* Product Updates *
1. Upgraded the App wallet module for the convenient asset management and financial records search;
2. Optimized the App multi-modules, including the function of deep complication, real-name verification and C2C;
3. Optimized Web dish logic to resolve the lazy loading under network anomaly;
4. Listed the products, such as BTC sale and position deposit of Suter;
5. Reconstruction of LBank desktop application design;
6. Listed LM and SUTER.
* Operational Updates *
1. Completed BTC sale, all the USDT from sale was used to buy-back and burn LBK.
Burned 3,709,085 LBK (Average transaction price is around 0.051 USDT/LBK), which is equivalent to 189,970.67 USDT.
Burning Tx Hash:
0x8bc06034672a84e0dcc031023a77caf27c7cd202cbd45b0d2873d62a2ec230f0
Burning address: 0xb8e52b05faf9490507a0f5e8ed0c286ef0c21ef6
2. Completed LBK Solar Suter Sale:
Burned 19,984,012.8 LBK (0.05 USDT/LBK), which is equivalent to 999,200.64 USDT.
Burning Tx Hash:
0x76edd295e98b630cbd2b0492823ad154b915c81201341f083d269e4574673581
Burning address: 0xb8e52b05faf9490507a0f5e8ed0c286ef0c21ef6
3. Completed the first LBK trading competition activity, in which the total reward was 5 BTC.
4. Completed the first LBK voting listing, in which 10 projects participated and competed for the one free listing place on LBank. 34,763,047 LBKparticipated in voting, and LM won with 66% of the votes. Sent 20,000,000LM airdrop as rewards, which is equivalent to 14,000 USDT.
5. Completed unlocked and rewards settlement of the first phase of LBK-USDT Standard Staking, the lockup value of settlement was around 1,834,694.914 USDTand unlocked 41,229,099.17 LBK. The lockup users earn LBK rewards, which is equivalent to 52,726.713 USDT. The invitation rewards that users received was around 2,500 USDT, and commission rewards is around 2,505.7866USDT, total is equivalent to 5,016.35 USDT, equal to 112,727.1165 LBK.
6. Launched the second phase of LBK-USDT Standard Staking. During the half month report announcement, users’ locked LBK started to accrue interests, and lockup total is 39,997,879.44 LBK. The lockup price is 0.034783 USDT/LBK, which is equivalent to 1,391,246.24 USDT. When the lockup expires, the user will get LBK rewards directly, equivalent to 41,737.38 USDT.
7. Completed LBK Node Contribution Competition. BWWEO, Daren Community and Bihailanbei Community will separately obtain sale quota of Autumn Fatty Plan, which is equivalent to 100,000 USDT, 70,000 USDT and 50,000 USDT. Shoubiren Community and Muyun Community will obtain sale quota of Autumn Fatty Plan, which is equivalent to 30,000 USDT. Total rewards of sale quota of Autumn Fatty Plan equivalent to 280,000 USDT.
8. From November 11th to December 1st, the income of total transaction fee is 537,929.08 USDT. The community node released three times, at a release rate of 20%.
From November 11th to November 17th, the total community nodes total 27 and the transaction fees of the nodes is 202,230 USDT. Weekly total amount of node release is 808,920 LBK and the release price of LBK is 0.05 USDT/LBK which is equivalent to 40,446 USDT.
From November 18th to November 24th, the total community nodes is 27 and the transaction fees of the nodes is 172,160.08 USDT. Weekly total amount of node release is 961,788.156 LBK and the release price of LBK is 0.0358 USDT/LBK which is equivalent to 34,432.016 USDT.
From November 25th to December 1st, the total community nodes is 27 and the transaction fees of the nodes is 163,539 USDT. Weekly total amount of node release is 908,550 LBK and the release price of LBK is 0.036 USDT/LBK which is equivalent to 32,707.8 USDT.
From November 16th to December 1st, user’s weekly lockup release 9,757,996.37 LBK. The price of LBK during the release is 0.0426 USDT/LBK, which is equivalent to 415,690.64 USDT.
* Note: The transaction fees of the node are released week by week.
Total bi-weekly burning amount is 23,693,097.8 LBK, equivalent to 1,189,171.31 USDT
* Marketing Activities *
1. The 4 AMA’s came to a successful conclusion, including 3 AMA’s with Suter Project, in which rewards of 22,500 Suterwas distributed, equivalent to 1,800 USDT. Also invited Jorge Rebelo, community operation director of Utrust to attend an AMA, and distributed 7,000 UTK airdrops, which is equivalent to 154 USDT.
2. Launched the second phase (11.05-11.18) and the third phase (11.19-11.25) of LBK “You Propose, We’ll Change” activity. A total of 10 user feedbacks have been received, of which 8 have been resolved and 2 have in the optimization. During the half month report announcement, LBank is collecting the users’ feedbacks for the fourth phase activity.
* LBK Quotation Summary *
Quotation Review:
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 half month fluctuated between 0.0306 USDT and 0.0509 USDT. Compared to the opening quotation, the highest price during that time increased 340%. From August 13th to December 1st, total volume is around 6,001,412,000 LBK. From November 16th to December 1st, total volume is around 1,896,005,000 LBK.
In the afternoon of November 16th, LBK experienced increase, and the price increased from 0.0431 USDT to 0.0569 USDT. The hourly volume at 19:00 in November 17th increased by 8.42%. After that, the price fluctuated between 0.0552 USDT and 0.0569 USDT.
From the morning to 19:00 in November 22nd, LBK price stable fluctuated at 0.0475 USDT. At 20:00, the dropping prices of the mainstream currency affected LBK, that the hourly volume declined by 10.83%. When the price reached to 0.0364 USD, quotation appeared to the bottom-support bounce and reached to 0.0456 USDT. After that, the price fluctuated between 0.0428 USDT and 0.0454 USDT from 3:00 to 12:00 in November 23rd.
In the morning of November 25th, LBK declined from 0.0355 USDT to 0.0306 USDT. At 13:00, it increased and returned to 0.0370 USDT at 18:00. Total daily transaction volume reached 96,078,000 LBK, which was the highest in three days.
From the evening of November 28th to the morning of December 2nd, the quotation price trended to stable, and the price fluctuated between 0.0366 USDT and 0.0392 USDT.
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