LBK Bi-Weekly Operation Report (2020.06.01–2020.06.15)

LBank Exchange
4 min readJun 18, 2020

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Product Updates

1. Added read-only function options to API interface to meet various management strategies;

2. API ordering interface supported new order types, including maker, ioc and fok orders under the direction of buying and selling;

3. Listed ABTC;

4. Added demand assets in APP Yubibao wallet;

5. Optimized the face authentication mechanism;

6. Opened directional internal test of perpetual contract.

Operational Updates

1. Completed 「LBK Spring Duck Plan」 Special Sale with Ainance with a total amount of 229,920 USDT, of which 68,976 USDT is used to repurchase and burn LBK, 160,944 USDT is used to repurchase LBK-L and burn LBK in the LBK locking address.

· Repurchased and burned 12,101,052.63 LBK at the price of 0.0057 USDT/LBK.

· Repurchased 30,950,769.23 LBK-L at the price of 0.0052 USDT/LBK-L and burned 30,950,769.23 LBK in the LBK locking address.

· A total of 12,101,052.63 LBK was burned, equivalent to 68,976 USDT.

· Burning Txn Hash:

0xdd4a26309bdbc565d2d0d251aa7a7d3fdd3a3e79ef4f52830083da72209f5a9c

· A total of 30,950,769.23 LBK in LBK locking address was burned, equivalent to 160,944 USDT.

· Burning Txn Hash:

0x3aafd86033362837ff1342b6d099d8cfb7b7273641640283f2e010fe6f677256

* Click “LBK Burning Address” to view the LBK burning history.

2. Completed 2 cycles of BTC mining rewards settlement of LBK Cloud-Hashrate from June 1 to June 14, with a total mining rewards of 0.6435328 BTC.

3. Completed “Deposit to Get Children’s Day Gift” event with a total reward equivalent to 500 USDT.

4. Launched ABTC Time-Limited with a total reward of 26,000 ABTC equivalent to 13,000 USDT.

5. Launched ABTC Trading Contest with a total reward of 72,000 ABTC equivalent to 36,000 USDT.

6. There is a total of 10 quantitative trading products. During the period from May 30 to June 12, with a total net worth increased by 2.37%.

Getcoin M&M is the fastest growing product in net worth, and the net worth increased by 0.88% 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 28 and June 10.

7. From May 25, 2020 to June 14, 2020, the income of total transaction fee is 309,907.85 The community node released 3 times, at a release rate of 20%.

From May 25 to May 31, 2020, the total community nodes is 27 and the transaction fees of the nodes is 101,259.38 USDT. Weekly total amount of node release is 3,491,702.759 LBK and the release price of LBK is 0.0058 USDT/LBK which is equivalent to 20,251.876 USDT.

From June 1 to June 7 the total community nodes is 27 and the transaction fees of the nodes is 104,892.19 USDT. Weekly total amount of node release is 3,746,149.643 LBK and the release price of LBK is 0.0056 USDT/LBK which is equivalent to 20,978.438 USDT.

From June 8 to June 14 the total community nodes is 27 and the transaction fees of the nodes is 103,756.28 USDT. Weekly total amount of node release is 3,458,542.667 LBK and the release price of LBK is 0.0060 USDT/LBK which is equivalent to 20,751.256 USDT.

From June 1 to June 15, user’s weekly lockup release is 48,447,494.09 LBK. The price of LBK during the release is 0.0056 USDT/LBK, which is equivalent to 271,305.966 USDT.

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

The LBK lock quantity in this half month is 335,403,986.48 LBK. Click “LBK lock address” to see the LBK lock quantity details.

Marketing Activities

Launched the 30th phase (06.01–06.07) of LBK “You Propose, We’ll Change” activity. A total of 2 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 31st phase.

LBK Quotation Summary

From June 1 to June 15, the price of LBK had a maximum of 0.0065 USDT and a minimum of 0.0047 USDT, with an amplitude of 27%. After last month’s sharply rise and drop, the LBK gradually moderated, and followed by a gradual correction. On June 13, the price of LBK tested the bottom position of 0.005 USDT again and then quickly rebounding, opening the upward channel again.

In the shape of K line, the upper pressure position is 0.007 USDT, while the bottom support is still 0.005 USDT. From a technical point of view, it is highly likely to rise to the pressure position for another callback. After the completion of the three-stage bottom construction, the upline channel can be completely opened. Only if the price is stable above 0.007 USDT can it be considered as an effective breakthrough.

In terms of capital, with the recovery of the currency market, the exchange once again opened a variety of LBK holding welfare activities, the initial exit of funds gradually backflow, to support the future.

LBK-L’s performance is much better than spot, the highest price is 0.0058 USDT, the lowest price is 0.0045 USDT, which is eye-catching. The spread with the main force leads to the influx of a large number of arbitrage funds, and the spread with the spot is getting smaller and smaller. At present, the spread with the spot is basically around 7%. The price difference between LBK-L and LBK spot was even wiped out for a time. The strength of the futures price further indicates that the capital side is optimistic about the future.

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