Lucky Block Launches On PancakeSwap As Buying Interest Soars
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Lucky Block (LBLOCK) lists on PancakeSwap today after its presale sold-out, enabling the project to bring forward the debut of the token on its first exchange.
Dubbed the People’s Lottery because of its unique governance that bestows ownership rights in the platform to its token holders, Lucky Block launches on PancakeSwap at 18:00 GMT/UTC today (26 January), with a listing price of $0.00021. The last quoted price in the presale was $0.00019.
The Lucky Block team has been riding a wave of enthusiasm that’s being generated by its growing army of investors. For example, almost overnight a community of nearly 20,000 people has sprung up on Telegram.
Lucky Block catches fire as investor interest grows
A combination of savvy marketing efforts across crypto media outlets and social media, Transport for London advertising, and the enlistment of brand ambassadors with a youthful following, have combined to light a fire under this project – and perhaps in a few hours its token price too.
But ultimately the early success of Lucky Block is probably down to its economic fundamentals. The new platform’s product features set it apart from both crypto and traditional lottery competitors.
Killer features include charity donations from every draw, better chances of winning, dividend payments to all token holders, irrespective or whether or not they have bought tickets in a lottery draw, and voting rights for all token holders.
Lucky Block Celebrates 2022 With A Donation To The British Red Cross
LONDON, ENGLAND – JANUARY 07: Guests including Cam Edwards of Sigma, Adam Kelbie, Jamie Jewitt, CEO of Lucky Block Scott Ryder, Sonique, London President of the British Red Cross Solangela Garbutt, Kele Le Roc, Nabila Badda and Sav the Magician attend an exclusive drinks reception hosted by cryptocurrency lottery Lucky Block to celebrate 2022 with a donation to the British Red Cross at IT London on January 7, 2022 in London, England. (Photo by David M. Benett/Dave Benett)
Lucky Block market cap could mushroom quickly
Even before the PancakeSwap launch listing, the project already has a market cap of $5.7 million following the completion of its presale of 32.5 billion tokens out of a total supply of 100 billion.
The Lucky Block website has just had a makeover and a new version of its whitepaper has been posted, as the team seeks to attract more investor interest around the globe – both institutional and individual.
The QY Research Group says that the global lottery market was valued at $336 billion in 2019 and it is expected to reach $433 billion by the end of 2026, growing at a CAGR of 4.05% during 2020-2026.
So there is all to play for for Lucky Block, with its ‘everyone’s a winner’ lottery. Its valuation could soar.
There are also plans further down the line for full-blown staking on Lucky Block as well as a move into NFTs and the metaverse.
Crypto.com, FTX exchanges next, then Binance
With funds already pouring into the project, hopes are high that the momentum will continue, with more listings already in the pipeline, including Crypto.com and FTX applications made last week and Binance targeted for February. Plus its global marketing campaign is now up a gear.
Exchanges will likely be happy to list the new breed of tokens such as Lucky Block that can demonstrate a sizeable revenue stream potential from day one of operations. Ultimately it is the success of a product in executing its vision that drives interest in buying and holding a coin – and Lucky Block appears to ticks all the necessary boxes in that department.
In particular, the income stream from dividend payments is likely to incentivise long-term investors and underpin buying interest on exchanges.
What to know about buying on Pancakeswap
Lucky Block token (LBLOCK) runs on the Binance Smart Chain, as does PancakeSwap. This means you must convert your crypto into the Smart Chain version of BNB (BEP-20) in order to buy LBLOCK. But remember to keep a portion of ordinary BNB to cover fees.
The contract address for LBLOCK is: 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb
PancakeSwap is a decentralised exchange, which means that there is no traditional order book with bid and ask prices. Instead there is a smart contract that functions as an Automated Market Maker.
Slippage
Buyers take the most recently quoted price. However, there can be some slippage in prices in either direction, so buyers will need to set optimum slippage tolerance levels.
If you set it too low, then a trade may take longer to execute. However, if you set it too high then you may end up buying at a price you are not expecting, but your trade will go through more quickly.
To make sure buy orders go through a slippage north of 19% may be required, but there should be more information on this shared by the team in the Lucky Block Telegram channel.
But with plenty of liquidity assured by the Lucky Block team buyers should be able to trade smoothly.
Keep in touch with Lucky Block
If you want to keep up with developments in real time then the official Telegram is the place to be, but beware of fakes and scammers.
And if you want to conduct more thorough due diligence on Lucky Block, its tokenomics and business plan, check out the whitepaper.
Lucky Block smart contract is audited by well-regarded German company Solidproof.io, and the results of its 30-page audit can be found here. Suffice to say, Lucky Block passed the audit with flying colours.
Disclaimer: the author acts as a consultant to Lucky Block. None of the content of this article should be taken as investment advice.
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