Lucky Block V2 Review : Why Do V1 Holders Not Miss the V2?

The decentralized gaming project’s development team reassured B2C in an email that owners of the previous version of the Lucky Block ecosystem’s native token still have time to trade in their assets for the updated version of the token.

The LBLOCK token was initially designed to function smoothly within the context of decentralized markets. To deter speculative behavior and entice long-term investors, this version included a 12% tax to all short-term transactions.

The development team had to construct LBLOCK V2 so the token could be listed by CEXs in order to enhance exposure and liquidity because centralized exchanges do not allow the collection of these taxes.

LBLOCK V2 tokens are now listed on LBANK and MEXC, which has led to a surge in their price over the past few days.

 

If You Hold LBLOCK V1, You Can’t Trade Until The Bridge is Built

With a price of $0.002954 on LBANK right now, LBLOCK has increased in value on the exchange by close to 200% during the past 2 days. Meanwhile, the token’s price increased by 266% on MEXC the day it was launched, from $0.0013 to its current price of $0.002926.

Despite the listing of the more liquid V2 token on LBANK, some LBLOCK investors choose not to convert their V1 tokens.

Lucky Block is planning to release a BEP-ETH bridge, which will let these investors transfer their BEP tokens to the Ethereum blockchain, transforming them into LBLOCK V2.

Every V1 token an individual possesses will be converted into 0.88 V2 tokens. Due to a thorough audit by Certik, Binance‘s approved blockchain security provider, the bridge is not yet available.

The recent cyber attacks on numerous bridges, such as the Ronin bridge of the Axie Infinity (AXS) ecosystem, which cost several hundreds of millions of dollars, and the most recent exploit on the Nomad bridge, which cost hackers $200 million from investors, highlight the critical importance of this audit.

Tokens from one blockchain are stored in a smart contract and then released on another blockchain via a bridge, allowing users to seamlessly exchange and move their assets between multiple protocols. Upon successful completion of all security checks, the development team plans to release this bridge as soon as possible, protecting the community’s assets from any threats.

According to the Lucky Block team, major exchanges have taken note of the rising popularity of LBLOCK V2 on LBANK and MEXC, which bodes well for the token’s chances of being listed on the industry’s most prominent trading platforms in the near future.

However, they assured B2C that “these are some of the greatest names that you will all be well aware of,” even though they did not confirm any identities at the time.

Download App for Android

Download App for iOS

Lucky Block, Explained

Token holders of the decentralized gaming platform Lucky Block are eligible to enter tournaments with rewards ranging from one million dollars in Bitcoin to a Lamborghini. You can use LBLOCK tokens to acquire non-fungible tokens (NFT) that will give you a shot at winning these prizes. On its website, Lucky Block claims to have sold over a thousand NFTs to date.

To begin, a Platinum Rollers NFT was included into the project. Those who hold the NFT will still be eligible to enter a specified competition and earn a bonus as a result.

In the meantime, the new rival NFTs will be on the market very shortly. To date, no price has been announced for these novel digital assets. The price of a Platinum Rollers NFT was 3.75 WBNB as an example.