Lucky Block V2 token bridge details, timing in full: Will burn program charge LBLOCK price?
Non-fungible token (NFT) rewards and competition platform Lucky Block (LBLOCK) is set to implement its new 1% burn programme that will see an update between its BNB Smart Chain (BNB) V1 token and Ethereum bridge V2 token.
The burn is set to transform LBLOCK into a deflationary asset with 1% of the total supply set to be burned from the project on a monthly basis.
The main objective, according to the company’s website, is to ensure that both V1 and V2 tokens are available to the entire crypto community by listing them on the world’s biggest decentralised exchanges (DEXs).
The V1 token is currently listed on PancakeSwap (CAKE), with V2 trading on the LBank and MEXC Global. On 1 September, V2 went live on the Gate.io exchange, the fifth-largest cryptocurrency exchange by trading volumes.
Lucky Block launched just nine months ago in January 2022, and has already amassed a community of more than 57,000 token holders.
V2 token bridge timing: What’s coming up?
Lucky Block CEO Scott Ryder confirmed via Telegram that the go-ahead date for the bridge is 3 October. The update is expected to boost the values of both V1 and V2 tokens.
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, so a special thanks to Terence and James on that and our Mods for their polite patience in dealing with an understandably at times frustrated community.”
While the price of LBLOCK surged by more than 400% on its opening debut on the MEXC exchange on 27 July according to Lucky Block, past performance is not a reliable indicator of future results – so it’s not clear what effect go-ahead date for the bridge will have on the price of lucky block.
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