Review: Lbank’s First IEO Project — All You Need to Know About Pins | by LBank Exchange | Aug, 2023

From the LBank blog.

In a recent AMA session held on Lbank, the much-anticipated first IEO project of the year, Pins, was unveiled to the eager community. The 40-minute session was facilitated by Lbank’s very own Jason, and was co-hosted with a representative from the PIN project. Here’s a deep dive into the insightful conversation.

“The world of Pins is not just any virtual society, it’s a reflection of our real world with a twist of digital transformation, primarily through NFT digital identities and the intriguing concept of meta-stories via multiplayer role-playing.” — PIN’s representative

Introduction to Pins:

Pins aims to blend the real with the virtual, leveraging NFT digital identities, story-driven social interactions, and social currencies. This paints a comprehensive image of a vast virtual world rich in culture and history, with vertical timeline-based viewpoints for the community. To give a more practical instance, the “Adventure of NOKI” Verse allows users to immerse themselves as an NFT cat adopter, each having a unique personality, backstory, and historical significance.

“It’s the bridge between reality and imagination. Imagine playing various roles, dabbling in economic and social activities, and carving your narrative. That’s Pins for you.” — Lbank Angel, Young.

Selection by LBank:

One of the most awaited answers was why LBank chose Pins for their first IEO activity. While Pins humbly responded, their achievements speak volumes. Their robust product and operational capabilities, coupled with the token economic model’s involvement and operation strengths, made them an ideal choice.

“In the ever-evolving world of crypto, Pins stands out with its innovation, strong product framework, and the potential it brings to the table.” — Young.

Innovative Token Mechanics:

Pins’ economic model, designed as a two-tier ecological cycle, has PINS token supporting the entire platform’s upper-level economic ecology. This token becomes the driving force for various activities within the Pins metaverse social network, from investments to gaming. Furthermore, the inherent flexibility of Pins allows individual Verses to tailor game and economic rules.

“It’s more than just a token. It’s a passport to a vast world of opportunities, adventures, and economic possibilities.” — PIN’s representative.

Inclusion of NFTs & Tokens:

The Pins project aims to break monopolistic tendencies and promotes an open economic world. By introducing external Crypto assets, Pins not only strengthens the internal network liquidity but also provides a new purpose for these assets.

“In the vast ocean of crypto, the inclusion of external assets isn’t merely an economic decision but a strategic approach to ensure sustained growth and adaptability.” — Young.

Post-Launch Strategy:

Addressing post-launch challenges, Pins emphasized continuous innovation at the application level, maintaining openness, and maximizing the positive contributions of its community. Their proactive approach toward future challenges, paired with their commitment to user engagement, is commendable.

“Our vision for Pins is not just about achieving short-term goals but ensuring a sustainable, balanced development. The heart of Pins lies in its community.” — PIN’s representative.

Future Plans:

Pins has a series of exciting updates scheduled, including the “run away if you don’t socialize” mechanism for Noki, and the junior and advanced developer modes to foster community creativity.

“The roadmap ahead is clear, and with each step, we aim to bring our community closer to an immersive Pins experience.” — PIN’s representative.

In conclusion, Lbank’s first IEO project, Pins, promises a unique blend of social interactions, economic opportunities, and immersive experiences. As Pins charts its path into the future, it’s bound to redefine digital interactions and the concept of virtual societies.

Community Questions & Responses:

What is the investment method of LBank’s IEO? How to participate? Do ordinary people have the opportunity to participate?

LBank’s new IEO PINS project has been crafted to accommodate a wide range of users, including everyday individuals. Here are the detailed steps and prerequisites for participation:

Investment Method:

The amount a user can invest in the IEO is determined by LBank based on the user’s 30-day average daily holdings from currency, contracts, and wealth management accounts, with a focus on mainstream currencies (BTC, ETH, USDT, and LBK). The more mainstream coins a user holds, the greater their investment potential in the IEO. Note: Only the principal is considered for contract accounts, excluding the experience fee.

Participation Procedure:

• LBank will monitor users’ average daily holdings of BTC, ETH, USDT, and LBK from 08:00 on August 1, 2023 to 08:00 on August 30, 2023.

• Post 14:00 on August 31, 2023, the investment feature activates, enabling users to agree to the purchase terms and complete the investment within a 5-hour window. Remember: Only USDT from the spot account can be utilized for investment, and once committed, cannot be pulled back.

• Once invested, the corresponding USDT becomes locked and cannot be repurposed until token distribution finalizes.

• At 19:00 on August 31, 2023, the input channel gets sealed, post which token distribution results are computed over the next two hours.

• At 21:00 on August 31, 2023, the token distribution outcomes are disclosed, the equivalent USDT is deducted, and PINS tokens, along with any residual USDT, are transferred to users’ spot wallets.

Eligibility Criteria:

Participants should complete identity validation (KYC) before the event. Additionally, participants should have at least one LBank transaction record and must not reside in restricted territories, including Belarus, Cuba, Crimea region, Republic of Congo, Iran, New Zealand, North Korea, South Sudan, Syria, the USA and its territories, Zimbabwe, and the People’s Republic of China.

While there are conditions, everyday individuals do have avenues to be part of the IEO. They must adhere to the stipulated prerequisites and confirm they aren’t from the barred regions.

“Ordinary individuals can engage in the IEO, provided they complete at least a single spot trade on LBank during the snapshot duration. This design ensures broad participation, irrespective of the level of involvement. Every LBank trader is a fervent backer of our IEO and enriches it through their engagement. We also aspire that our platform’s exclusive advantages get dispersed among our regular users.” — LBank Representative.

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