LBK Bi-Weekly Operation Report (2020.03.02–2020.03.16)

LBank Exchange

4 min readMar 20, 2020

Product Updates

1. Added Market module on PC.

2. Added ETF module on H5.

3. Optimized the price mechanism of C2C to ensure the stability under extreme market condition.

4. Added Customer ID for Websocket order push.

5. Optimized the delay of APP data loading and some other interactive experience.

6. Completed the main network switching of HTDF and CCTC.

Operational Updates

1. Completed two cycles of BTC mining rewards settlement of LBK Cloud-Hashrate from March2 to March 15, with a total mining rewards of 1.1295744 BTC.

2. Launched LBank №1 Mining Pool — Suter Staking with a expected annualized rate of return up to 50%.

3. Completed FO Trading Competition, a total rewards of 1,000,001 FO has been distributed which is equivalent to 10,000 USDT.

4. Completed the Leverage ETF Challenger Cup. A total of 7,612 USDT has been distributed.

5. Launched High-quality Projects Supporting Event with 100 BTC Giveaway, the High-quality start-up projects listed on LBank can receive supporting funds for at least 10 BTC.

6. From February24,2020 to March 15, 2020, the income of total transaction fee is 316,398.07 USDT. The community node released 3 times, at a release rate of 20%.

From February 24 to March 1 2020, the total community nodes is 27 and the transaction fees of the nodes is 107,834.07 USDT. Weekly total amount of node release is 1,291,425.988 LBK and the release price of LBK is 0.0167 USDT/LBK which is equivalent to 21,566.814 USDT.

From March 2 to March 8, the total community nodes is 27 and the transaction fees of the nodes is 103,576.79 USDT. Weekly total amount of node release is 1,381,023.867 LBK and the release price of LBK is 0.015 USDT/LBK which is equivalent to 20,715.358 USDT.

From March 9 to March 15, the total community nodes is 27 and the transaction fees of the nodes is 104,987.21 USDT. Weekly total amount of node release is 1,399,829.467 LBK and the release price of LBK is 0.015 USDT/LBK which is equivalent to 20,997.442 USDT.

From March 2 to March 16, user’s weekly lockup release is 22,873,286.79 LBK. The price of LBK during the release is 0.0172 USDT/LBK, which is equivalent to 393,420.53 USDT.

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

Marketing Activities

Launched the 16th phase (02.24–03.01) and the 17th phase (03.02–03.08) of LBK “You Propose, We’ll Change” activity. A total of 6 users’ feedback have been received and will be solved within this month. During the half month report announcement, LBank is collecting the users’ feedback for the 18th phase activity.

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 0.0091 USDT and 0.0268 USDT. From August 13th, 2019 to March 17, 2020, total volume is around 15,507,899,000 LBK. From March 2 to March 18, total volume is around 1,875,000,000 LBK.

In terms of 4 Hour K Line, the price of LBK fell slightly in the last two weeks and trading volume was relatively stable; in this period, the highest price reached 0.0268 USDT at 13:00 on March 7 and the lowest price reached to 0.0091 USDT at 9:00 on March 13.

From March 2 to March 7, LBK price formed a strong rising channel and showed an overall upward trend. The price continued to rise from 0.0154 USDT at 10:00 on March 2 to 0.0268 USDT at 15:00 on March 7 and then the rising trend was ended.

From the early morning on March 9 to 11:00 on March 12, the price was leveling out and fluctuated between 0.0175 USDT to 0.0215 USDT. Then the price began to decline, with the market trend, from 0.0138 USDT at 18:00 on March 12 to 0.0091 USDT at 4:00 on March 13. The corresponding two-day decline was 28.43% and 11.63% respectively. Trading volume also hit a new high of 305,340,000 LBK on March 13 since the quotation has been opened. Then the price bottomed out, peaking at 0.0165 USDT at 21:00. Then it fluctuated slightly between 0.0133 USDT and 0.0146 USDT.