PRESS RELEASE. LBank’s latest Launchpad project, EchoLink, has sparked significant excitement in the cryptocurrency market with its initial trading on LBank today. EchoLink began trading on January 26, 2024, at a price of $0.01, and astonishingly, within just the first 30 minutes, its price surged to $0.0763. This represents an incredible 763% increase from its Launchpad starting price.
The Launchpad drew the attention of up to 74,164 participants, accumulating investments over 130 million US dollars. EchoLink’s innovation marks a significant advancement in the Web3 sphere, especially in the DePIN IoT device sector. This Launchpad has once again yielded substantial profits for early investors, highlighting the importance of understanding both this Launchpad event and the EchoLink project. EchoLink, tailored as an IoT oracle for DePIN IoT devices and deployed on Solana, has become today’s highlight in the crypto community.
Launchpad Pricing Details
On January 17, 2024, LBank initiated a subscription quota to facilitate equitable participation for every investor. This Launchpad is topped with a hard cap, and participants who reached the maximum allowed subscription invested 50,000 EchoLink tokens.
Tokenomics and Use Cases
The total initial supply of EchoLink tokens is set at 1 billion, with a distribution strategy that includes allocations for IEO, marketing, team, ecosystem operation, and more. EchoLink tokens are used for various purposes, including governance, staking, and accessing advanced features within the EchoLink ecosystem.
Launchpad Mechanics
The EchoLink Launchpad on LBank was characterized by its well-designed participation rules, ensuring fair and equitable access. Over the 7-day period from January 17 to January 24, 2024, LBank meticulously monitored user balances across various accounts, establishing investment quotas based on these averages. The eligibility criteria required users to engage in at least one trade on LBank during this period.
About EchoLink
EchoLink is an innovative DePIN-oriented IoT oracle deployed on Solana, tailored for the burgeoning world of DePIN IoT devices. It offers a comprehensive toolkit – a fusion of software SDK and hardware design – aimed at becoming the infrastructure for more DePIN projects.
About LBank
As a prominent cryptocurrency exchange, LBank has positioned itself as a reliable and innovative platform catering to the diverse needs of traders and investors globally. Renowned for its commitment to excellence, transparency, and user-centric features, LBank continues to shape the landscape of digital asset exchange. From fostering seamless transactions to staying at the forefront of market trends, LBank stands as a trusted gateway to the dynamic world of cryptocurrencies, providing users with unparalleled opportunities and a secure trading environment.
For media inquiries, please contact:
Eddy Wang
PR Manager, LBank
Email: eddy.wang@lbank.com
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