LBK Bi-Weekly Operation Report (10.31–11.15)

Product Updates

1. LBK community opened the institutional node ranking, increased subscription discount rights of community nodes.

2. API V2 added the incremental update function.

3. Added facial recognition rules for C2C transaction to guarantee safety for users.

4. Adjusted the safety strategies such as password rules, abnormal withdraw limit.

5. Adjusted asset deposit and withdraw accuracy.

6. Optimized the App experience and fixed Bugs, including transaction, Candlestick Charts network, etc.

7. Listed GKI, BPC, LT and completed the dock with CKB main network.

Operational Updates

1. Completed “10 BTC Assists LBK Community” prediction of “The Winner of S9 Season of League of Legends World Championships”, in which the total reward was 10 BTC.

2. Launched the first “LBK Voting Listing”, in which 10 projects compete for listing on the LBank Exchange for free. During the half month report announcement, the voting is still underway, and more than 33,677,881 LBK has already participated in the voting.

3. Completed the “Holding and Transaction Ranking to Win the Airdrop Competition”, in which 1,000,000 UTK was shared between users, equivalent to 22,000 USDT.

4. Launched the LBK Node Contribution Competition, which the institutional nodes and community nodes scramble for IEO quota and discount sale quota of Autumn Fatty Plan through the contribution credits.

5. From October 31st to November 10th, the income of total transaction fee is 403,885.575 USDT. The community node released twice, at a release rate of 20%.

From October 28th to November 3rd, the total community nodes total 27 and the transaction fees of the nodes is 200,069.325 USDT. Weekly total amount of node release is 708,210 LBK and the release price of LBK is 0.0565 USDT/LBK which is equivalent to 40,013.865 USDT.

From November 4th to November 10th, the total community nodes is 27 and the transaction fees of the nodes is 203,816.25 USDT. Weekly total amount of node release is 741,150 LBK and the release price of LBK is 0.055 USDT/LBK which is equivalent to 40,763.25 USDT.

From October 31st to November 15th, user’s weekly lockup release 7,111,355.53 LBK. The price of LBK during the release is 0.0583 USDT/LBK, which is equivalent to 414,592.027 USDT.

Note: The transaction fees of the node are released week by week.

Marketing Activities

1. The 4 LBK Debates came to a successful conclusion, in which 6 invited speakers, including Dovey Wan.

2. The third stop of the LBK Blockchain Sharing Event in Changsha came to a successful conclusion. XY, the COO of LBank made a presentation, and LBank also invited several projects from the local community in Changsha to create an LBK community. This event had great traffic in the community.

3. Shoubiren Community, Longmao Ecological Alliance, Krypital Group and Bihailanbei Community announced as LBank delegate nodes.

LBK Quotation Summary

Since the LBK project opened quotation with the price of 0.015 USDT from August 12th, 2019, after the sharp rises and corrections in the early stage, the price during the past half month fluctuated between 0.0484 USDT and 0.0711 USDT. Compared to the opening quotation, the highest price during that time increased 474%. From August 13th to November 15th, total volume is around 4,103,416,000 LBK. From October 31st to November 15th, total volume is around 997,008,000 LBK.

In the evening of November 31st, LBK experienced increase, and the price increased from 0.0484 USDT to 0.0609 USDT and it turned down to 0.0544 USDT in the morning of November 2nd. After that, the price fluctuated between 0.0536 USDT and 0.0577 USDT.

LBK respectively formed two strong rising channels on November 6th and November 8th, which showed an overall upward trend. The price reached to 0.0635 USDT at 13:00 on November 8th. After the brief callback, the price increased at the next day, and the highest price of November 8th reached to 0.0690 USDT.

It showed a large amount of sales in the afternoon of November 11th and declined by 8.7% at 17:00 of the same day. The price declined to 0.0514 USDT and quotation appeared to the bottom-support bounce. The price fluctuated between 0.0543 USDT and 0.0576 USDT from November 12th to November 13th.

In the evening of November 15th, the dropping prices of the mainstream currency caused panic in the community, where LBK affected as well. It continued to decline, and declined by 8.17%. The price declined to 0.0573 USDT to 0.0468 USDT. Total hourly volume reached to 14,210,000 LBK at 22:00 on November 15th. After that, the price fluctuated between 0.0470 USDT and 0.0502 USDT.

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Medium: https://medium.com/LBank

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