Crypto exchange LBank has launched a joint campaign with Pudgy Penguins, the Web3-native NFT and merchandise brand, offering a combined prize pool of 500,000 USDT. The campaign, which went live August 7, spans futures trading, spot markets, lucky draws, leaderboard competitions and locked savings products, and marks LBank's first branded collaboration with the Pudgy Penguins IP.
LBank says the partnership makes it the first crypto exchange to work with Pudgy Penguins in this capacity, positioning the tie-up as a way to connect the exchange's roughly 25 million global users with one of the more recognized brands to have crossed over from NFTs into broader consumer culture.
How the rewards break down
New users are the main target of the campaign's largest allocation: a dedicated 120,000 USDT pool offers a 10 USDT Futures Bonus for completing registration and an initial deposit, plus an additional 5 USDT for users who go on to complete a first spot or futures trade meeting minimum volume requirements.
Existing active traders have separate incentives. A lucky draw gives eligible users up to seven chances to win prizes including 1 BTC, Pudgy Penguins merchandise, and additional Futures Bonuses. LBank is also running four futures trading leaderboard competitions with weekly USDT payouts capped at 500 USDT per user, alongside 30-day Locked Earn products offering Interest Boost Coupons with advertised yields of up to 100% APR.
Part of a broader IP-partnership strategy
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"The real value of a Web3 community is not measured by a single market cycle, but by its ability to remain relevant, resilient, and connected with people over time," said Eric He, LBank's Community Angel Officer and Risk Control Adviser, in the official campaign announcement.
The Pudgy Penguins tie-up follows a pattern for LBank, which has previously run similar branded promotions with other Web3-native IPs including Ponke, Nobody Sausage and Yeti. The strategy reflects a broader trend among mid-size exchanges of using recognizable NFT and meme-adjacent brands to drive new-user acquisition, betting that cultural relevance can do some of the marketing work that pure trading-fee incentives can't.
