Announcement of LBank Launches Order Book Mining for GDR

Dear LBank Users：

GDR/USDT trading pair will be listed at 21:00 (UTC+8) on August 31. To celebrate this listing event, LBank is launching an order book mining promotion for GDR. The reward prize is GDR.

Pending order mining rewards

Time: 08.31 21:00 - 09.07 21:00 (UTC+8)

Promotion trading pair: GDR/USDT

LBank takes a snapshot of the GDR/USDT trading pair every 5 minutes, records the amount of pending orders for the top 10 buy orders and the top 10 sell orders, then calculates the return, and distributes GDR as rewards at the end of the event. The daily mining reward for each trading pair is 204,081 GDR.

Mining reward calculation: The reward coefficient of buying order return is calculated by the amount of the pending order, the weight of the pending order and the time frame, and the selling order return is uniformly calculated with the first sell order price as the calculation price, the weight of the pending order and the time frame to calculate the reward coefficient.

* Reward of the day = amount of pending order * weight of pending order * time frame of pending order / total reward coefficient for the top ten orders *204,081 GDR

Example: A buys GDR on a first pending buy order, and the value of the pending order is 10,000 USDT. If the pending order remains untraded for one day, then he could obtain the rewards as in (10000*1)/the total coefficient of the first 10 pending orders * 204,081 GDR. B sells 100 GDR tokens on 10th pending orders, the pending price for it is 100 USDT, and the first sell order price is 2 USDT since the reward coefficient is based on the selling price. B could obtain rewards if it remains untraded, and the reward is calculated as (100*2) *0.1/Total coefficient of the top 10 pending orders * 204,081 GDR.

* The rewards will be distributed to winners’ LBank accounts within 7 working days after the end of the event.

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

If you have problems, please contact LBank official email: service@lbank.info, and we will provide sincere, friendly and immediate service for you. We also welcome you to join LBank.info official English community to discuss the latest issue, (Telegram): https://t.me/LBank_en.