Mining Pool Poolin to Resume Withdrawals

Crypto mining pool Poolin has just announced it intends to issue tokens to solve the withdrawal problem in the face of liquidity shortage.

The company’s founder and CEO Kevin Pan acknowledged in early September the company was in financial trouble and promised to soon present a plan to resolve the situation.

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As part of the decision, the platform will issue six types of tokens based on Ethereum’s ERC-20 standard: IOUBTC, IOUETH, IOUUSDT, IOULTC, IOUZEC and IOUDoge.

Poolin will credit users with IOU tokens according to the snapshot of accounts, replacing cryptos with these in both the wallet service and the mining pool.

The distribution will take place tomorrow, September 15.