Last Update 08/07/2022

Crypto lottery service Lucky block launches on PancakeSwap, following a successful presale phase in which the assigned token sold out two weeks before the scheduled date. In addition to existing applications, Lucky Block offers a variety of benefits to investors who keep their tokens.

To discover these advantages, this article will discuss what Lucky Block is and then highlight the numerous reasons why investors might want to hold the Lucky Block crypto in the longer term.

What is Lucky Block?

First, let's briefly discuss what Lucky Block is. Lucky Block is an emerging crypto lottery service hosted on the Binance Smart Chain that will transform and enhance traditional lottery draws.

By making these draws using blockchain technology instead of traditional 'offline' systems, Lucky Block aims to significantly increase transparency and fairness. Moreover, anyone in the world can participate in the daily lottery draws, Lucky Block will provide bigger and more frequent prize payouts to the users of the platform.

The platform's own token, LBLOCK, plays a vital role in the Lucky Block ecosystem. lottery tickets are purchased using the token, with prizes also being paid out to winners in LBLOCK – allowing for fast jackpot payouts.

As mentioned above, Lucky Block's presale sold out much faster than expected, prompting the developers to push the token's PancakeSwap listing by two weeks to Wednesday, January 26. Now Lucky Block has over 19.000 members in its Telegram group, there will likely be a significant uproar once the token goes live.

Why Invest in Lucky Block Crypto?

From an investment perspective, Lucky Block's developers have built in numerous benefits, making owning LBLOCK a great way to generate long-term returns. As mentioned in the Lucky Block whitepaper, 10% of each jackpot will be paid out to holders as a 'reward', another 10% will be donated to charity, and 10% will go to Lucky Block for marketing and project expansion.

Lucky Block users who own LBLOCK in a crypto wallet connected to the Lucky Block app will automatically receive rewards directly through the app – meaning the process requires no manual input from token holders!

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These rewards are much like dividends, which are paid by companies to shareholders as a "thank you" for holding the company's stock. Lucky Block's developers will offer LBLOCK holders similar payments, which will increase as the number of people participating in each lottery increases.

Ultimately, this is one of Lucky Block's main priorities – increasing the number of people who participate in the platform's lottery draws in order to increase jackpot amounts and boost dividend payouts for LBLOCK holders.

To help boost the platform's user base, Lucky Block's developers have their sights set on listing LBLOCK on major centralized exchanges (CEXs) in the future. These include OKEx, Crypto.com, KuCoin, and even Binance!

Once LBLOCK goes live on PancakeSwap on January 26, the increased liquidity will provide investors with an easy way to buy Lucky Block from the comfort of their own home. Lucky Block's developers expect a daily trading volume of $150.000 by the end of January, which is undoubtedly achievable given the strong community support for the token and mentions from mainstream media such as The Herald.

In addition, the developers also estimate that between 25.000 and 50.000 people will own LBLOCK by the end of March 2022 – providing a solid investor base that will help drive jackpots and dividend payouts.

Lucky Block Dividends – How Do They Work?

As mentioned above, Lucky Block dividends will be one of the main attractions for passive income investors. Dividend amounts will be based on the daily jackpot amount, which itself is derived from the percentage of token holders who purchase a lottery ticket and the amount of money spent on lotto tickets.

To give an example of how this would work, let's assume a conservative number of 25.000 LBLOCK holders by the time Lucky Block lottery officially kicks off on March 25, 2022. Suppose 50% of token holders have one ticket per day buy for $5, with the addition of the 4% transaction tax that will be added to the lottery pool of the expected trading volume of $400.000 per day at the time of the lottery launch

This will result in a daily jackpot (70% of the pool) of $54.950, a daily charitable donation (10% of the pool) of $7.850, and a 19,1% dividend PA through jackpot distribution to holders

An example of Lucky Block dividends

Another great thing about Lucky Block dividends is that users will receive payments regardless of whether they bought a lottery ticket or not. Suppose Ben has $1000 worth of LBLOCK in his wallet (0,07% of the total LBLOCK on the platform) and buys a $5 ticket to a daily lotto draw worth $54.950, based on the amount allocated to LBLOCK holders rewards , he would receive a $0,52 dividend payment from that drawing alone.

If Ben just kept this amount in LBLOCK for the whole year, he'd earn a 19,5% return on his holdings — much higher than what a bank would offer. This return could grow even further as more people hold LBLOCK tokens and participate in the daily lottery draws.

If the market price of LBLOCK rises, Ben's daily dividend payout would also rise – offering the opportunity to significantly offset the amount spent on lotto tickets and possibly even result in free entries. Finally, there is also still the chance that Ben will win one of the daily lottery jackpots, which is an extra incentive to keep LBLOCK and buy lottery tickets! Also check out this article about lucky block.

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Paula

Paula critically researches the market of automatic crypto trading platforms and writes general articles about the world of cryptocurrencies.