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Lucky Block Bridge and Burn program details in full: Will deflation spur LBLOCK price?

By Darius McQuaid

14:32, 13 September 2022

Lucky Block logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on 14 June, 2022
Lucky Block will implement a 1% burn programme and an ethereum (ETH) bridge between tokens - Photo: Getty Images

Lucky Block (LBLOCK), the non-fungible token (NFT) competitions platform, is looking for a boost in its price after a decision to implement a 1% burn programme and an ethereum (ETH) bridge between tokens.  

Scott Ryder, Lucky Block’s CEO, said via Telegram that from 30 September 2022, the crypto will start a monthly 1% burn programme “to support the LBLOCK price”.  

The burn will transform LBLOCK into a deflationary asset, as 36.5 million tokens will be erased from the market in September from its maximum supply of 3.65 billion.

Ethereum bridge

Ryder also announced that the ethereum bridge solution for moving between the LBLOCK Ethereum V2 token and Binance BNB Smart Chain V1 versions of the coin will be live from 3 October.    

The bridge is being verified by the crypto security firm Certik and will allow holders to convert each V1 coin to 0.88 V2 coins.

The digital asset is now listed on three crypto exchanges, Uniswap, MEXC Global and LBANK.


0.58 Price
-9.470% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


381.90 Price
+0.840% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50


0.12 Price
-3.720% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872


63,634.40 Price
-1.530% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

Ryder said: “There has been a lot of uncertainty and, dare I say, fear, uncertainty and doubt (FUD), hanging over the project. As always, the best rebuttal is to deliver the product. To that end my team has been hard at work delivering and executing.”

The Lucky Block CEO also hinted at “some exciting Web 3.0 partnerships” taking place in the future.

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Price still down

Despite this news being released, both LBLOCK versions were down in price on 13 September, according to CoinMarketCap. Lucky Block V1 was down by 6.99% to $0.0004435 and Lucky Block V2 was down by 4.45% to $0.0007296.

On 12 September, LBLOCK V1 shot upbriefly in price 110% to $0.0009777, before falling back to the $0.0004435 level.

Lucky Block players earn rewards by holding NFTs and entering competitions. 

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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