Want to win a share in 1,000,000 UTK?

4 min readNov 7, 2019

To celebrate LBank’s listing of UTK, LBank will cooperate with UTK to distribute 1,000,000 UTK to eligible users, equivalent to 22,000 USDT.

There are two ways to earn your share in the 1,000,000 airdrop

Hold LBK
Trade UTK on the LBank Exchange

1. Hold LBK to Win UTK Airdrop

During the activity, LBank will distribute 100,000 UTK via airdrop to users who hold more than 50,000 LBK during the daily snapshot.

Total Rewards: 100,000 UTK, equivalent to 2,200 USDT.

Participate Condition: Users need to complete KYC compliance and have at least 50,000 LBK in their LBank account at the time of the snapshot.

Activity Time: November 7th 16:00 — November 14th 16:00 (UTC+8)

Snapshot Time: November 7th 16:00 — November 14th 16:00 (UTC+8). One day is counted from 16:00 of the previous day to 16:00 of the current day. Snapshots will be taken at a random time of the day and once per day.

Activity Rules:

During the activity, one day is counted from 16:00 of the previous day to 16:00 of the current day. Users who have more than 50,000 LBK in the daily snapshot position, including spot and lockup, can earn the airdrop reward.
The total airdrop reward is 100,000 UTK. The daily UTK reward, per day, is 8,000 UTK (Day 1), 10,000 UTK (Day 2), 12,000 UTK (Day 3), 14,000 UTK (Day 4), 16,000 UTK (Day 5), 18,000 UTK (Day 6), 22,000 UTK (Day 7).
According to the number of LBK held, users can receive UTK airdrop rewards during the activity. Details are as follows:

Users who have 50,000–250,000 LBK during snapshots can receive 1x airdrop reward.
Users who have more than 250,000 LBK during snapshots can receive 2x airdrop rewards.

Airdrop Reward Calculation Formula:

The airdrop reward that a user can earn per day = UTK reward amount on that day * the airdrop reward that a user can get / total users eligible for the airdrop.

For Example:

During the snapshot cycle, which is from November 7th 16:00 to November 8th 16:00, if Ming’s LBK snapshot position is 130,000 LBK, he can receive 1x the airdrop rewards. The total number of users eligible for the airdrop is 5,000. The total amount of UTK reward on that day is 8,000 UTK. From the first airdrop, Ming can earn 8000*1/5000=1.6 UTK.

During the next snapshot cycle, which is from November 9th 16:00 to November 10th 16:00, if Ming’s LBK snapshot position is 270,000 LBK, he can receive 2x the number of airdrop rewards. The total number of users eligible for the airdrop is 10,000. The total amount of UTK reward on that day is 12,000 UTK. From the second airdrop Ming can earn 12000*2/10000=2.4 UTK.

After the end of the activity, which is November 14th 16:00, Ming has two snapshots in the eligible criteria, which the corresponding airdrop reward multiplier is 1x and 2x, so he can earn 4 UTK.

Tips:

Users who have less than 50,000 LBK during the snapshots cannot join the airdrop activity.
Users who don’t complete KYC compliance cannot attend the airdrop activity.

2. Trade UTK on the LBank Exchange

During the activity, LBank will distribute 900,000 UTK according to the trading volume of UTK.

Total Rewards: 900,000 UTK, equivalent to 19,800 USDT.

Participate Condition: Users need to complete KYC compliance.

Activity Time: November 7th 16:00 — November 14th 16:00 (UTC+8)

Activity Rules:

During the activity, the Top 100 users by trading volume of UTK will share in 900,000 UTK, according to the proportion of personal trading volume in the Top 100 traders.

Reward Calculation Formula:

Trading volume of UTK = buying volume of UTK + sell volume of UTK

The number of rewards for a user = 900,000 UTK * personal trading volume / the top 100 total trading volume.

Tips:

a) Users who don’t complete KYC compliance cannot attend the airdrop activity.

b) The valid trades are not including self-trading and brushing trading volume between accounts. Users that trade in a malicious way during the competition will be disqualified from the competition.

c) The rewards will be distributed into winners’ LBank accounts within 7 working days after the activity.

d) This activity’s final interpretation belongs to the LBank team.