Dear LBank users,

 

To celebrate NWC being listed on LBank, we will be launching a Grid Trading Campaign to give away a reward pool of 43,732 NWC to qualified LBank users.

 

Activity Time: 08.24 14:00 - 9.23 14:00 （UTC+8）

Total Reward: 43,732 NWC

Grid Liquidity mining trading pairs: NWC/USDT

 

Activity Rules:

 

  1. Daily Trading Volume Pool is 437.32 NWC

Participated users will get the rewards according to the proportion of their daily actual trading volume to the total trading volume each day. 

 

How to calculate your rewards: 437.32* the user's effective volume of total trading volume

Time Weighted Rewards (Refer to the Weighted Rewards for more details*): Users who participate in the grid trading for a longer time will get more rewards!

 

  1. The Top Three Daily Trading Volume Prize Pool is 291.54 NWC

Users who rank the top three in actual trading volume will share  291.54 NWC each day.

First place: 174.92 NWC

Second place: 87.46 NWC 

Third place: 29.1 NWC

  1. The total daily liquidity prize pool is 437.32 NWC

The rewards will be distributed according to the proportion of actual pending orders (USDT + NWC TOKENS) to the total pending orders of all participants. 

 

Doubled Time Weighted Rewards (Refer to the Weighted Rewards for more details*): Users who participate for more hours and days will get doubled Time Weighted Rewards.

 

  1. Top 3 daily liquidity rewards totaling 291.54 NWC

Users who rank the top three in pending orders will share 291.54 NWC each day.

First place: 174.92 NWC

Second place: 87.46 NWC 

Third place: 29.1 NWC

 

 

 

Activity Statements:

  1. Users shall use USDT + NWC to participate in this grid trading campaign;
  2. Users can choose either Auto Strategy or Manual Strategy to start the grid trading.
  3. Users can set stop and profit price, which will stop the grid trading and exit from the liquidity mining once triggered. Users may reopen the grid trading to participate but the rewards will be recalculated too. 
  4. Weighted Rewards will be calculated according to how long the user participated in.
  5. Users who don't participate in the liquidity mining in a continuous way will not enjoy the Time Weighted Rewards, and the Time Weighted Rewards shall be recalculated even resumed after a sudden termination.
  6. Rewards Paid Time: T+0

 

*Time Weighted Rewards Coefficient:

In the trading volume prize pool, the Time Weighted Rewards will be calculated by day:

If the grid trading is running for the whole 24 hours, the weighted coefficient is 1; and if it runs for two consecutive days, this coefficient will be 1.1. In this connection, the weighted coefficient will be 1.5. If the grid trading runs for five days in a row and it will be fixed until the thirtieth day.

 

In the liquidity prize pool, the Time Weighted Rewards will be calculated both by day and hours:

If the grid trading is running for 1 hour, the weighted coefficient is 1; if the running time is 2 hours, this coefficient will become 1.01. In this connection, if the grid trading runs for 24 hours, this weighted coefficient will be 1.23 with an extra daily weighted coefficient added.

 

 

Example:

If user A invested 1,000 USDT (500U + 500U equivalent NWC tokens) and all users invested 10,000 USDT (USDT + NWC tokens), user A's actual turnover on the first day is 2,000 USDT and all users' turnover on that day is 50,000 USDT, user A's effective turnover accounts for 2,000/50, 000 = 0.04, user A pending orders accounted for 1,000/10,000 = 0.1, then the user can get

  1. Volume pool reward is 437.32*0.04=17.4928 NWC. (Time-weighted bonus if participated continuously.)
  2. Liquidity pool reward of 437.32*0.1=43.732 NWC. (Time-weighted bonus if participated continuously.)
  3. If the user ranks top 3 in trading volume, he/she will get a separate additional bonus proportionally.
  4. If the user ranks in the top three in terms of volume of pending orders, he/she will receive a separate bonus proportionally.

 

Reference:

Grid Mining Instruction: https://support.lbank.site/hc/en-gb/articles/4404828321817

Grid Liquidity Mining Reward Details: https://support.lbank.site/hc/en-gb/articles/4404834520857

 

*LBank reserves the right to cancel or amend the competition or competition rules at our sole discretion.

 

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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.