Dear LBank users,
To give back to our global communities, LBank will launch SP500 (SP500 Token) Order-Book Mining competitions to give away $5,000 in $SP500!
Event Period: August.05 - August.09, 11:00 (UTC)
Order Book Mining: Trade to Share $5,000 in $SP500
LBank takes a snapshot of trading pairs every 5 minutes, records the top 10 buy orders and the top 10 sell orders in terms of pending order volume, then calculates the earnings and distributes the rewards proportionally at the end of the event, dividing the total prize pool of $5,000 in $SP500.
| Weight of Buying Orders | Weight of Selling Orders |
| 1st: 1 | 1st: 1 |
| 2nd: 0.9 | 2nd: 0.9 |
| 3rd: 0.8 | 3rd: 0.8 |
| 4th: 0.7 | 4th: 0.7 |
| 5th: 0.6 | 5th: 0.6 |
| 6th: 0.5 | 6th: 0.5 |
| 7th: 0.4 | 7th: 0.4 |
| 8th: 0.3 | 8th: 0.3 |
| 9th: 0.2 | 9th: 0.2 |
| 10th: 0.1 | 10th: 0.1 |
Example: A buys SP500 on a first pending buy order, and the value of the pending order is 10,000 USDT. If the pending order remains untraded for one day, then he could obtain the rewards as in (10000*1)/the total coefficient of the first 10 pending orders * $1000 in $SP500. B sells 100 SP500 tokens on 10th pending orders, the pending price for it is 100 USDT, and the first sell order price is 2 USDT since the reward coefficient is based on the selling price. B could obtain rewards if it remains untraded, and the reward is calculated as (100*2) *0.1/Total coefficient of the top 10 pending orders * $1000 in $SP500.
👉Trade Now
⚠️Note:
- By trading ZMAT, users will automatically participate in the Order-Book Mining Competition activities.
- All rewards will be distributed within seven business days after the end of the activity.
- LBank reserves the right to freeze any suspected accounts and disregard any trades that we deem "wash trades" for this competition.
- LBank reserves the right to cancel or modify the competition or its rules at its discretion.