LBank to Launch LBK Solar — AVAX (Avalanche) Special Sale

3 min readJul 22, 2020

Dear LBank users:

To benefit LBK community, LBank will launch AVAX (Avalanche) Special Sale on July 24, 2020 (UTC+8). This round of sale will sell AVAX with a total value of 20,000 USDT equivalent. The AVAX sold this time will come from Option B of AVAX’s official sales channel at the price of 0.85 USDT. The token will not be locked, and it will be released after the launch of the token officially.

Subscription Time: 16:00–18:00 on July 24, 2020 (UTC+8).

Subscription Supply: 23,529.4 AVAX

Subscription Token: USDT

Subscription Mode: Everyone can participate (weighted average).

Participation Condition: Users need to complete the KYC verification. LBK holdings amount ≥ 100,000 LBK.

Trading Open: AVAX/USDT trading pair will be launched at 20:00 on the same day.

Subscription Ratio: 0.85 USDT. The AVAX sold this time will come from Option B of AVAX’s official sales channel with no locking.

Maximum Subscription Amount: 2,000 USDT per person.

Trading Open: 20:00 on July 24, 2020 (UTC+8)

Trading Pair: AVAX/USDT

Deposit/Withdrawal Enable: Subject to the official launching date.

Subscription Result:

LBank will announce the subscription result in two hours after the subscription activity. The USDT used for subscription will be deducted. The actual subscription amount will be calculated within 2 hours and the following processing will be completed:

1. Deducted the USDT used in the subscription.

2. Return the remaining USDT minus the subscription fee.

3. Complete the subscription currency calculation.

* All USDT used to pay for the sale will be used for repurchasing LBK and burning.

Calculation Method

Actual Subscription Amount by Users = (Users’ Valid Subscription Amount) / (The Total Subscription Amount) * (The Total Token Amount for Sale on the Current Day)

About AVAX

Avalanche is a high-performance, scalable, customizable, and secure blockchain platform. It targets three15 broad use cases:

– Building application-specific blockchains, spanning permissioned (private) and permissionless (public) deployments.

– Building and launching highly scalable and decentralized applications (Dapps).

– Building arbitrarily complex digital assets with custom rules, covenants, and riders (smart assets).

AVAX has a capped-supply of 720,000,000 (720M) tokens. The genesis block will have 360M AVAX tokens. The principle of the emissions function chosen for Avalanche is simple: reach a capped supply, in a fashion similar to Bitcoin’s emissions curve, and yet maintain the ability to 80 govern the rate at which the system reaches this limit.

AVAX Website：https://www.avalabs.org/

Avalanche Consensus White Paper (English version)：https://arxiv.org/pdf/1906.08936.pdf

AVA Platform White Paper (English version)：https://files.avalabs.org/papers/platform.pdf

AVA Token and Economic White Paper (English version): https://files.avalabs.org/papers/ava-token.pdf

AVA Platform White Paper (Chinese version)：https://mp.weixin.qq.com/s/LERWDY-ZfHE07jCZaA05RQ

⚠️Notice:

Users need to complete KYC Verification and the following countries & regions are not supported in this event: Belarus, the Republic of the Congo, Iran, mainland China, Iraq, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and United States Virgin Islands), Zimbabwe.

Risk Warning:

1. The opening time of AVAX is not determined, LBank will follow the official information and support the deposit and withdrawal of AVAX tokens for the first time.

2. The final interpretation of this activity belongs to LBank.

Click 「HERE」to participate in the sale.