LBK Bi-Weekly Operation Report (12.17–12.31)

4 min readJan 3, 2020

Product Updates

1. Launched LBank Desktop supporting Mac and Windows;

2. Added network monitoring function to optimize the network lines;

3. Improved the interactive experience of different skins in the APP and adjusted the English sentences on the homepage;

4. Optimized asset ranking and optimized inquiry of rebate and commission transaction records;

5. Started the development of LBank H5;

6. Listed SLA, ATOM,and DOGE.

Operational Updates

1. Completed the LBK Cloud-Hashrate sale:

Burned 4,876,190.476 LBK（Average transaction price is around 0.03 usdt/LBK), equivalent to 146,285.71 USDT

Burning Tx Hash: 0x97ac37c2be0a18f136974a94cdf9c6162fee5d865a7061521bdbbcb5e84a51f3

Burning Address: 0xb8e52b05faf9490507a0f5e8ed0c286ef0c21ef6

2. Completed the second LBK voting listing, in which 10 projects participated and competed for the one free listing place on LBank. 32,422,517 LBKparticipated in voting, and DCNwon with 84.47% of the votes. 250,000,000 DCN airdrop rewards will be sent to the supporters, which is equivalent to 5,000 USDT;

3. Launched You Propose, We’ll Change — LBank Desktop Special to Win LBK Exclusive Peripheral Gifts and USDT Rewards. As of this report was announced, the activity was still under way. 50 LBK peripheral gifts and 300 USDT airdrop rewards will be distributed after the end of this activity;

4. Completed unlocked and rewards settlement of the second phase of LBK-USDT Standard Staking. The unlock price was 0.0283 USDT/LBK, the lockup value of settlement was around 1,441,331.1USDT and unlocked 50,930,427.75 LBK. The lockup users will earn LBK rewards, which is equivalent to 50,084.8 USDT. The invitation rewards that users received was around 3,773 USDT, and commission rewards is around 2,873 USDT, total reward is equal to 133,321.55 LBK.

5. Launched the third phase of LBK-USDT Standard Staking. During the half month report announcement, user can still lock LBK started to accrue interests, and lockup total for now is 13,111,182.3 LBK,which is equivalent to 393,335.469 USDT. When the lockup expires, the user will get LBK rewards directly, equivalent to 11,800.06 USDT.

6. Launch the theme activity of Reimburse the Tickets Home. The activity is still under way during the bi-weekly report. During the event, 5 users will be selected each day and their tickets home will be reimbursed in the form of USDT. The maximum reimbursement for a single user is 200 USDT.

7. From December 16thto December 29th, the income of total transaction fee is 262,830.825 USDT. The community node released 2 times, at a release rate of 20%.

From December 16th to December 22nd, the total community nodes total 27 and the transaction fees of the nodes is 132,194.025 USDT. Weekly total amount of node release is 908,550 LBK and the release price of LBK is 0.0291 USDT/LBK which is equivalent to 26,438.805 USDT.

From December 23rd to December 29th, the total community nodes is 27 and the transaction fees of the nodes is130,636.8 USDT. Weekly total amount of node release is 933,120 LBK and the release price of LBK is 0.0280 USDT/LBK which is equivalent to 26,127.36 USDT.

From December 17th to December 31st,, user’s weekly lockup release 18,497,019.73 LBK. The price of LBK during the release is 0.0292 USDT/LBK, which is equivalent to 540,112.97 USDT.

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

Total bi-weekly burning amount is 4,876,190.476 LBK, equivalent to 146,285.71 USDT.

Marketing Activities

Launched the sixth phase (12.10–12.16), the seventh phase (12.17–12.23) and the eighth (12.24–12.30) of LBK “You Propose, We’ll Change” activity. A total of 11 user feedbacks have been received and all of them have been resolved already. During the half month report announcement, LBank is collecting the users’ feedbacks for the ninth phase activity.

LBK Quotation Summary

Quotation Review:

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 0.0280 USDT and 0.0338 USDT. In terms of the 1 Week K Line, after 7 negative lines, the current price has been successful stop the decline. From August 13th to December 31st, total volume is around 8,351,000,000 LBK. From December 17th to December 31st, total volume is around 942,537,000 LBK.

In terms of 4 Hour K Line, the price of LBK has fluctuated in a small range in the last two weeks and no apparent decline in trading volume; the highest price reached to 0.0320 USDT at 0:00 on December 17th and the lowest price reached to 0.0269 USDT at 16:00 on December 27th.

At 20:00 on December 17th, the price of LBK began to out of the volatility and showed an overall upward trend, and the highest price reached to 0.0300 USDT. Then the quotation appeared a certain pressure and the price declined to 0.0268 USDT at 20:00 on December 19th.

At 20:00 on December 29th, after 5 consecutive positive lines the highest price reached to 0.0282 USDT. Then the price fluctuated between 0.0270–0.0290 USDT. The current price of LBK showed a stable trend. In the following days, we will focus on whether the price can get out of the price box and choose direction again.