LBank to Launch Special Sale with CDB

Dear LBank Users：

 

To benefit LBK community, LBank will launch the CDB Special Sale on Sept 15. In this round of sale, CDB equivalent to 100,500 USDT will be sold. The LBK Special will be able to share a special quota equivalent to 80,400 USDT, the Welfare Special will be able to share a quota equivalent to 20,100 USDT.

 

Subscription time：16:00-18:00 on Sept 15, 2020 (UTC+8)

Purchase Supply：335,000 CDB

Subscription Currency：USDT

Subscription Mode: weighted average allocation

Participation Condition: Users need to complete the KYC Verification.

Trading Enable:  CDB/USDT trading will be opened at 18:00(UTC+8) on the Sept 16. 

Purchase Price Algorithm: 1 CDB = 0.3 USDT

CDB 101 Repurchase: the CDB foundation commits to a "101 repurchase period" within 72 hours of the launch of the transaction. The repurchase shall be conducted by placing orders on the secondary market at 101% of the selling price.

Repurchase Cycle: 2020.09.16 18:01-2020.09.19 18:01 (UTC+8) 

* Note:  the repurchase will only be carried out in this period of time.

 

1、LBK Special

Purchase Limit: LBK community will be able to share a special quota equivalent to 80,400 USDT. The subscription quota will be set according to the amount of LBK (spot) held by the user within the specified time. Users who do not hold LBK cannot participate. The number of LBK positions held by the user is calculated based on the average number of LBK held within the specified snapshot time.

Below is the reference table between LBK average holding amount and subscription amount:  

Average LBK Holding Amount (h)	Subscription Amount (USDT)	Holding Days (Day)
100k <= h < 200k	300	14
200k <= h < 500k	720	14
500k <= h < 700k	2,100	14
700k <= h < 1M	3,300	14
1M <= h < 1.5M	5,400	14
1.5M<= h < 2.2M	9,000	14
2.2M<= h < 3M	15,000	14
h>=3M	22,000	14

Snapshot Cycle of LBK Holding: From 00:00 on Sept 1 to 00:00 on Sept 15, 2020 (UTC+8) 

Daily Snapshot Time: Snapshot will be taken at random times during the specified period.

 

2、Welfare Special

Purchase Limit: Users who complete the KYC Verification can share a special quota equivalent to 20,100 USDT, which does not conflict with LBK Special. The maximum subscription limit for one user is 300 USDT.

 

Trading Pair: CDB/USDT

Trading Open: 18:00 on Sept 16, 2020 (UTC+8)

Deposit Enable: 18:00 on Oct 1, 2020 (UTC+8)

Withdrawal Enable: 18:00 on Sept 16, 2020 (UTC+8)

 

Subscription Results:

LBank will announce the subscription result within two hour after the end of the subscription. The USDT for subscription will be deducted. The actual subscription amount will be calculated within 1 hour and the following processing will be completed:

1 Deduct the USDT from the actual subscription;

2 Return the rest of USDT except for the deducted USDT;

3 Complete the distribution of the subscribed token.

 

Calculation:

The actual subscription amount of an account = (the effective subscription amount of the account) / (the total subscription amount of the whole platform on the same day) * (the total amount of token available for sale on the same day)

 

About CDB

Cloudbit Token (CDB) was conceived as a cryptocurrency exchange service. There was a fundamental need for a global transactions digital tool that could strengthen human relationships and connectivity. This allows people not to be marginalized by governments and financial institutions. In addition, the Cloudbit Token points a new path towards to the digital future. Investors can use services to divide their investments between various services like P2P loans, crowdfunding, crypto exchange services, etc.

 

CDB Website：https://cloudbitex.eu/

CDB White Paper：https://cloudbitex.eu/wp-content/uploads/2020/07/Whitepaper_Cloudbit_Token_v1.4a.pdf

 

⚠️Notice:

Users need to complete KYC Verification and the following countries & regions are not supported in this event: Belarus, the Republic of the Congo, Iran, mainland China, Iraq, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, northern mariana islands, Puerto Rico and United States virgin islands), Zimbabwe.

 

* 「CDB Special Sale」 is a high-risk investment method, investors should participate rationally and guard against investment risks. LBank is not responsible for any investment behavior such as guarantee, compensation, etc.;

* The final interpretation of the activity belongs to LBank.