Road Town, BVI, August 31st, 2023, Chainwire
LBank recently concluded its Initial Exchange Offering (IEO) for the PINs Network project. The event secured a total investment of 51,556,343 USDT from 34,587 participants. This development followed a period of increased activity on LBank, largely due to the IEO’s specific participation rules.
Earlier in the year, LBank reported a 4.6% market share, placing it in the 5th position for spot trading volume according to CMC data. Additionally, earlier in the year, the platform established a significant presence in the MEME coin sector, reaffirming its position in the cryptocurrency ecosystem. Retrieved from：https://news.bitcoin.com/unpacking-lbanks-success-a-strategic-approach-to-meme-coins-and-the-crypto-market/
The IEO participation rules for PINs were based on a user’s daily average holdings of coins, such as BTC, ETH, USDT, and LBK. LBank monitored user balances across Spot, Futures, and Earn accounts over a 30-day period, and investment quotas were set based on this 30-day average. Additionally, eligibility required users to complete at least one trade on LBank within this time frame. As a result of these rules, the platform noted a rise in spot holdings, contract positions, earn account, and transaction volumes.
An LBank representative commented, “Our user community is central to our operations. The rules for the $PINS IEO were set to ensure active and asset-holding users have an opportunity to participate. We appreciate the enthusiastic participation and support from our users. Please stay tuned for the upcoming PINS listing and related events.”
Upon concluding the session, LBank provided the following listing details for $PINS:
Token distribution time: 31st Aug, 1 PM (UTC)
Trading time: 1st Sep, 6 AM (UTC)
Withdrawal time: 4th Sep, 6 AM (UTC)
PINs Network is a content social network that uses multi-role-playing to create plot-driven metaverses and bring historical and cultural attributes to the community. In PINs Network, there are countless verses, and each verse is equivalent to a virtual world where people can play multi-roles and engage in diverse behaviors.
About LBank
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.
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Source: https://cryptodaily.co.uk/2023/08/lbanks-pins-ieo-ends-with-51556343-usdt-in-investments-pins-network-pins-will-be-listed-in-the-lbank-innovation-zone