Dear LBank users,
LBank is excited to announce a project on LBank Launchpad: ECHO. The token sale for ECHO will follow the Launchpad subscription format. LBank will record users’ mainstream cryptocurrency balances (BTC, ETH, USDT, LBK, XRP, TRX) for 7 days (Spot, Futures, & Earn account), and the final holding amount for each user will be determined as the average of the 7 days.
Snapshot Period: 16:00 on January 17, 2024 - 06:00 on January 24, 2024 (UTC)
Participation conditions：
1. Users must have engaged in at least one trading activity on LBank during this period.
2. The positions that meet any of the following conditions at the snapshot time are used for quota calculation:
BTC ≥ 0.023
ETH ≥ 0.4
USDT ≥ 1000
LBK ≥ 104550
XRP ≥ 1720
TRX ≥ 9090
*The Futures account takes a snapshot of users' principals, excluding futures bonus.
ECHO Token Sale Details:
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Token Name: ECHO
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Total Tokens Allocated to LBank Launchpad: 10,000,000 ECHO (1% of total token supply)
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Hard Cap Per User: 50,000 ECHO
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Total Token Supply: 1,000,000,000 ECHO
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Public Sale Token Price: 1 ECHO = 0.01 USDT
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Token Sale Format: Subscription
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Supported Sessions: USDT
Subscription Timeline: (UTC)
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Holding Calculation Period: 2024-01-17 16:00 (UTC) to 2024-01-24 06:00 (UTC): During this period, user BTC, ETH, USDT, LBK, XRP and TRX balances will be calculated in hourly snapshots for each day over a 7-day period. Your final average daily balance over these 7 days will determine the maximum amount of USDT that you can commit later on.
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Subscription Period: 2024-01-25 06:00 (UTC) to 2024-01-25 11:00 (UTC): Subscription will open at this time for all eligible users for 5 hours. Users must also sign the Token Purchase Agreement at the same time prior to committing their USDT. Please note that once committed, your USDT will be deducted.
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Calculation Period: 2024-01-25 11:00 (UTC) to 2024-01-25 13:00 (UTC): Subscription closes and token allocation calculation begins.
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Distribution: 2024-01-25 13:00 (UTC): The token distribution results will be announced, and ECHO tokens, as well as any remaining USDT, will be distributed to users' spot wallets.
About ECHO:
EchoLink is a blockchain oracle deployed on the Solana designed for DePIN IoT devices. It bridges and extends a variety of IoT devices, collecting, measuring, and verifying their workload through a unique proof mechanism to generate credible data reports. This data is encrypted with Zero-Knowledge Proof and sent to Oracle nodes, which evaluate the rewards that can be earned by each device unit. EchoLink also offers a comprehensive software SDK plus a hardware design combination, aimed at becoming the infrastructure for more DePIN projects.
Website: https://echolink.network/
Whitepaper: https://echolink.network/Echolink_Litepaper.pdf
X (Twitter)： https://twitter.com/echolink_oracle
Medium： https://medium.com/@echolink
Reminder: Users must complete their account verification and be from an eligible jurisdiction to participate in this token sale.
* Users from the following countries or regions will not be able to participate in token sales on the LBank Launchpad platform:
Belarus, Cuba, Crimea Region, Democratic Republic of Congo, Iran, New Zealand, North Korea, South Sudan, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the U.S. Virgin Islands), Zimbabwe, and China.
LBank Community
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If you have problems, please contact LBank official email: [email protected], and we will provide sincere, friendly and immediate service. We also welcome you to join LBank official English community to discuss the latest issue (Telegram): https://t.me/LBank_en.
Risk Warning: