Join Our Telegram channel to stay up to date on breaking news coverage
Lucky Block (LBLOCK) has already established itself as one of the most exciting new cryptocurrencies to emerge this year. This is mostly due to the fact that it has been listed on a number of prominent exchanges, such as Lbank, Gate.io and MEXC, and. In spite of this, with the introduction of its forthcoming burn program, we could witness an even more significant shift from LBLOCK in the not-too-distant future.
What You Need To Know About Lucky Blocks’ Burning Program
Controlled token burns can have outstanding outcomes in terms of upward price movement. This is accomplished by lowering the amount of an asset’s circulating supply, hence boosting its scarcity and the demand for the tokens that are still in circulation. A huge variety of ventures, like Luna Classic, Shiba Inu (SHIB) and PancakeSwap (CAKE), have all utilized this method, which has helped them achieve a great deal of success (LUNC).
Recently, in the Lucky Block project’s Telegram channel, the CEO of the company, Scott Ryder, made the announcement that the LBLOCK token will be subject to a monthly burn of 1% of its total supply. It is anticipated that the program will commence on the 30th of September, and each month after that, an extra 1% of tokens will be burnt.
There can only ever be 3.65 billion LBLOCK tokens in circulation, yet the first month will see the destruction of 36.5 million of them. The demand for LBLOCK tokens would increase if their price rose as their legitimacy as a deflationary asset grew. Inflation reduces the worth of deflationary assets.
What Does Lucky Block Offer That Others Don’t?
Originally launched as a blockchain gaming service, Lucky Block has now broadened its offerings to include a wider range of games and collectibles and the opportunity for members to participate in tournaments.
Recent gains in the value of the platform’s native token, LBLOCK, may be attributed in part to the platform’s proactive engagement of its users and players. Lucky Block’s creators are holding many prize giveaways, according a press statement issued recently.
Holders of LBLOCKs have the opportunity to win over $50,000 in prizes through these drawings, while investors who purchase Lucky Block NFTs have the possibility to participate in additional draws with greater entry hurdles but more significant rewards.
Several of the best platforms on the market have taken notice of the recent flood of capital. By listing on trading platforms like MEXC and Gate.io, the asset is now accessible to a wider audience of profit-seeking individuals.
LBLOCK Ethereum Bridge’s Getting Closer
Apart from all the other developments surrounding Lucky Block and the token burn program, the delivery of the Lucky Block Ethereum Bridge is rapidly approaching. Binance Smart Chain (BSC) V1 token holders will finally be in a position to exchange their tokens for the newer ERC token standard V2 LBLOCK in a rather painless way.
This is really exciting news for anybody who own LBLOCK, since it will significantly improve the trading experience and contribute to an increase in demand for both the V1 and the V2. The tokens for the first round of trading will be destroyed on September 30, and the bridge will open for business on October 3.
The combination of these two occurrences is likely to result in a significant increase in the demand for Lucky Block and may contribute to the token’s value reaching new heights.
The LBLOCK token has already been demonstrating enormous promise as a result of its centralized exchange (CEX) listing campaign. Furthermore, with the introduction of the new monthly burn and the V2 Bridge, the project has firmly established itself as one of the best cryptocurrencies that have the most potential and have the best chance to skyrocket in 2022.
Read More
Join Our Telegram channel to stay up to date on breaking news coverage
