By CryptoDaily - 3 months ago - Reading Time: 3 minutes
EchoLink Launchpad on LBank Ends with Over 130M USDT in Investment, $ECHO Set for Listing
Hong Kong, Hong Kong, January 25th, 2024, Chainwire
Following the triumph of its third Launchpad initiative with ACGN Protocol, LBank has accomplished yet another milestone by concluding its fourth Launchpad event featuring EchoLink.
This innovative project marks a significant breakthrough in Decentralized Physical Infrastructure Networks (DePIN) and the Internet of Things (IoT) sectors. EchoLink leverages a unique Proof of Device Work (PoDW) mechanism, revolutionizing data interaction. The event successfully raised 130,425,381 USDT from 74164 participants, underscoring the escalating interest in this dynamic sector.
The native token of EchoLink.Network, $Echo, is set to debut on LBank and commence trading on January 26th at 06:00 (UTC), symbolizing a pivotal moment for this burgeoning ecosystem.
Background and Significance
EchoLink, a DePIN-oriented IoT oracle on the Solana blockchain, acts as a transformative gateway for a multitude of IoT devices. Beyond being a bridge, it amplifies device capabilities, capturing, measuring, and validating work through an innovative PoDW mechanism. This transcends conventional approaches, reshaping data interaction fundamentally.
Central to EchoLink is its commitment to data privacy and security. Utilizing Zero-Knowledge/FHE technologies, the project cloaks data, ensuring integrity when reaching oracle nodes. These nodes, equipped with EchoLink's unique proof mechanism, assess rewards for each device unit seamlessly, bridging effort to value.
EchoLink provides a comprehensive toolkit, merging software SDK and hardware design, laying the groundwork for diverse DePIN projects. It represents more than infrastructure; it's the foundation for future IoT blockchain integration, advancing towards a world where data flows securely, and reward systems align with genuine contributions.
Participation Rules for $ECHO
Participation rules for the $ECHO Launchpad mirrored the successful model of prior events. LBank calculated investment quotas based on users' daily average holdings of mainstream cryptocurrencies across various accounts over a specific period. Eligibility required completing at least one trade on LBank within a designated time frame.
Official Statement and Listing Details
An LBank spokesperson acknowledged overwhelming community engagement for EchoLink. The $ECHO Launchpad rules strategically rewarded active users, drawing from prior successes. Official listing details for $ECHO are as follows:
Token Distribution Time: January 25th, 13:00 (UTC)Trading Time: January 26th, 06:00 (UTC)Withdrawal Time: January 28th, 06:00 (UTC)About EchoLink ($ECHO)
EchoLink, a pioneering project in DePIN and IoT on the Solana blockchain, bridges the physical and digital worlds. The PoDW mechanism transforms data interaction, ensuring privacy and security. It's a step towards a decentralized future, fostering a transparent and community-driven ecosystem.
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.
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Original source: CryptoDaily