Lucky Block, the innovative new crypto-lottery platform, has now officially launched on PancakeSwap after the platform’s presale sold out over two weeks earlier than anticipated.
Nearly $6m (£4.42m) was raised through Lucky Block’s presale from a total of 9000 token holders. Lucky Block was not scheduled to list on PancakeSwap until February, yet developers decided to push the listing forward as demand from investors ramped up.
Now that you can buy LBLOCK on PancakeSwap, investors will be hoping that the token’s value increases thanks to the platform’s compelling use cases and strong roadmap. Furthermore, as Lucky Block already has a strong community backing of over 18,000 members in its Telegram group, there’s certainly scope for further buzz to be created in the weeks ahead.
Lucky Block – What is it?
So, what is Lucky Block? Lucky Block is a crypto-lottery platform offering a novel take on traditional lottery draws. The Lucky Block platform is hosted on the Binance Smart Chain and leverages blockchain technology to provide entrants with a much better user experience.
As geographical barriers are removed, Lucky Block’s lottery draws are open to anyone – paving the way for more frequent prize draws and bigger jackpots.
According to the whitepaper, the Lucky Block ecosystem is built around LBLOCK, which is the platform’s native token. LBLOCK plays a vital role, as it’s used to purchase lotto tickets and pay transaction fees.
What’s more, a portion of all fees collected is distributed back to token holders, much like a dividend. So, by simply owning and holding LBLOCK, investors can generate a passive income stream.
The hype around Lucky Block’s launch has ramped up in recent weeks, as numerous media outlets (such as The Herald and The Economic Times of India) have reported on this exciting crypto project.
The future certainly looks bright for Lucky Block, as the official website details a compelling roadmap that involves the creation of Lucky Block merchandise, metaverse integration, and even minting Lucky Block NFTs!
Lucky Block is now officially available on PancakeSwap
Now that LuckyBlock has officially launched on PancakeSwap, investors can easily buy and sell the token from their computer or smartphone. PancakeSwap is a decentralised exchange (DEX) that allows users to trade BEP-20 tokens on the Binance Smart Chain.
According to CoinMarketCap, PancakeSwap regularly handles over $7m in daily trading volume. Trades are facilitated through the use of ‘liquidity pools’, to which users can lend their tokens and generate a return in the process.
These lenders provide the liquidity needed for buyers to enter the market and purchase tokens. Since PancakeSwap is decentralised, there is no requirement to complete extensive KYC checks before using the platform. All that’s required is a crypto wallet with functionality to store BEP-20 tokens and some Binance Coin (BNB), the most straightforward token to exchange for LBLOCK.
Overall, now that LBLOCK trading is live, market forces will dictate where the token’s price goes. Token holders will be hoping that the buzz around the project, combined with the exciting use cases, causes the price to go higher – generating positive returns in the process.
Only time will tell whether this happens. However, if you’d like to learn more about the Lucky Block project, you can read about it on the platform’s official website. You can also view the platform’s audit, completed by SolidProof.io – one of Germany’s leading blockchain security experts.