LBank to Launch LBK Solar — QNUT Token Sale BTC Special LBank.io Follow Mar 14 · 4 min read

Dear LBank users:

LBank will launch a new cycle of the Solar sale — QNUT (NUTS Finance), and launch LBK Special and BTC Special (1 BTC = 10000 USDT) respectively. The BTC Special will take 10000 USDT as the purchase price by which users can purchase the current QNUT using the past BTC price. The LBK Special will set the subscription quota based on LBK position quantity, and finally adopt the method of weighted average. LBank will allocate the subscription quota according to the average LBK position held by users within 30 days & 3 days (take the high value of both).

Sale Time

This Sale will start at 14:00 on March 23 (UTC+8) and end at 17:00 on March 23, 2020 (UTC+8).

Details about Solar QNUT (NUTS Finance)

1. Token Name: QNUT

2. Token Amount: 210,000,000 QNUT

3. Solar Quota of BTC Special: 1,000,000 QNUT

4. Subscription Token: BTC

5. Subscription Ratio: 1 BTC = 100,000 QNUT

6. Subscription Model: Everyone can participate (weighted average).

7. Lockup Token release

10% of the Tokens of the subscription amount will be released by default before trading and the remaining 90% will be locked. Locked tokens will be released every 24 hours. The details are as follow:

If a user’s holding amount in the first 24 hours >= the initial release amount, release amount on the current day of the user = 25% * the user’s holding amount in the first 24 hours.

If a user’s holding amount in the first 24 hours < the initial release amount, release amount on the current day of the user = 0.5% * the total subscription amount.

* Daily Snapshot: the snapshots will be taken at random times of every day within 24 hours by LBank and take the minimum position as the base calculation for release on the next day. Daily Token release time is 20:00.

For example, A subscribed for 10,000 QNUT in this Solar sale, the released by default before listing on the exchange is 10,000*10%=1,000 QNUT. The first day of listing on the exchange, A increased 9,000 QNUT through the secondary market transaction. So, the release that A can get at the next day is (1,000+9,000)* 25%=2,500 QNUT.

B subscribed for 10,000 QNUT in this Solar sale, the released by default before listing on the exchange is 10,000*10%=1,000 QNUT. The first day of listing on the exchange, B decreased 1,000 QNUT through the secondary market transaction. So, the release that B can get at the next day is 10,000* 0.5%=50 QNUT.

BTC (1 BTC = 10000 USDT) Special

Participation Condition: Users need to complete KYC Verification and prove that you had 1 BTC before March 12. One of the following ways can be selected (Not limited to LBank platform, any platform is accepted):

1. Before March 12, the transaction records with the cumulative BTC purchase quantity equal to or more than 1 BTC;

2. After March 12, the transaction records with the cumulative BTC sold quantity equal to or more than 1 BTC;

3. Before March 12, the records of a single BTC deposit order with a amount equal to or more than 1BTC;

4. Before March 12, the records of a single BTC withdrawal order with a amount equal to or more than 1BTC;

5. Before March 12, the records with the cumulative BTC purchase quantity through C2C equal to or more than 1 BTC;

6. Before March 12, the records with the mined BTC quantity equal to or more than 1 BTC;

Other provable contents are also acceptable. Please submit the above proof through the FORM.

Subscription Ratio: No matter how much the BTC price is, all BTC used by users to pay for this sale will be priced at 10,000 USDT.

Calculated Method

Actual Subscription Amount by Users = (Users’ Valid Subscription Amount) / (The Total Subscription Amount) * (The Total Token Amount for Sale on the Current Day)

Trading Time: 19:00, March 23, 2020 (UTC+8)

Trading Pair: QNUT/USDT

About Nuts

NUTS Platform is an open source technology framework developed by NUTS Finance that supports financial service providers to distribute a wide range of financial products on blockchain public chains (such as Ethereum and QuarkChain).

NUTS Finance is committed to building plug and play technology solutions that make it easy to distribute a wide range of financial products on the block chain. NUTS Platform enables financial service providers of all types to simplify the distribution process and further diversify the financial products on the blockchain network.

More information about Nuts please check Nuts Website.

⚠️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.

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