Lucky Block V2 – Look for More LBLOCK V2 Listings on CEX!

A few days ago, Lucky Block‘s head of product, Terence Ribaudo, hosted an AMA session to answer questions and clear up concerns that LBLOCK holders may have concerning the status and future of the project.

Ribaudo fielded several questions about the V1 token, which has been out of the spotlight as the development team has been concentrating nearly solely on rolling out the V2 protocol. Ribaudo first made it clear that the V1 token is largely utilized for the gaming aspect of the business model, and that all benefits promised to people who invested in that token will be kept.

The product manager also hinted that the Lucky Block BEP-ETH Bridge, which would allow V1 holders to exchange their tokens into LBLOCK V2, should be finalized in around 60 days. V1 token holders will be able to exchange their tokens for 0.94 V2 tokens once the bridge becomes operational. In order to support the protocol, Binance Smart Chain necessitates that Certik conduct an audit of the bridge.

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Ribaudo Claims There Is No Cap On CEX Listings

With respect to the impending V2 token listings on CEXs, Ribaudo noted that the team has not decided on a maximum number of centralized exchanges to which they would apply to list LBLOCK V2.

Ribaudo said that negotiations are ongoing with as many as seven other platforms. The LBLOCK V2 token has been successfully listed on both LBANK and MEXC in recent days. Investors appear to have been drawn to the value proposition of the ecosystem, which led to an instant increase in the token price.

The team’s current aims include “developing functionality first, acquiring as many CEX listings as possible,” he said.

In the last day, the price of LBLOCK on LBANK has increased by 16.9 percent, to $0.002638 per coin. In the meantime, the token is trading up 14.7% on MEXC at the moment, at $0.002487 per coin.

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Lucky Block V2, Explained

The platform’s native token, Lucky Block V2, has been updated. The token’s developers designed V2 so it could be traded on major decentralized exchanges like LBANK and MEXC, expanding the token’s access to institutional investors and broadening the market for potential buyers.

To deter speculation, the initial LBLOCK token model included a 12% transaction fee on all sales. The condition had to be eliminated in order to get the coin listed on a centralized exchange, which does not support these taxes.

Users can now enter contests on the platform by purchasing non-fungible tokens (NFTs), which was made possible as part of the business model shift that accompanied the release of LBLOCK V2. Competition winners have taken home everything from a million dollars in Bitcoin (BTC) to a Lamborghini.

According to what Ribaudo made clear in the AMA, the new competition NFTs need to be made available to the investment community within the following 7 days. In addition, the compensation guaranteed to those who purchased the project’s earlier NFTs, known as Platinum Roller Club (PRC) NFTs, will be paid out in full.

So, according to the head of product, PRC holders will be paid on LBLOCK with a portion of the proceeds from the sale of the new competition NFTs.

But he stressed that the team has not yet decided the “precise approach” for this and that more details will be provided once they have.

In addition to Tamadoge, several novel endeavors are catching the eye of the financial sector (TAMA). Tokens will be used to fuel the Tamaverse, a virtual reality environment in which players can create their own Tamadoge pets, care for them, and eventually pit them against one another in fight for loot.