Dear LBank users,

 

LBank will launch ZOE Grid Trading Campaign Round 2 to give away a reward pool of 246,920 ZOE to qualified LBank users.

 

Activity Time: Oct. 29, 00:00 - Nov. 27, 24:00 （UTC+8）

Total Reward: 246,920 ZOE

Grid Liquidity mining trading pairs: ZOE/USDT

 

Activity Rules:

 

  1. Trading Volume Pool is 74,076 ZOE

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: 2469.2* 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 Trading Volume Prize Pool is 49,384 ZOE

Users who rank the top three in actual trading volume will share 1,646.13 ZOE each day.

First place: 987.678 ZOE 

Second place: 493.839 ZOE 

Third place: 164.613 ZOE

 

  1. The total liquidity prize pool is 74,076 ZOE

The rewards will be distributed according to the proportion of actual pending orders (USDT + ZOE 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 liquidity rewards totaling 49,384 ZOE

Users who rank the top three in pending orders will share 1,646.13 ZOE each day.

First place: 987.678 ZOE 

Second place: 493.839 ZOE 

Third place: 164.613 ZOE

 

 

Activity Statements:

  1. Users shall use USDT + ZOE 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 prices, 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 ZOE tokens) and all users invested 10,000 USDT (USDT + ZOE 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 2469.2*0.04=98.768 ZOE. (Time-weighted bonus if participated continuously.)
  2. Liquidity pool reward of 2469.2*0.1=246.92 ZOE. (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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