LBK Bi-Weekly Operation Report (2020.05.01–2020.05.15)

Product Updates

1. Added background switching function in the Web trading interface;

2. Added market function in LBank Desktop version, optimized the lock screen and access mechanism;

3. Optimized network switching of APP, Banner and Loading icon Loading mechanism;

4. Launched the trading of LBK-L;

5. Added forecast voting;

6. Listed PLF, TFD, and ELAMA.

Operational Updates

1. Completed 3 cycles of BTC mining rewards settlement of LBK Cloud-Hashrate from April 27 to May 17, with a total mining rewards of 1.4049792BTC.

2. Completed XWC New Coin Trading Competition with a total reward of 5,000 USDT.

3. Completed a Prize Voting to Forecast BTC Halving Price with a total prize pool of 51,189,804.9 LBK which is equivalent to 563,087.8539 USDT and 5 BTC.

4. Completed GL Net-buying Contest with a final prize pool of 100,000 GL which is equivalent to 2,000 USDT.

5. Completed ELAMA Time-Limited Q&A with a total rewards of 48,000 ELAMA which is equivalent to 15,000 USDT.

6. Completed BBC Hype Battle with a total reward of 14,000 BBC which is equivalent to 12,000 USDT.

7. Launched ELAMA Net-buying Contest with a total reward of 420,000 ELAMA which is equivalent to 140,000 USDT.

8. Launched TFD Net-buying Contest with a total reward of 60,000 TFD which is equivalent to 9,000 USDT.

9. Launched the 3rd Cryptocurrency Quantitative. As of May 22, 10 products were launched, 3,240BTC and 1.8 million USDT were raised, and the total net value increased by 10.21%, with a total revenue of 39.3 BTC and 11,150 USDT.

Radiance CTA№1 is the fastest growing product in net worth, with a monthly net worth increase of 5.41%. In addition, USDT fixed revenue products annualized fixed revenue of 16%, so far, net growth of 0.99%.

10. From April 27, 2020 to May 10, 2020, the income of total transaction fee is 203,516.38 USDT. The community node released 2 times, at a release rate of 20%.

From April 27 to May 3, 2020, the total community nodes is 27 and the transaction fees of the nodes is 102,386.19 USDT. Weekly total amount of node release is 2,047,723.800 LBK and the release price of LBK is 0.0100 USDT/LBK which is equivalent to 20,477.238 USDT.

From May 4 to May 10, the total community nodes is 27 and the transaction fees of the nodes is 101,130.19 USDT. Weekly total amount of node release is 2,560,257.975 LBK and the release price of LBK is 0.0079 USDT/LBK which is equivalent to 20,226.038 USDT.

From May 1 to May 15, user’s weekly lockup release is 39,775,471.37 LBK. The price of LBK during the release is 0.0088 USDT/LBK, which is equivalent to 350,024.148 USDT.

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

Marketing Activities

Launched the 25th phase (04.27–05.03) and the 26th phase(05.04–05.10)of LBK “You Propose, We’ll Change” activity. A total of 5 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 27th phase.

LBK Quotation Summary

Between May 1 and May 15, the highest price of LBK was 0.0117 USDT, while the lowest price was 0.0052 USDT. Affected by the continued unlocking of locked LBK, the price kept going down. On May 15, a community vote was launched to convert the unlocked part of the LBK into futures LBK-L, which caused great selling pressure on the spot price. The price dropped by 40% on that day, and the subsequent spot price found support around 0.005 USDT.

On the aspect of capital, the price rose from 0.0093 USDT to 0.011 USDT due to capital buyback on May 8. However, it was subsequently suppressed by selling, and the money continued to flow out until May 15 when short-selling sentiment was released once and the price was as low as 0.0051 USDT. On the emotional face of LBK itself lack of positive information, the lack of external buying, resulting in a sustained decline in prices.

On the trading volume, the recent trading volume further reduced, trading obviously not too active, indicating the bottom of the gradual completion of swap, further hit the bottom of the price. Combined with the launch of LBK-L, the biggest negative factor has been released once, further verifying the bottom conjecture.

On the current price, the buying is thick, the selling has gradually reduced, the lower support position is at 0.0045 USDT, short-term upper pressure level is at 0.008 USDT.

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