With Lucky Block being ranked as the number one NFT competition platform, the platform is now gearing up for a big leap. A boom in the performance of Lucky Block, or LBLOCK, this year can be attributed to the fact that it was listed on prestigious exchanges like LBank and Gate.io. Analysts have predicted that with its burn program around the corner, a price pump could be seen, making this a perfect time to become a LBLOCK owner.
Lucky Block For Beginners
As an NFT competition and rewards platform, Lucky Block gives users the ability to enter competitions in ticket-style. With their distinct design and identification numbers, NFTs can be differentiated from one another on the famous marketplace Launchpad.xyz.
NFT purchasing page (Launchpad.xyz)
Once under a competition, all the NFTs have been sold out, the drawing will start off.
Dynamics of Lucky Block Token Burn Program
First, what is token burning? Token burning is the act of removing crypto tokens from the entire cryptocurrency supply chain. This is done by sending tokens to crypto wallets with unknown private keys. As this is only a one-way trip for assets transferred into the digital wallet, the wallet content is inaccessible.
As a result of reducing the overall supply of a token, an artificial shortage results, leading to decreased circulation and an increase in scarcity for leftover tokens. It is a tried and tested technique and has been employed by a number of previous projects, including but not limited to Shiba Inu (SHIB) and PancakeSwap (CAKE).
🔥 $LBLOCK #tokenburn is coming! 🔥
Starting September 30th 2022, #LuckyBlock will implement monthly 1% token burn of the LBLOCK supply in order to support LBLOCK price 😎
Don’t miss it, grab some $LBLOCK before at https://t.co/NCzeQkbC90 🤞 pic.twitter.com/fjBVJfM2zf
— Lucky Block (@luckyblockcoin) September 7, 2022
The developer team announced the token burn on Twitter on September 7, 2022, estimating that the program could start on September 30th. Additionally, it was announced that 1% of tokens will be burned monthly to support LBLOCK price. Doing the math, 36.5 million tokens will be destroyed every month. Crypto Analyst predicts that this will likely boost demand even further.
Lucky Block Token Bridge
After the launch of the Lucky Burn program scheduled for 30 September, there is the possibility of a sudden increase in demand. Considering this, the developer team has created a highly anticipated token bridge that enables users to easily convert the Binance Smart Chain (BSC) V1 BEP-20 based cryptos to more versatile V2 ERC-20 based cryptos.
Smoothing the trading process will help to attract more people to buy LBLOCK. Lucky Block confirmed that 12% tax on sales and difficulties in getting old BEP20 (Binance Smart Chain) listed on Centralized Exchanges were among the reasons for which the Lucky Block Ethereum bridge was developed.
Lucky Block’s development team has a clear and precise goal: improve LBlock’s versatility and user-friendliness. The Lucky Block Burn Program and the Ethereum Token Bridge are recent examples of this as demonstrated in the recent releases.
What to Expect
LBLOCK is already becoming very popular due to its self-explanatory roadmap, the hardworking attitude of the team, and the fact that it has been able to solve a real-life problem, which is why the project is gaining increasing support every day. LBLOCK has become a great innovation in the crypto industry, and it continues to gain more and more supporters every day.
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