LBK Bi-Weekly Operation Report (2020.05.16–2020.05.31)
Product Updates
1. The perpetual contract entered the integration and stress test stage.
2. YuBiBao products supported Demand Deposit.
3. OptimizedAPI concurrency and documentation.
4. Optimized IOS K line, cache and network load.
5. Listed BV and AIN.
Operational Updates
1. Completed 「LBK Spring Duck Plan」 Special Sale with ELAMA with a total amount of 500,000 USDT, of which 150,000 USDT is used to repurchase and burn LBK, 350,000 USDT is used to repurchase LBK-L and burn LBK in the LBK locking
· Repurchased and burned 25,862,068.97 LBK at the price of 0.0058 USDT/LBK.
· Repurchased 83,333,333.33LBK-L at the price of 0.0042 USDT/LBK-L and burned 83,333,333.33 LBK in the LBK locking address.
2. Completed 「LBK Solar」-TFD Sale with a total amount of 80,000 USDT，equivalent to 100,000 USDT, of which 24,000 USDT is used to repurchase and burn LBK, 56,000 USDT is used to repurchase LBK-L and burn LBK in the LBK locking
· Repurchased and burned 4,137,931.034 LBK at the price of 0.0058 USDT/LBK.
· Repurchased 13,333,333.33 LBK-L at the price of 0.0042 USDT/LBK-L and burned 13,333,333.33 LBK in the LBK locking address.
3. Completed the burning of 10% of the LBK bet by the losing party in the “Prize Voting to Forecast of BTC Halving”, and burned a total of 5,687,756.1 LBK equivalent to 32,988.98 USDT.
· A total of 35,687,756.1 LBK was burned, equivalent to 206,988.98 USDT.
Burning Txn Hash: 0x408f83ea46bceadeb529ebe125c848f1c31e17fa39820fe9444add7072b82dab
· A total of 96,666,666.67 LBK in LBK locking address was burned, equivalent to 406,000 USDT.
Burning Txn Hash: 0x398e3da6ac2d4e9f81421cbb43cb61677d834cae70db6e6924f04fb30125b800
* Click “LBK Burning Address” to view the LBK burning history.
4. Completed 2 cycles of BTC mining rewards settlement of LBK Cloud-Hashrate from May 18 to May 31, with a total mining rewards of 0.5905408 BTC.
5. Completed BV Trading Contest with a total reward of 7,000 BV equivalent to 8,500 USDT.
6. Completed TFD Net-buying Contest with a total reward of 30,000 TFD equivalent to 4,500 USDT.
7. Launched “Deposit to Get Children’s Day Gift” event with a total reward equivalent to 500 USDT.
8. There is a total of 10 quantitative trading products. During the period from May 16 to June 1, with a total net worth increased by 6.65%.
ZenWin NO.2 is the fastest growing product in net worth, and the net worth increased by 3.32% in half a month. In addition, the annualized excepted return rate of USDT Fixed Annual Yield products is 16%, with a net worth increased by 0.66% between May 15 and May 27.
9. From May 11, 2020 to May 24, 2020, the income of total transaction fee is 198,881.493USDT. The community node released 2 times, at a release rate of 20%.
From May 11 to May 17, 2020, the total community nodes is 27 and the transaction fees of the nodes is 98,392.173 USDT. Weekly total amount of node release is 3,279,739.1 LBK and the release price of LBK is 0.0060 USDT/LBK which is equivalent to 19,678.435 USDT.
From May 18 to May 24 the total community nodes is 27 and the transaction fees of the nodes is 100,489.32 USDT. Weekly total amount of node release is 3,140,291.25 LBK and the release price of LBK is 0.0064 USDT/LBK which is equivalent to 20,097.864 USDT.
From May 16 to May 31, user’s weekly lockup release is 61,298,920.81 LBK. The price of LBK during the release is 0.0056 USDT/LBK, which is equivalent to 343,273.95 USDT.
Note: The transaction fees of the node are released week by week.
The LBK lock quantity in this half month is 425,498,644.86 LBK. Click “LBK lock address” to see the LBK lock quantity details.
Marketing Activities
Launched the 27th phase (05.11–05.17) , the 28th phase（05.18–05.24） and the 29th phase（05.25–05.31）of LBK “You Propose, We’ll Change” activity. A total of 7 users’ feedback have been announced and will be solved within this month. During the half month report announcement, LBank is collecting the users’ feedback for the 30th phase.
LBK Quotation Summary
During May 16 to May 31, LBK price had a maximum of 0.0074 USDT and a minimum of 0.0046 USDT, with an amplitude up to 60%. After a slump caused by the full unlock, the price bottom out and rise, and gradually opened up the upward channel. On the daily K line, the upper pressure level is 0.0095 USDT, and the new effective support position is around 0.005 USDT.
Since the launch of LBK-L, the difference between the price of LBK-L and LBK spot has been gradually narrowed, showing eye-catching performance. The highest price is 0.0061 USDT and the lowest is 0.0034 USDT. Currently, LBK-L has a much stronger trend than LBK due to the existence of arbitrage spread. It is expected to continue to narrow the arbitrage spread in the future.
In terms of capital, the overall LBK market appears part of the external inflow of capital, with the overall market upward, trading volume will be further enlarged. There has been no official buyback program recently, but a series of actions are ready for development, more optimistic about the future. It is expected that there will be a short period of callback after which the direction will be further clarified.
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