Last Update 08/07/2022
Lucky block, the innovative new crypto lottery service, has now officially launched on PancakeSwap after the platform's presale stage sold out more than two weeks earlier than expected.
Nearly $6m (£4.42m) was raised through Lucky Block presale from a total of 9000 token holders. The listing of Lucky Block on PancakeSwap was only scheduled for February, but the developers decided to bring the listing forward as investor demand increased.
Now that LBLOCK is freely traded on PancakeSwap, investors will hope that the token's value will continue to rise thanks to the platform's compelling usage results and strong roadmap. In addition, since Lucky Block already has a strong community of over 18.000 members in its Telegram group, there is certainly room for further buzz to be created in the coming weeks.
What is Lucky Block?
So, what is Lucky Block? Lucky Block is a crypto lottery platform that offers a new take on traditional lottery draws. Lucky Block platform is hosted on the Binance Smart Chain and uses blockchain technology to provide participants with a much better user experience.
As geographic barriers are removed, Lucky Block's lottery draws are open to everyone – paving the way for more frequent prize draws and bigger jackpots.
According to the whitepaper is Lucky Block ecosystem built around LBLOCK, which is the platform's native token. LBLOCK plays a vital role as it is used to buy lotto tickets and pay transaction fees.
At Lucky Block, a portion of all fees collected is returned to the token holders, just like a dividend. So, by simply owning and holding LBLOCK, investors can generate a passive income stream.
The hype surrounding the Lucky Block launch has increased in recent weeks as numerous media outlets (such as The Herald and The Economic Times of India) 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 has officially launched 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 decentralized 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. Trading is 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 buy tokens. Since PancakeSwap is decentralized, there is no need to perform extensive KYC checks before using the platform. All it takes is a crypto wallet with functionality to store BEP-20 tokens and some Binance Coin (BNB), the easiest token to exchange for LBLOCK.
Now that the LBLOCK is live, market forces will dictate where the price of the token will go. Token holders hope that the advertising around the project, combined with the already proven applications, will drive the price higher and generate a positive return.
Only time will tell if this happens. However, if you want to know more about the Lucky Block project, you can read more about it on the official website from the platform. You can also view the platform audit completed by SolidProof.io – one of Germany's leading blockchain security experts.