Announcement of LBank Launches Internal Liquidity Mining Event for RPL
Dear LBank Users：
LBank will be launching RPL /USDT trading pair at 18:30 (UTC+8) on August 3. To celebrate this listing event, LBank is launching an internal liquidity mining promotion for RPL. The reward prize is ETH token.
Pending order mining rewards
Time: 18:00 August 4 to 18:00 August 11 (UTC+8)
Promotion trading pair: RPL/USDT
LBank takes a snapshot of the RPL/USDT trading pair 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 ETH as rewards on the end of the event. The daily mining reward for each trading pair is 0.5 ETH.
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 *0.5 ETH
Example: A buys RPL 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 * 0.5 ETH. B sells 100 RPL 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 * 0.5 ETH.
* The rewards will be distributed to winners’ LBank accounts within 7 working days after the end of the event.
* This activity’s final interpretation belongs to the LBank team.
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