Dear LBank Users,

LBank will soon open subscriptions for Kalshi Pre-IPO products, offering two options: Lock (locked) and Unlock (unlocked). Users may choose based on their needs and risk tolerance.

Kalshi is an event contract trading platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), offering markets on political, economic, financial, and other real-world events. These subscription products are provided by third-party provider Paimon and are designed to give eligible users economic exposure to Kalshi.

Please note: Subscribing to these tokens does not constitute direct ownership of Kalshi shares or confer shareholder rights. Specific rights are subject to the product agreements and offering documents.

Event Schedule

  1. Actual distribution and trading arrangements are subject to platform announcements and the event page.

  2. All times below are in UTC+8:

Phase

Time

Pre-Launch Period

October 26, 2026, 17:00 – October 29, 2026, 17:00

Subscription Period

October 29, 2026, 17:00 – November 2, 2026, 17:00

Asset or Redemption Voucher Claims Expected to Open

November 2, 2026, 17:00

xKLSH Spot Trading Expected to Open

November 3, 2026, 17:00

Subscription Rules

Item

Details

Total Subscription Cap

500,000 USDT

Subscription Currency

USDT

Minimum Subscription per User

10 USDT

Maximum Subscription per User

5,000 USDT

  1. Tokens will be allocated as follows:

    • All users with valid subscriptions will receive a base allocation.

    • The remaining allocation will be distributed based on individual subscription amounts and overall subscription demand.

    • Due to the limited allocation, subscriptions may not be filled in full. Final token allocations and corresponding subscription amounts are subject to the platform’s settlement results.

  2. This event is not available to U.S. users, including persons located in the United States, U.S. residents, and entities established in the United States. Users restricted by applicable laws, regulatory requirements, sanctions, or platform rules are also ineligible.

Product Details

Lock (Locked): cKLSH

  1. The 1:1.4 ratio refers only to the number of tokens converted. It does not represent a 40% investment return or guarantee an increase in asset value. The value after conversion depends on the market price of xKLSH and the applicable product terms.

  2. If the IPO does not occur, is delayed, or other circumstances affect conversion, cKLSH will be handled in accordance with the final product terms and platform announcements.

Item

Details

Subscription Price

28 USDT per token

Lock-Up Period

IPO + 6 months. The definition and calculation of this period are subject to the final product terms.

Conversion Mechanism

After the lock-up period ends, each cKLSH may be converted into 1.4 xKLSH, subject to the agreed terms.

Unlock (Unlocked): xKLSH

  1. The opening of trading does not guarantee sufficient market liquidity or that users can sell at the subscription price or their expected price.

Item

Details

Subscription Price

39 USDT per token

Trading Arrangements

Spot trading on LBank is expected to open on November 3, 2026, at 17:00 (UTC+8).

Asset Distribution & Trading Arrangements

  1. After subscriptions close, LBank will process subscription assets in accordance with the event rules and final settlement results.

  2. Claims for the relevant assets or redemption vouchers are expected to open on November 2, 2026, at 17:00 (UTC+8).

  3. Spot trading arrangements for xKLSH are subject to platform announcements. The lock-up, conversion, and subsequent handling of cKLSH are governed by the applicable product terms.

  4. Assets related to this event may only be used within LBank. Tradable assets and trading times are subject to platform arrangements. Deposits and withdrawals are not supported.

Risk Warning

Please review the following risks before participating:

  1. Product Structure and Third-Party Risks: These tokens are provided by a third party and do not constitute direct ownership of Kalshi shares or confer shareholder rights. Users’ economic exposure and specific rights are governed by the product agreements, offering documents, and relevant legal arrangements. Product value may be affected by the status of underlying asset holdings, the relevant parties’ ability to fulfill their obligations, and the enforceability and realization of associated rights.

  2. IPO Uncertainty: Kalshi may not complete an IPO. The timing, structure, and valuation of any listing remain uncertain and may affect product value, lock-up periods, and token conversion arrangements.

  3. Price and Liquidity Risks: The subscription price does not indicate future market prices. Token prices may fluctuate significantly, and insufficient liquidity may prevent users from trading promptly or exiting at their expected price.

  4. Lock-Up and Conversion Risks: cKLSH is subject to the agreed lock-up arrangements. Actual conversion timing, quantities, and conditions are governed by the final product terms. An increase in token quantity does not imply a corresponding increase in total asset value.

  5. Scope of Platform Services: LBank only provides event information and access to participation. LBank does not guarantee the issuance or performance of third-party products, the status of underlying assets, listing outcomes, market prices, or investment returns.

This announcement is for informational purposes regarding the event only. It does not constitute investment advice, an offer, or a solicitation, nor does it promise any returns. Before participating, please carefully read the event rules, product agreements, and offering documents, understand the product structure, lock-up arrangements, and associated risks, and make an informed decision based on your risk tolerance.

Thank you for your support and trust in LBank!

LBank Team

October 26, 2026