Recently, the Lucky Block team introduced a V2 version of the Lucky Block token in addition to its V1 token for trading on decentralized exchanges. At first, this caused a lot of confusion among V1 holders: the question arose again and again as to whether and how they could exchange their tokens for the newer V2 version. To do this, there will be an Ethereum bridge between the two tokens in the future. This is currently undergoing a security check.
What does the Lucky Block Bridge mean for the sign?
The original version of the token was based on the BEP-20 standard and also included a 12% transaction tax. This prevented listing on major crypto exchanges and forced the developers to design a second token based on Ethereum. This is now also listed with Uniswap alongside LBank and MEXC.
Become a V2 token holder, which has gained 250% in the first few days and is expected to continue to rocket!🚀
➡️ Go to https://t.co/iQy9Pc5JTA pic.twitter.com/puHhZL91aF
– Lucky Block (@luckyblockcoin) August 8, 2022
The Ethereum bridge should ensure price parity between the two tokens in the long term. They transfer assets between protocols, allowing investors to convert their V1 tokens into V2 tokens.
To do this, tokens are blocked from the blockchain on the one hand and hit on the other. The exact process is defined in the blockchain’s minting and burning protocol.
The Lucky Block team is currently preparing the launch of this ETH-BEP bridge: This is not ready to go yet, but it is being audited by Certik, Binance’s preferred blockchain security company.
A careful approach is important here, as there have been frequent cyberattacks on cryptocurrency bridges recently. For example, the Axie Infinity Network’s Ronin Bridge attack cost hundreds of millions of dollars, while the Nomand Bridge attack cost $200 million.
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
In order to make the Lucky Block ecosystem as secure and functional as possible, the upcoming bridge is an important step. The developers are therefore working to pass the security tests as comprehensively as possible.
With the launch of the Ethereum bridge, users will have a simple and powerful way to transfer their assets between the two protocols. This should primarily promote the liquidity of the project.
Where is the Lucky Block price today?
After the listing of LBank and MEXC, there was great uncertainty among investors regarding the V1 token, which was reflected in a drop in price. However, today the LBLOCK is trading at $0.001276, in a clear trend.
This is good for the cryptocurrency – because the last few months have been quite difficult Lucky Block. Meanwhile, the price dropped to 0.0007 US dollars. Now it remains to be seen whether this price increase will already be profitable, whether the price of LBLOCK will return to the ground in the long term or whether there will be another trend soon to reverse the negative.
What is Lucky Block?
Lucky Block is a decentralized NFT platform that allows participants to enter contests. These can be used to win all kinds of prizes – from cash prizes to non-cash prizes such as a Lamborghini or a 5* holiday. This works like this:
The LBLOCK token can be used to buy various NFT collections. Once the entire collection has been purchased, owners will have a chance to win one of the corresponding prizes.
This began in the spring of 2022 with the Lucky Block Platinum Rollers Club NFT collection, of which 10,000 were minted in total. Here, one lucky owner already had a chance to win $1 million. NFT holders still have the opportunity to qualify for rewards in the form of LBLOCK tokens.
How can you buy Lucky Block V2 tokens?
You can buy Lucky Block Token directly from LBank, MEXC Global or Uniswap. All you have to do is register with one of these two platforms and you can search for the LBLOCK token under cryptocurrencies. Once you have chosen, you then enter the amount of tokens you want or the amount you want to invest. You complete the transaction by clicking the “Buy Now” button.
Last updated on August 12, 2022
The Tamadoge Presale has started!
- Best Play2Earn Crypto
- An emerging meme base
- The pre-sale started on 08/02/2022
- Best New Sign 2022
Crypto Launchpad: The Best Telegram Group!
- Neutral market analysts
- Daily summary: winners/losers of the last 24 hours
- All because of the current NFT hype
Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.