Announcement on LBank's Global Debut of VTHO/ETH Transaction

Dear LBank users:

LBank will launch VTHO/ETH transaction at 18:00 (GMT + 8) on July 23, 2018.

As the energy or the cost of carrying on the payment transactions and smart contract transactions on the VeChainThor Blockchain, VTHO is generated from VET over time. It will be generated at a constant velocity with the generation of each new block of VET. As a result, as long as a user holds VET, he/she will be given VTHO in his wallet as a benefit. Starting from July 23, 2018, LBank will distribute VTHO dividends for the platform's VET holders on a daily basis.

  For details about the distribution scheme, click: distribution scheme

If any questions, please feel free to contact service@lbank.info. We will be always at your service and answer your questions as soon as we can. Thank you for your support and understanding!

Meanwhile, you are welcome to join the LBank global community to discuss about the latest news (Telegram): https://t.me/LBankinfo.

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Detailed distribution rules are as follows:

Algorithm:

Number of VTHO distributed per user per day = total number of VTHO generated on the platform that day * proportion of user position in total holdings

Proportion of user position in total holdings = User position as shown on the daily snapshot/ the sum of all user positions as shown on the daily snapshot

A user position for a particular day is subject to an asset snapshot at a random time between 12:00 and 18:00 (GMT8) that day.

Time:

Every day at 14:00 (GMT+8), VTHO generated from VET holdings on the previous day will be distributed. (In the event of a statutory holiday, the distribution will be postponed to the next working day.)