From the LBank blog.
• Log in to www.lbank.com
• Deposit more assets (BTC, ETH, USDT, and LBK) to your spot account. Click here to deposit [https://www.lbank.com/wallet/account/main/deposit/crypto/usdt/].
Minimum deposit amounts: BTC ≥ 0.0001, ETH ≥ 0.0001, USDT ≥ 1, LBK ≥ 100.
• Wait for the system snapshot.
From 2023–08–01 08:00 to 08–30 08:00, the daily average holdings of major coins (BTC, ETH, USDT, and LBK) in users’ spot accounts will determine the allowed investment amount.
• Go to the event page to check the allowed amount.
• Sign the purchase agreement.
• To get as many tokens as possible, deposit the required USDT according to your quota.
• Wait for the system to calculate the actual number of tokens you will receive.
- Check the received tokens and returned USDT. Click here to go to the spot account [https://www.lbank.com/wallet/currency/].
- Note: Before participating in the event, complete at least one spot trade. Click to go to spot trading [https://www.lbank.com/trade/btc_usdt/].
Frequently Asked Questions:
1. How is the investment amount calculated?
The investment amount is determined by the average daily holdings of major coins (BTC, ETH, USDT, and LBK) in the user’s spot account over the past 30 days.
2. What is the currency used for participation?
USDT in the spot account.
3. What are the other requirements for participation?
There should be ≥ 1 spot trade within the last 30 days to meet the participation criteria.
4. How to participate?
After the deposit window is open, go to the event page, sign the purchase agreement, and complete it within 5 hours. Failure to do so within the timeframe will result in an inability to participate.
Once the deposit is completed, the USDT in your account will be deducted. After the token distribution is finished, the remaining USDT and received tokens will be returned.
1. How are tokens allocated?
The number of tokens allocated to a user = Number of USDT deposited by the user / Total number of USDT deposited by all users * Total number of tokens for sale in this Launchpad session.
For example: If the total number of tokens sold in a particular Launchpad period is 200,000,000 ABC and 10 users participate, with one user contributing 5,000 USDT and the other 9 users contributing a total of 100,000 USDT, the projected allocation for that user would be: 5,000 USDT / 105,000 USDT * 200,000,000 ABC = 9,523,809 ABC (representing 4.76% of the total sale). Refer to the table below (Table 1):
Token Allocation for Users (Table 1)
Using the above ABC project as an example (Reference: Table 1), if the individual hard cap is set at 20,000,000 ABC, then User1 and User2 have reached the personal hard cap. Therefore, the excess should be deducted from the original allocated token amount. Refer to the table below (Table2):
Token Allocation for Users (Table 2)
In Table 2, the excess tokens for User1 and User2 beyond the personal hard cap is 36,190,476 ABC. This excess amount needs to be recalculated based on the contribution ratios of other users who haven’t reached the cap and redistributed. The final token allocation is shown in the table below
Token Allocation for Users (Table 3)
For instance, using User3 as an example (comparing Table 1 and Table 3), without the hard cap restriction, their allocated tokens would have been 6,666,667 ABC. After applying the hard cap restriction, User3’s token allocation increased to 16,800,000 ABC.
For the specific number of tokens you can receive, please visit the event page.
Find more by clicking down:
This article came directly from the LBank blog, found on https://lbank-exchange.medium.com/pins-pins-network-set-to-launch-on-lbank-launchpad-how-to-participate-in-e2f84a6f5e72?source=rss-87c24ae35186——2