Taking pride as a leading digital asset trading platform, LBank has unveiled its highly anticipated LBK Voting Listing solution with a view to enhancing the LBK ecosystem and offer lucrative listing opportunities to widescale projects. The winner of the voting list will enjoy listing on the exchange platform for free. There are a total of ten projects that will be taking part in the LBK Voting Listing program.
As per the official announcement, the first LBK Voting Listing will initiate at 14:00 on November 4, 2019. The rules for the process are explained below, have a look:
- Voting Time: November 4th 14:00 – November 18th 14:00
- Voting Currency: LBK
- Method of Voting: The platform will give a fair chance to the users to vote through LBK for any of the projects listed on the platform. Also, the users can cast multiple votes as there is no maximum limit set for the number of votes which can be cast by an individual user.
- Voting Time: The duration of a day begins from 14:00 of the previous day and ends at 14:00 of the present day
- Basis of Evaluation: The project standing at the top with the maximum votes shall be deemed to be selected by the LBK community and will be listed for free on the exchange.
- Rewards: The project which will be declared as the winner will airdrop a certain number of tokens to the accounts of the voters who gave their votes in its favor. The reward amount will be announced before the voting gets started.
- Voting Condition: The LBK utilized for voting will be frozen during the process and will be returned within three days after the ending of the voting mechanism.
- Tips: The LBK locked during the voting will be determined by the snapshot position. The LBK speed will not be slowed by the voting lockup.
The Airdrop Reward Process
The airdrop token reward shall depend upon the users’ voting time and the proportion of the votes in comparison to the total votes being cast in favor of the winning project. The formula that will be used for the calculation of the reward token will be: total airdrop rewards user obtains through voting = total token rewards amount of airdrop * (LBK voting number * LBK lockup date) / (daily total increased voting number * LBK lockup date). The person who will cast a vote earlier will be subjected to a higher weightage and better reward.
Some Projects Participating in The LBK Voting Listing Cycle
- DNA- The firm that focuses its efforts towards the gene industry
- BIBO- It is a community where members share benefits and communication opportunities in the blockchain niche
- ARRR- It offers a reliable and efficiently secured private cryptocurrency and blockchain
- RDD- It works as a social network tipping cryptocurrency which also allows content creation and aids micro-donation
- NULS- It serves as a user-friendly blockchain infrastructure platform that operates under the guidance of a global open-source community