LBank to Launch LBK Solar — TFD Sale Special
Dear LBank users:
LBank will launch LBK Solar TFD (ETFDAO) Sale with a total quota of TFD equivalent to 100,000 USDT. The details are as follows:
Sale Time
This Sale will start at 16:00 on May 13 (UTC+8) and end at 18:00 on May 13, 2020 (UTC+8).
Details about Solar TFD（ETFDAO）
1. Token Name: TFD
2. Token Amount: 210,000,000 TFD
3. Solar Quota of Sale: 666,666 TFD
4. Subscription Token: USDT
5. Subscription Ratio: 1 TFD = 0.12USDT (The original price of TFD is 0.15 USDT)
6. Subscription Model: Everyone can participate (weighted average).
7. Lockup Token Release: The Token will be released after the subscriptions.
Participation Condition: Users need to complete the KYC verification.
· Solar Special：Total amount of 50,000USDT equivalent TFD. All KYC eligible users are entitled to a subscription limit of 1,000USDT.
· LBK Beneficial Special：Total amount of 50,000USDT equivalent TFD. The subscription amount is set according to the current LBK amount (spot) that users have at a certain period(30days), user needs to holding more than 100,000 LBK to gain 1,000USDT purchase quota, users who don’t hold LBK can not participate in this sale event. The LBK position amount is calculated by the average LBK position during the snapshot cycle.
Snapshot Cycle of LBK Holding:From April 13, 12:00 to May 12, 12:00(UTC+8)
Trading Open: 16:00 on May 15, 2020 (UTC+8)
Trading Pair: TFD/USDT
Subscription Result:
LBank will announce the subscription result in two hour after the subscription activity. The USDT used for subscription will be deducted. The actual subscription amount will be calculated within 2 hour 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 TFD (ETFDAO)
By using cross-chain technology and deploying five major smart contracts and six major data interfaces, ETFDAO will build a five-in-one closed-loop ecosystem consisting of investors, foundations, DAO portfolios, Oracles and offline financial services.
TFD as a token will first go to a decentralized exchange for listing transactions. Transaction pricing adopts market mechanism to fully explore the intrinsic value of TFD. After the development of the main technology is completed, the R & D and docking of the decentralized exchange will be implemented, and the token trading and economic model will be closed on the chain.
⚠️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.
* Solar is a high-risk investment method, investors should participate rationally and guard against investment risks. LBank is not responsible for any investment behavior such as guarantee, compensation, etc.;
* The final interpretation of Solar belongs to LBank.
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