agree with you. Poloniex did the strange thing which looks fraud. after frozen accounts and so on it is strange very
23 Feb, 2019 - 04:42
after the last news about manipulations, frozen accounts and so on no one will stay with poloniex
23 Feb, 2019 - 05:40
Just look on voting what % of users trade on poloniex. Only 6 % !!!
Cryptocommunity doesn't believe Poloniex.
23 Feb, 2019 - 06:39
Ohh this is strange. Seems like poloniex tries to push the boat out and with this cooperation with Grin which hides your identity while you are making any transactions. Also if it hides the identity doesn't it mean that now frauds and stealing will be much more often? What is Grin and what do we know about them. Very suspicious
23 Feb, 2019 - 11:48
to add a coin which is aimed to hide your id while any transactions... Poloniex is dying as a platform and the just try to catch the hype and stay the course. However it is very suspicious because it can means that it will be easier to commit a fraud or cheating to steal money as your id is hidden
23 Feb, 2019 - 12:57
poloniex had lost a trust of market a long time ago. the adding of some little know coin absolutely will not help it to restore the reputation
24 Feb, 2019 - 18:50
poloniex used to list only sh.tcoin because i've not heard any info about grin
25 Feb, 2019 - 23:14
serious investors stay out of Grin
26 Feb, 2019 - 10:01
it;s really difficult to say at least something positive about poloniex.. it's hopeless
27 Feb, 2019 - 20:19
just admit your incompetence and set us free from your fraud Poloniex – that’s all we want from you

18 Mar, 2019 - 00:57
cant tolerate Poloniex indifference – just will quit the platform and hope that I will never hear about it in the future
18 Mar, 2019 - 01:03
there wasnt 1 case of Poloniex maintenance done properly, its always ruined by smth
21 Mar, 2019 - 11:24
I think that Poloniex end is coming already – the last maintenance showed us that their days are gone
21 Mar, 2019 - 11:42
this farce cant go on so Poloniex must close or the mob will eventually show them the error of their ways...
22 Mar, 2019 - 18:11
you will never be able to be back at the market with normal platforms Poloniex – so just keep calm and go away
25 Mar, 2019 - 21:16
I don’t want to tolerate all these confiramtions and other stuff – get off me Poloniex please
25 Mar, 2019 - 22:24
if tomorrow Poloniex gets hacked you will lose everything believe me
25 Mar, 2019 - 22:39
Grin is the last coin in your career Poloniex – remember that
25 Mar, 2019 - 22:46
its time for Poloniex to give up forever, its gets outcompeted by everyone both at home and abroad
03 Apr, 2019 - 22:10
its known to everyone that Poloniex is a huge exposed fraud, lets keep spreading the info and eventually this exchange will get closed just like it should
04 Apr, 2019 - 15:34
Grin is bad even for Poloniex, why did they list it??
06 Apr, 2019 - 11:42
That’s a nice pair of rogues – Poloniex and Grin in one team, the dream of scammers
06 Apr, 2019 - 14:02
ah its a relief to know that Grin and Poloniex will go 6ft deep soon, we're too tired of scams to tolerate these nobodies around
11 Apr, 2019 - 15:48
I cant imagine Grin or Poloniex surviving till 2020, theyll vanish much faster, as their badness is just obvious even to their own users now
07 Apr, 2019 - 18:05
Poloniex and Grin are doomed, that’s for sure, have you seen what they did to the people who relied on them?
10 Apr, 2019 - 16:37
grin will be another victim of poloniex, im sure – don’t ever deal with this platofrm
10 Apr, 2019 - 16:55
that’s the best time for Poloniex to say bye bye – Grin was a really terrible decision
10 Apr, 2019 - 18:24
Poloniex only has ineptness to offer, they only do stealing all the time but actual crypto trades and business aint their speciality
11 Apr, 2019 - 18:55
Poloniex still can empty any account they want, so dont give them a chance to do that ever, alright?
11 Apr, 2019 - 19:32
I’m so conservative that I cannot decide to leave Poloniex for smb else. But it seems it’s already time.
11 Apr, 2019 - 20:23
Grin is a huge spoiler that wont let Poloniex live any longer
14 Apr, 2019 - 16:03
fraudulent Poloniex isn’t able to deal with scammy Grin ofc
14 Apr, 2019 - 23:30
Poloniex just doesnt know how to innovate, it shows in their overabundance of bugs and constant failures all around
15 Apr, 2019 - 22:13
now we know that Poloniex has problems with the right design of things in addition to all the other stuff, well thats helpful to know...
20 Apr, 2019 - 04:35
Poloniex just drew attention to their putrid platform listing one-day coins nobody is interested in
20 Apr, 2019 - 05:16

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