【Event】 The mysterious event of LST has been unveiled

Dear respected Hotbit users:

In celebration of the 10-times consecutive increase in LST price since the listing of LST on Hotbit exchange, LST project team and Hotbit exchange are excited to announce the major upgrade of the ranking competition on LST transaction volume!

We are excited to unveil our mysterious event – Ranking Competition on LST Token Destruction! We hereby sincerely invite all of you to join the event!

Rules and Regulations

Ranking Competition on LST Transaction Volume (Upgraded!)

Previous duration of the event: 15:00, April 18^th, 2019 – 15:00, July 18^th, 2019 (UTC+8)

After the upgrade, the duration of the event has been extended until 15:00, July 22^nd, 2019 (UTC+8)

All other rules and regulations of the event will remain the same, the detailed rules and regulations are as follows:

- During the event, we will rank all users based on their LST transaction volumes (Buy + Sell Volumes of LST)

- The top 10 users on the ranking chart will receive rich LST rewards.

** The system will conduct snapshots regarding the volume of LST held by all users on 12:00, July 25^th, 2019. In order to claim their rewards of the competition, the top 10 users must also guarantee that the volume of LST they hold in their accounts reflected by the snapshots shall be no less than 1,000,000 LST.

Mysterious event: Ranking Competition on LST Token Destruction 

Rules and Regulations:

- Duration: 12:00, July 1^st, 2019 – 12:00, July 10^th, 2019 (UTC+8)

-All relevant LST tokens will be calculated and destructed based on the data generated from the ranking competition on LST transaction volume

-The volume of LST tokens to be destructed will be the average transaction volume of the total transaction volumes generated by the top 10 users of the ranking competition on LST transaction volume (LST Buy + LST Sell Volumes).

Detailed Method of Calculation:

*The total volume of LST to be destructed everyday will be determined by the data of the 24-hour ranking positions of the previous day

*Total volume to be destructed = (the transaction volume of the user who are ranked No. 1 + the transaction volume of the user who are ranked No. 2 +…+ the transaction volume of the user who are ranked No. 10) / 10

-All relevant LST tokens will be destructed once everyday by 12:00 noon.

-All destructed LST tokens will be transferred into the black hole address:

0x6800000000000000000000000000000000000000

Note

1. The list of all winners will be published within 7 business days after the event terminates.
2. The distribution of all rewards will be finished within 10 business days after the event terminates.
3. If we detect any cheating activities such as click farming, Hotbit is entitled to disqualify all relevant users involved from claiming their rewards.
4. Hotbit reserves the rights on the final explanation and interpretation of all rules and regulations of the event.

 

Risk Warning

The investments in cryptocurrency assets involve high risks. The investors are understood to undertake relevant risks regarding the fact that the price of any of their token(s) invested might decline to zero. Please do conduct investment activities cautiously according to your own investment capabilities. Hotbit does not endorse any cryptocurrency assets. All relevant introductions of relevant cryptocurrency assets are sourced from third parties, and that certain errors and omissions might occur.

We hope you enjoy trading on Hotbit!

Hotbit Team

2019.6.30