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At Lucky Block there have been many recently exciting news: The platform has established itself as a global NFT platform Repositioned, a new ERC-20 token was implemented, with LBank and MEXC standing two new listings on crypto exchanges on and for mid-September with Gate.io already the next CEX listing is planned.
Especially the launch of the LBLOCK V2 token led to an increase in the price of the coin. In the future with LBLOCK V1 and V2 both tokens in parallel run. Price parity is ensured via an Ethereum bridge. For investors, this raises the question: how exactly do the V1 and V2 tokens differ? What is the better approach? Should I buy the LBLOCK V1 or LBLOCK V2?
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These questions would like coincierge.de in this article.
Lucky Block V2: What is the new token all about?
The previous Lucky Block V1 Version was created as a BEP-20 token and thus based on the Binance Smart Chain developed. This allows fast and cheap transactions and allows the developers to design a complex billing system with a complex reward structure. So fall here taxes and fees for every transaction to.
Due to the technical structure, the Listing at central exchanges however, as difficult. Therefore, a new ERC-20 token has been available since July 2022 with the Lucky Block V2 Token. This one is exclusively for use on central exchanges intended. There are no transaction fees for purchases and sales, but there are also no rewards from the jackpot.
Another positive aspect of the new ERC-20 token: so are Interactions with dApps from the Ethereum network and with ERC-20 cryptocurrencies possible. The Lucky Block far more possibilities open.
A Quick Reminder About Some Of The Mega Milestones Lucky Block Has Reached:
➡️ Presale Sold Out Early
➡️ Web App Went Live On The 31st of May
➡️ 2 x $1,000,000 Draws Completed with Winners Receiving Daily Payouts
➡️ Listings On Top #cryptoexchanges
➡️ Over 50k Holders pic.twitter.com/iyTodVJRDL– Lucky Block (@luckyblockcoin) August 24, 2022
LBLOCK V1 and V2: Ethereum Bridge ensures price parity
Price parity between the V1 and V2 tokens is ensured by a Ethereum Bridge. Through it, assets are also transferred between the protocols, so it allows investors to transfer their Convert V1 tokens to V2 tokens.
For example, if V1 coins are purchased, the same number of V2 coins will be blocked. If the V1 coins are sold again, the V2 coins will also be unlocked. The exact process is defined in a minting and burning protocol of the blockchain.
Thus, therefore, can the entire Lucky Block ecosystem benefit from the V2 token and the price increase associated with it. Because as soon as the Ethereum bridge is stable, this price development will also affect the LBLOCK V1.
The Lucky Block team is currently preparing the launch of this ETH-BEP bridge: it is not ready to launch yet, but goes through an audit at Certik, Binance’s preferred blockchain security firm.
11/ This bridge was hacked for the amount of $622million in March 2022, leading to a significant drop in the value of the project. Whether or not Axie recovers from this is yet to be seen. https://t.co/4ZuOnMxnJK
– Lucky Block (@luckyblockcoin) August 1, 2022
Here is a careful approach is important, since recently there have been frequent cyber attacks on cryptocurrency bridges. For example, the attack on the Ronin-Bridge of the Axie Infinity The network Losses of several hundred million dollars, while the attack on the Nomand Bridge resulted in losses of 200 million dollars.
Further listings on DEX and CEX are in prospect
For the Lucky Block Coin, this means new listings more visibility and wider, more accessible purchase options. This brings more potential buyers as well as associated with a stronger price growth. Now it will be exciting to see how the V2 update will affect the LBLOCK listings in the long term:
By upgrading, Lucky Block is using the new token already listed at LBank and MEXC, for the week starting September 12, a further CEX listing at gate.io planned. In addition, Lucky Block is now compatible with the major central crypto exchanges such as Crypto.com or Binance. The team has already announced that it is now tackling further CEX listings.
📣Important!📣
In a big win for Lucky Block, the NFT competitions platform, we’re proud to announce that V2 $LBLOCK will list on: https://t.co/FkAb1Wvhuw – the 5th biggest #CEX in the world! 🎉
Date – week commencing 12 September 2022 – exact date will be closer to listing 🔜 pic.twitter.com/Louv8KbIOJ
– Lucky Block (@luckyblockcoin) August 16, 2022
In addition, the LBLOCK V2 token is since on August 6, Uniswap was listed on another large decentralized exchange. This complements the PancakeSwap listing, which has been in place since the beginning of the year.
What are the differences between the V1 and V2 tokens?
The most obvious difference the reason is that the V2 token is just an ERC-20 token based on the Ethereum Blockchain concerns. In the long term, this should apply to all central exchanges while the V1 token is intended for decentralized exchanges.
Furthermore, the new token differs in that it no taxes or fees apply to the transaction. This will allow trading with the token overall cheaper. However, the LBLOCK V2 can not be used for the purchase of jackpot tickets and also Rewards from the Lucky Block Pool are only intended for owners of the V1 token.
Should you buy Lucky Block V1 or V2 now?
The question of whether the Lucky Block V1 or V2 are the better choice can be answered do not answer flat rate. Because which decision is the right one depends on which Intent when buying in the foreground.
If you are on the Lucky Block Participate in the jackpot would you like to or are interested in the Rewards from the Lucky Block Pool if you have, then the V1 Tokens the right choice for you. You can buy and sell this BEP-20 token on decentralized exchanges such as PancakeSwap.
Do you want Lucky Block actively trading as a day trader and in the long term, it could V2 Tokens be appropriate. Your focus is then not on the crypto lottery, but on the Increases in the value of the coin. By purchasing the V2 token, you can trade the Save fees and taxes. The V2 token is intended for central exchanges and can currently be traded at LBank and MEXC.
Last updated on August 25, 2022
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