Announcement about LBank will launch「LBK 120% Repurchase Sale Special Event」with DUO Network

Dear LBank Users:

To celebrate LBank's listing of the DUO/USDT trading pair, and benefit back to community, LBK launched the "LBK Repurchase Sale " DUO special event, total 1,000,000 DUO for sale which equivalet 220 thousands USDT, The saling price is going to be the normal market price, and will enable the 120% price hyper-repurchase right.（This event is currently supported only on the Web side）The details are as follow:

Purchase time：：16:00-18:00 on August 29, 2019 (UTC+8)

Purchase Supply：1,000,000 DUO

Purchase Currency：LBK

Purchase Method：Weighted Average Allocation

Participation conditions: Real name KYC is required & should hold LBK with specific positions(more than 10000LBK).

Repurchase exercise: the exercise of the repurchase right will be activated one week after the trading list and last for 30 days. The repurchase account is DUO_repurchase@126.com and will be notified by a separate announcement.

Repurchase price: the Repurchase exercise price will be executed at 120% of the selling price. For example, DUO with a selling price of 0.22USDT, the Repurchase price will be 0.22*1.2=0.264USDT

Snapshot Time: Random time on 10:00 – 15:00 on Aug 29(UTC+8)

Trade Enable: 19:00, Aug 29(UTC+8)

Trading Pair: DUO/USDT

Purchase Price Algorithm: Since the price of LBK is not stable while the trading launched, the price of LBK will be calculated according to the trading price of LBK/USDT trading pair within 4 hours before the subscription. The calculation rule will be:  We will backdate 3 hours from the first half hour of the time while the subscription is accepted, and set the executive price with the average price the 3 hours. The purchase will be executed with a half price at the average DUO price for the first three days of sale (August 26,27,28). For example, the average price of DUO in recent 3 days was 0.22USDT, and use the current price of LBK as executive price to to the half price purchase will be calculated as: 1LBK=0.51DUO.

Limit Purchase Quantity: Set purchase quantity according to the average amount of LBK held position by users within the specified period (including unlocked & locked). Users who do not hold LBK cannot participate, and the larger the quantity of LBK position, the higher the purchase quantity. The following is the comparison table between the amount of LBK held position and the purchase quantity:

Culculation

Actual purchase amount of the account = (valid subscription amount of the account)/(total subscription amount of the whole station on the period) * (total quota of Token sales on the period)

Example

User B participated in this round of discount sales. At the beginning of this event, the holding quantity of LBK snapshot was 50,000, and he applied for the Token amount of 5000DUO. Assuming that the total amount of Token used for sale is 1 million DUO, and assuming the price of LBK used in this sale is 0.1125 USDT, then the actual LBK User B needs to pay for purchase is :(50000/1000000 *500000)*0.176 /0.1125=3911.11 LBK

Purchase Result:

After the user places the order, the LBK used for the purchase will be deducted, the actual purchase amount will be calculated within 1 day, and the following processing will be completed:

1) Deducting the LBK actually used for purchase;

2) Returning LBK other than the purchase fee;

3) Complete the purchase calculation.

The following countries&regions are not supported

Afghanistan, Albania, belarus, bosnia and herzegovina, Burundi, Burma, Canada, the democratic republic of Congo (gold), Cuba, Ethiopia, guinea Bissau, guinea, Iran, Iraq, Japan, Korea, Liberia, Lebanon, Libya, Macedonia, Malaysia, New Zealand, Serbia, Sri Lanka, Sudan, somalia, Syria, Thailand, Trinidad and Tobago, Tunisia, and Uganda, Ukraine, the United States, venezuela, yemen, Zimbabwe.

Users in other countries should participate in accordance with their own nation laws.

Get in「LBK 120% Repurchasable Sale with DUO」 

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 issu, (Telegram): https://t.me/LBankinfo.