LBK Biweekly Operation Report (Sept. 30 — Oct. 15)

LBank Exchange

4 min readOct 21, 2019

Product Updates

1. Yu Bi Bao supports the Gold Standard Staking Program and the function of getting rewards via invitations.

2. C2C optimization supports the third part of the project entering into the LBank Exchange Platform.

3. Withdraw API supports the internal transfer in the LBank exchange and showing details of the transaction fees.

4. Finished the development of Version 2.0 API to deeply improve transaction security.

5. Improved features such as optimizing voting, weekly top token, LBK info, and more.

6. Optimized the English version of the LBank App.

Operation Updates

1. Completed “LBK Autumn Fatty Plan” 30% off TRX special event.

Burning TRX：11904761.83LBK (0.0585usdt/LBK)

Burning Tx Hash: 0xa92e0786c27df1aefe1ecdd467634e981fca45e821ca876db691b965546d74f

2. Completed the one-week “Grid Trading Competition” cooperated with BitUniverse and distributed 11,990 USDT in rewards.

3. Completed the “Storing LBK Can Get 100,000 TRX Airdrop” activity of the LBK community node, with a 100,000 TRX free airdrop, which is equivalent of around 1,550 USDT.

4. Completed the “GRS Deposit Gaining Rewards” Competition and distributed 47,200 GRS in rewards, which is equivalent of around 1.247024 BTC.

5. Completed the “LBK 120% Repurchase Sale” of FLD, where users can earn rewards around 60,000 USDT.

6. Launched the “LBK Gold Standard Staking” proposal. LBK invited the LBK community to vote for the proposal. 8,370,157 LBK participated in the voting and 84.99% approved.

7. LBank launched the “21 BTC Assists LBK Community” voting prediction of The Quarterfinals of the Group Stage of S9 Season of League of Legends World Championships, in which the total reward is 21 BTC. During the half month report announcement, the activity is still underway.

8. From September 30th to October 13th, the total transaction fees are 414,062.41 USDT. Community node rewards were released twice, and the release rate is 20%.

From September 30th to October 6th, the community nodes total 27 and the transaction fees of the nodes are 215,663.85 USDT. The weekly total amount of node release is 806,220 LBK and the release price of LBK is 0.0535usdt/LBK which is the equivalent of 43,132.77 USDT.

From October 7th to October 13th, the community nodes total 27 and the transaction fee of the nodes is 198,398.56 USDT. Weekly total amount of node release is 830,119.498 LBK and the release price of LBK is 0.0478USDT/LBK which is the equivalent of 39,679.712USDT.

From September 30th to October 15th, user’s weekly lockup release 8,144,094.89 LBK. The price of LBK during the release is 0.04707USDT/LBK, which is the equivalent of 383,342.54USDT.

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

Total burning amount of LBK of this half month is 11,904,761.83, which is equivalent of 696,428.56 USDT.

Burning Tx Hash: 0xa92e0786c27df1aefe1ecdd467634e981fca45e821ca876db691b965546d74f

(The LBK which entered into the burning address cannot be transferred)

Marketing Updates

LBank attended 5 AMA activities about the “LBK Gold Standard Staking” program this fortnight, with more than 5 special reports posted online. Total views are more than 1,300,000. Media and reports are listed below:

Media Reports

Honeycomb Finance — 金本位计息年化36%+ LBK Staking什么来头？

Bolian Finance — 金本位锁仓，LBK如何躺赢36%＋年化收益率？

Shenlian Finance — LBank首席运营官xy：好的Staking就应该直接谈钱

Yangtuo BTC (Special Report) — 【专访】玩转LBK金本位Staking，让你赚钱更轻松！

BiBen Community — 币本《佩奇SHOW》第三期：躺赢36%+年化收益！LBK金本位锁仓是如何实现的？

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 two weeks is still unstable, and the highest price during that time is 0.0552 USDT. Compared to the opening quotation, the price increased by 368%. Form August 13th to October 14th, the total volume is around 3,010,411,000 LBK.

Early morning to noon on September 30th, LBK experienced a short decline. At 13:30, it was oversold, which declined 12.45% in half an hour. When the price is declined to 0.0421, the market rebounded naturally, and the price increased to 0.0530 USDT at 15:30. With an hourly trading volume of 7,736,000 LBK, this was the ten-day peak.

In the morning of October 5th, LBK was in the face of declines, and after LBK declined to 0.0431 USDT at 10:30, it turned up from the bottom-supported stage. After that, the price fluctuated between 0.0430 USDT and 0.0445 USDT.

Recently, LBK launched the “LBK Gold Standard Staking” program, the quotation price sharply rose between Oct. 8th and Oct. 10th. After reaching 0.0476USDT at 13:00 on Oct. 8th, the price was in the short correction, and it went up on Oct. 9th. The price reached the peak price of 0.0555 USDT on Oct. 10th.

From Oct. 10th to Oct. 11th, LBK experienced two rounds of decline, the price went down to 0.0457 USDT at 11:00 on Oct. 11th. The trading volume reached 9,636,000 LBK in one hour in the afternoon, and after that, it turned up from the bottom-supported stage to the price of 0.0457 USDT. The price fluctuated between 0.0476 USDT and 0.0494 USDT.