LBank to Launch a Prize Voting to Forecast BTC Halving Price

3 min readApr 28, 2020

Dear LBank users:

As the BTC halving is approaching, LBank will start the price prediction activity for BTC halving market. Users shall vote by comparing the price of BTC at the two specified time points. The voting bonus pool includes a total budget of 5 BTC and 90% of the loser’s bet. Details are as follows:

Voting Time: From 20:00 on May 6 to 20:00 on May 13 (UTC+8)

Voting Currency: Spot LBK

Rules: Users use spot LBK to vote on whether the BTC price at 20:00 on May 13 is higher or lower than the BTC price at 20:00 on May 20 (UTC+8).

BTC Price Calculation: the BTC price used for this activity will take the arithmetic average price of BTC/USDT on LBank, Binance, OKex, Huobi, and Coinbase exchanges.

Voting Options:

the price of BTC at 20:00 on May 13 will be higher than that at 20:00 on May 20
the price of BTC at 20:00 on May 20 will be higher than that at 20:00 on May 13

Note: If the final price is equal, all the LBK used by the participating users will be automatically returned, and will share 5BTC.

Reward Distribution:

There are two rewards for voting right:

1. Share the total bonus pool of 5 BTC proportionally;

2. Share 90% of the LBK of the failing party in the prediction in proportion;

* 10% of the LBK of the losing party will be burned.

Tips: LBK locked in this vote will also be included in the snapshot position used to calculate the LBK release rate. The dynamic release rate of LBK will not be slowed down by the locked LBK in this voting.

Notes:

1. The data used to determine the basis for the forecast price will be published in the form of announcement after the completion of price calculation;

2. The voting is limited to the use of LBK spot assets of users registered in LBank, and users can vote for their own predictions, with no upper limit for each vote;

3. The LBK of the failing party will be used as a reward and destroyed, and cannot be recovered;

4. The LBK participating in the voting will be frozen during the activity and before the completion of the settlement. LBank will complete the result confirmation, reward settlement and unlock the voting LBK successively within 1 working day after 20:00 on May 20;

5. If there is any cheating or illegal behavior, we will directly cancel the relevant awards for the voters concerned.

Risk tip: if the user prediction fails, the LBK voted will be lost, please participate in the activity after fully understanding the rules!

* The LBank team reserves the right to interpret the event.

Click 「Vote Zone」to vote.