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Lucky Block investors have been waiting for this for weeks: NFT lottery platform Lucky Block (LBLOCK) is getting an Ethereum bridge. This allows LBLOCK holders to switch between the Ethereum and BNB smart chain versions of the coin. The Ethereum Bridge is scheduled to go live as early as October 3, 2022.
Lucky Block gets an Ethereum bridge
Finally the time has come: Lucky Block (LBLOCK) acquires an Ethereum bridge that connects the V1 version of the token to the V2 version. An event that the Lucky Block community has been waiting for for quite some time. On July 27, 2022, LBLOCK V2 was launched on the LBank exchange, meanwhile also on the centralized exchanges MEXC and geata.io listed.
Date – week commencing 12 September 2022 – exact date will be closer to listing 🔜 pic.twitter.com/Louv8KbIOJ
– Lucky Block (@luckyblockcoin) August 16, 2022
Since then, investors have been waiting for a bridge that brings the two coins together. It’s supposed to be out on October 3rd. According to the team, the bridge inspection will be completed within the next two weeks and can be put through its paces in the test network. Lucky Block Bridge code has already been checked by Certik, now further tests need to be done.
Background: Bridges are vulnerable to hacking because they transfer large amounts of value between interoperable blockchains. In addition, the code is quite complex. The Ronin Bridge hit from blockchain gaming Axie Infinity (AXS), for example $622 million hacked in March 2022:
11/ This bridge was hacked at a cost of $622 million in March 2022, which resulted in a significant decrease in the value of the project. Whether or not Axie comes back from this remains to be seen. https://t.co/4ZuOnMxnJK
– Lucky Block (@luckyblockcoin) August 1, 2022
Why is the bridge so bullish for Lucky Block
The bridge should be making the transition between V1 and V2 seamless and reducing the spread between the prices of the two versions.
As such, Ethereum’s Lucky Block Bridge allows users to add funds to one side of the bridge by unlocking the supply on the chain being funded – while simultaneously locking the supply on the chain the user owns deposit from transmission.
According to Lucky Block team, they developed LBLOCK V2 because it was difficult List the original V1-BEP20 coin (BNB Smart Chain compatible) on Centralized Exchanges (CEXs). The 12% fee charged when the V1 version is sold seems to have caused problems in this regard (on the other hand, it runs perfectly on decentralized exchanges like PancakeSwap or Uniswap).
Although Lucky Block V2 is tax free, it is well suited for CEXs and traders. The new release but does not offer holders the benefit of being eligible for rewards from the daily raffle jackpot. Additionally, LBLOCK V2 cannot be used to purchase tickets for the daily jackpot either.
$1 million in bitcoin – win now!
To participate in the NFT Sweepstakes on the Lucky Block platform, participants only need to purchase one NFT (non-mungible token) of the collection.
In addition to the main prize, the holders of the NFTs receive Rewards from the transaction fee pool – as long as they own the NFT. Current prizes include a $1 million bitcoin win, a $1 million house, a five-star vacation, and a Bored Ape Yacht Club NFT. Even a sinfully expensive Lamborghini will be hauled away (you must purchase Lucky Block Platinum Rollers Club NFT to join).
What are the benefits of Platinum Rollers Club #NFTs? 🤔
Buy now at https://t.co/DppL2Cq1q6 and be part of the exclusive Platinum Roller Club ✅ pic.twitter.com/gdBbQrAxQA
– Lucky Block (@luckyblockcoin) August 22, 2022
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