Announcement of LBank Launches Internal Liquidity Mining Event for ANT and BUIDL

LBank Exchange
2 min readJul 30, 2020

Dear LBank Users:

LBank will be launching ANT /USDT trading pair and BUIDL/USDT trading pair at 18:30 UTC+8 on July 30th. To celebrate this listing event, LBank is launching an internal liquidity mining promotion for ANT and BUIDL. The reward prize is ANT token.

Pending order mining rewards

Time: 31st of July 16:00 to 7th of August 16:00 (UTC+8)

Promotion trading pairs: ANT/USDT、BUIDL/USDT

LBank takes a snapshot of the ANT/USDT and BUIDL/USDT trading pairs every 5 minutes, records the amount of pending orders for the top 10 buy orders and the top 10 sell orders, then calculates the return, and distribute ANT as rewards on the next day. The daily mining reward for each trading pair is 200ANT.

Mining reward calculation: The reward coefficient of buying order return is calculated by the amount of the pending order, the weight of the pending order and the time frame, and the selling order return is uniformly calculated with the first sell order price as the calculation price, the weight of the pending order and the time frame to calculate the reward coefficient.

* Reward of the day = amount of pending order * weight of pending order * time frame of pending order / total reward coefficient for the top ten orders *200 ANT

Example: A buys ANT on a first pending buy order, and the value of the pending order is 10,000 USDT. If the pending order remains untraded for one day, then he could obtain the rewards as in (10000*1)/the total coefficient of the first 10 pending orders *200 ANT. B sells 100 BUIDL tokens on 10th pending orders, the pending price for it is 100 USDT, and the first sell order price is 2 USDT since the reward coefficient is based on the selling price. B could obtain rewards if it remains untraded, and the reward is calculated as (100*2) *0.1)/Total coefficient of the top 10 pending orders *200 ANT.

⚡️ Follow LBank on Social Media ⚡️