Announcement on the LBK special sale of Chia Network Hashrate (360-day product)

2 min readApr 10, 2021

Dear LBank users:

LBank will launch the sale of Chia Network hashrate at 12:00 (UTC+8) on April 14, 2021, and will end at 20:00 (UTC+8) on April 14, 2021. The rules are as follows:

Total amount: 1,000,000 USDT

Supported currency: USDT

Minimum purchase amount: 400 USDT

Maximum subscription amount: unlimited

Hashrate cost: 1 P= 40,000 USDT, no electricity fee

Settlement currency: XCH

Settlement cycle: T+1, rewards distribution will last 360 days

Operation service fee: 20% of token reward

Rewards: It is estimated that 1,400 XCHs will be produced per month (calculated based on the total network hashrate of 200P)

P-disk cycle: 70 days (linear growth)

Estimated time to start mining: at the end of April

Tip: The return is only a theoretical value, and the amplitude of price fluctuations and increase in hashrate cannot be predicted.

Participation conditions:

KYC verification
Average LBK holdings from April 5 to April 9 ≥5,000

Note: The unsold quota for the LBK special session will be used for the USDT special session, and the details are subject to official announcement .

About Chia

Chia Network develops a blockchain and smart transaction platform created by the inventor of BitTorrent, Bram Cohen. It implements the first new Nakamoto consensus algorithm since Bitcoin in 2008. Proofs of Space and Time replace energy intensive “proofs of work.”

Chia website：www.chia.net

Chia whitepaper：https://www.chia.net/2021/02/10/chia-businesss-whitepaper.html

Chia Github：https://github.com/Chia-Network/chia-blockchain/wiki

Chia official Keybase：https://keybase.io/team/chia_network.public

※ Cautions:

As the hashrate sales service platform, LBank only provides hashrate sales and hashrate output revenue distribution services.

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