Dear LBank users,
To give back to our global communities, LBank will launch NGG (NIGGA) Order-Book Mining competitions to give away $7,000 in $NGG ( 46,666,666 NGG)!
Event Period: Aug 30th – Sep 6th, 10:00 (UTC)
Order Book Mining: Trade to Share $7,000 in $NGG
LBank takes a snapshot of trading pairs every 5 minutes, records the top 10 buy orders and the top 10 sell orders in terms of pending order volume, then calculates the earnings and distributes the rewards proportionally at the end of the event, dividing the total prize pool of $7,000 in $NGG.
| Weight of Buying Orders | Weight of Selling Orders |
| 1st: 1 | 1st: 1 |
| 2nd: 0.9 | 2nd: 0.9 |
| 3rd: 0.8 | 3rd: 0.8 |
| 4th: 0.7 | 4th: 0.7 |
| 5th: 0.6 | 5th: 0.6 |
| 6th: 0.5 | 6th: 0.5 |
| 7th: 0.4 | 7th: 0.4 |
| 8th: 0.3 | 8th: 0.3 |
| 9th: 0.2 | 9th: 0.2 |
| 10th: 0.1 | 10th: 0.1 |
Example: A buys NGG on a first pending buy order, and the value of the pending order is 10,000 USDT. If the pending order remains untraded for one day, then he could obtain the rewards as in (10000*1)/the total coefficient of the first 10 pending orders * $1000 in $NGG. B sells 100 NGG tokens on 10th pending orders, the pending price for it is 100 USDT, and the first sell order price is 2 USDT since the reward coefficient is based on the selling price. B could obtain rewards if it remains untraded, and the reward is calculated as (100*2) *0.1/Total coefficient of the top 10 pending orders * $1000 in $NGG.
⚠️Note:
- By trading NGG, users will automatically participate in the Order-Book Mining Competition activities.
- All rewards will be distributed within seven business days after the end of the activity.
- LBank reserves the right to freeze any suspected accounts and disregard any trades that we deem "wash trades" for this competition.
- LBank reserves the right to cancel or modify the competition or its rules at its discretion.
LBank Community
For any assistance, please contact us at our official email service@lbank.com. We are dedicated to providing quality, professional and prompt support.
Disclaimer: Digital assets are subject to high market risks and price volatility. The value of your investments may fluctuate, and could even lead to a loss of principal. You are solely responsible for your investment decisions, and LBank is not liable for any losses you may incur. You should invest only in products you are familiar with and understand the risks involved. You should carefully consider your investment experience, financial status, investment objectives, and risk tolerance, and consult an independent financial advisor before any investment. Past performance is not a reliable indicator of future performance. Content on the LBank platform does not include advice or recommendations, and should not be construed as financial advice.
LBank reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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