LBank to Launch「LBK Spring Duck Plan」 Special Sale with BBCNP
Dear LBank users：
To benefit LBK community, LBank will launch the “LBK Spring Duck Plan” BBCNP Special Sale on April 10. In this round of sale, BBCNP equivalent to 600,000 USDT will be on sale. The LBK Special will be able to share a quota equivalent to 500,000 USDT, the Welfare Special will be able to share a quota equivalent to 100,000 USDT. BBCNP is the Hashrate Power Coin of BBC. The details are as follows:
Activity Information
Introduction of BBCNP: BBCNP is the Hashrate Power Coin of the BBC (BigBang Core). Each BBCNP is anchored the unit hashrate power of the BBC within a month from 20:00 on April 10 to 20:00 on May 10. BBCNP is scheduled to complete all the BBC’s revenue output within a month. The BBC excavated by the BBCNP is entitled to exclusive “BBC Repurchase Right”.
Revenue Distribution of Mining BBC: The mining calculation method takes the snapshot of BBCNP’s daily holding amount as the calculation base. The BBC generated by BBCNP mining will be distributed every Monday, and the earnings of last week will be distributed to accounts with BBCNP holding before 16:00 every Monday. The first round distribution of BBC earnings will be at 16:00 on April 13, and the last round will be at 16:00 on May 11 (UTC + 8).
BBC Repurchase Right: The BBC foundation undertakes, three days after the BBC mining settlement by BBCNP is the exercise period of “BBC repurchase right”. The amount used to repurchase the produced BBC in this period comes from the sale amount of 600,000 USDT. The repurchase shall be made during the specified period only and shall not be delayed.
Calculation Method of BBC Repurchase: the unit price of BBC = 600,000 USDT / the total BBC produced by BBCNP
BBC Repurchase Duration: From 20:00 on May 11 to 20:00 on May 14 (UTC+8)
Sale Information
Subscription time：17:00–19:00 on April 10, 2020 (UTC+8)
Purchase Supply：BBCNP equivalent to 600,000 USDT
Subscription Currency：USDT
Subscription Mode: weighted average allocation
Participation Condition: Users need to complete the KYC Verification.
Purchase Price Algorithm: The subscription price of BBCNP is calculated by multiplying the BBC price on April 10 by the specified coefficient.
* Snapshot Cycle of LBK Holding: From 00:00 on March 24 to 00:00 on April 10, 2020 (UTC+8)
Daily Snapshot Time: Snapshot will be taken at random times during the specified period.
1. LBK Special
Purchase Limit: LBK community are able to share a quota equivalent to 500,000 USDT. The subscription quota will be set according to the amount of LBK (spot) held by the user within the specified time. Users who do not hold LBK cannot participate. The number of LBK positions held by the user is calculated based on the average number of LBK held within the specified snapshot time.
Below is the reference table between LBK average holding amount and subscription amount:
Average LBK Holding Amount (h)
Subscription Amount (USDT)
Holding Days (Day)
100k <= h < 200k
600
14
200k <= h < 500k
1,440
14
500k <= h < 700k
4,200
14
700k <= h < 1,000k
6,600
14
1,000k <= h < 1,500k
10,800
14
H >= 1,500k
18,000
14
2. Welfare Special
Purchase Limit: Users who complete the KYC Verification are able to share a quota equivalent to 100,000 USDT which does not conflict with LBK Special.
Trading Open:
BBCNP/USDT will be listed on LBank at 20:00 on April 10, 2020 (UTC+8) and be delisted at 20:00 on May 10, 2020 (UTC+8).
BBC/USDT will be listed at 20:00 on April 13, 2020 (UTC+8).
Trading Pair: BBCNP/USDT, BBC/USDT
Subscription Results Announcement:
LBank will announce the subscription result within one hour after the end of the subscription. The USDT for subscription will be deducted. The actual subscription amount will be calculated within 1 hour and the following processing will be completed:
1 Deduct the USDT from the actual subscription;
2 Return the rest of USDT except for the deducted USDT;
3 Complete the distribution of the subscribed token.
* All USDT used to pay for this sale will be used to repurchase LBK and been burned.
Calculation:
The actual subscription amount of a account = (the effective subscription amount of the account) / (the total subscription amount of the whole platform on the same day) * (the total amount of token available for sale on the same day)
⚠️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.
* 「LBK Spring Duck Plan」 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 the activity belongs to LBank.
