Recently, GIBXSWAP, the world’s top digital asset trading platform, launched LBank and reached a strategic partnership, which will provide more possibilities for smart contracts, electronic wallets, and public chains in the LBank blockchain project.

One is technology and community, and the other is ecology and market. The combination of the two will explore a unique path for blockchain security. This is the core layout of GIBXSWAP to create a benign blockchain security ecology; this cooperation between the two parties, combining their own advantages and combining strong forces, has a profound impact on the healthy development of the blockchain industry.

LBank is a distributed community autonomous trading platform with the community as the core and POB mechanism as the consensus. Community opinion leaders, top media, and blockchain research experts provide media resources and regional influence for online projects. It can enjoy the rights of a community-wide fee reduction and exemption.

GIBXSWAP is a decentralized transaction protocol based on an automated market-making mechanism, which aims to integrate the differentiated advantages of multiple basic public chains. The core point is to avoid the various drawbacks of decentralization to achieve the advantages of decentralization, to create a high-performance composite DEX ecosystem, and to maximize the rewards of participants with the “dual mining incentive” of liquidity mining and transaction mining. And through the fee repurchase and destruction mechanism, a self-driving value capture ecological closed loop has been realized.

Furthermore, GIBXSWAP recently launched a new decentralized currency “X”. The new currency is the core token of the GIBXSWAP platform, which can be used for voting, repurchasing, fundraising, trading, and earning coins. The emergence of “X” is mainly due to the gradual increase in the circulation of the original GUSDT market, and the market value urgently needs a larger carrier to achieve breakthrough growth; the market needs a new currency to stimulate it. The maximum supply of “X” is 1 billion, and the block reward: each block rewards 20 “X”s. The “X” open-source code is audited by professional organizations such as Ernst & Young and Deloitte, ensuring safety. At the same time, “X” supports the decentralized cross-chain transaction protocol of BSC, HECO, and ETH, and uses “dual mining incentives through liquidity mining and transaction mining”, which allows participants to obtain the greatest return and seamlessly integrate with the currency. Anhe Huobi has huge global traffic and head resources.

To trade two tokens, users utilize GIBXSWAP, an automated market maker (AMM). Liquidity providers (“LP”) deposit their tokens in the liquidity pool to offer liquidity to the exchange. Instead of receiving LP tokens, users will get pledgeable “X” tokens, which they can utilize to gain more tokens in the “pool.”

When users perform token swaps (transactions) on the exchange, a 0.3% transaction fee will be charged, as follows:

• 0.15% is returned to the liquidity provider in the form of a fee reward
• 0.10% deposited in the national treasury
• 0.05% for the burning of X tokens

The newly launched GIBXSWAP will open liquidity mining, transaction mining, asset cross-chain functions and will implement a board of directors’ mechanism. The GIBXSWAP board of directors’ mechanism pledges designated LP and a single currency and can divide “X” according to the proportion of locked position. “X” will have a complete repurchase mechanism. Every quarter, part of the GIBXSWAP platform profits will be used for repurchasing and airdrop “X”. The repurchased “X” will be directly destroyed, and the repurchase record will be announced as soon as possible. Users can query through the blockchain browser to ensure openness and transparency; the “airdrop” part will be allocated according to the weight of each pool, and then dug out according to the proportion of the locked position. In other words, “X” is a deflationary currency. With deflation and high liquidity, you can earn passive income by holding the currency.

X (GIBXSWAP) will be launched on LBank at 21:00 on September 23, 2021 (UTC+8). The details are as follows:

Trading pair: X /USDT

Deposit activation: September 23, 2021, at 15:00 (UTC+8)

Trading opening time: 21:00, September 23, 2021 (UTC+8)

Withdrawal enabled: September 24, 2021, at 15:00 (UTC+8)

The launch of GIBXSWAP on LBank will adhere to the development trend of follow-up imitation and integrated innovation. In order to meet the basic needs of the market, both transactions, the establishment of liquidity pools, and liquidity mining will be fully deployed committed to making GIBXSWAP a DEX benchmark.