Lucky Block Awaits FTX Listing, On Track for 250,000 Holders in Month

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Lucky Block, the new People’s Lottery platform set to launch on 21 March, is seeing its price consolidate in the $0.00190 to $0.00210 range, with more exchange listings news imminent.

The globally focused blockchain-based lottery platform that pays a dividend to all token holders and will be donating 10% of jackpots to charity, is awaiting its first listing on a centralised exchange, after launching on the PancakeSwap DEX on 26 January.

Love Island's Nabila Badda at Lucky Block charity event 7 jan 2022
Pictured: Love Island 2019 contestant Nabila Badda attends 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)

First up is expected to be the fast-growing FTX exchange, followed by Crypto.com.  Crypto.com is already tracking the price of LBLOCK. To keep up with the news on that, interested parties are urged to join the official Telegram group, where pinned messages keep the community informed.

In the short time since its PancakeSwap listing, Lucky Block has soared to a market cap of $200 million on a fully diluted basis of total supply of 100 billion tokens, with early investors seeing returns north of 1,000%.

Lucky Block could have 250,000 token holders in 30 days at current rate of progress

Currently, buyers are running into strong overhead resistance in the $0.00220s area, but will be encouraged by support around the $0.00190 level, although it did slip below that level earlier today.

The number of investors (wallet holders) has climbed above 16,925 after five days of listing on just one exchange – PancakeSwap. Wallet holder numbers have doubled since the end of the presale when it stood at 8,611.

If the current rate is maintained – that’s to say doubling every 5 days, then the platform could have 250,000 active addresses in 30 days’ time.

LuckyBlock (LBlock/WBNB)
Price: $ 0.002048 (24h +0.08%)
Volume 24 hour: $2,097,045.80
Holders: 16,925
Transactions: 94,333
Pooled LBlock: 871,684,494.72
Pooled WBNB: 4,781.89
Liquidity: $3,570,544.40
Diluted Market CAP: $204,807,153.34
lucky block price chart 31 jan 2022
Lucky Block is in an ascending price channel with further catalysts from dev milestones and exchange listings news expected this week

Lucky Block app – development news on tap tomorrow, Tuesday 1 February

Lucky Block users access the lottery platform through the mobile app, due for release on 21 March. It is understood that users will be incentivised to download the app because it will be the primary way to play the lottery, which will include daily draws.

Token holders will connect their wallet to the app in order to play the lottery. The dividends from each jackpot will be paid instantly and be viewable and tracked on the app.

To drive adoption, 22.5% of token supply has been allocated to marketing to promote the global lottery.

According to team insiders, more news on app development is expected tomorrow. So too are details of its referral programme.

James Fennell, chief strategy officer at Lucky Block, said: At the moment we are working hard to deliver on our vision for a global lottery open to all and owned by its players. 

“Key to realising that strategy is our app launch in March. The app will make playing the lottery and tracking winnings easy, as well as being the place where token holders can see their dividend payments compound and track the passive income they are earning. 

“As we continue to build out our offering, which at a later day will include gaming, NFT and metaverse products, we will work towards achieving one of our other strategic goals – advancing our mission to transform philanthropy, in part through setting up our global not-for-profit Lucky Block Foundation.”

lucky block UI new

Dividend yields to grow as number of lottery players increases

The dividend payout rises as the number of people playing the lottery grows.

Every time LBLOCK is sold a 12% transaction fee is applied, of which a third of that amount is paid into the lottery pool.

Regarding the market cap valuation of the platform, the revenue from ticket sales – tickets can only be bought with LBLOCK – will offset jackpot winners cashing out their LBLOCK. The exact details are yet to be revealed.

For a deeper dive into how the lottery platform’s innovative dividend works, the Lucky Block team has provided some illustrative examples:

Based on conservative amount of 25,000 holders by lotto launch 25 March:

50% of holders buying on average of 1 ticket per day  @ $2.50 with the addition of the 4% of transactional tax added to the lottery pool from the expected $400,000 a day trading volume at the time of lottery launch.

  • Daily jackpot (70% of pool) of $33,075
  • Daily Charity Donation (10% of pool) of £4,725
  • 11.5% Dividend PA via jackpot distribution to holders

Based on conservative amount of 25,000 holders by lotto launch 25 March:

50% of holders buying on average of 1 ticket per day  @ $5 with the addition of the 4% of transactional tax added to the lottery pool from the expected $400,000 a day trading volume at the time of lottery launch.

  • Daily jackpot (70% of pool) of $54,950
  • Daily Charity Donation (70% of pool) of £7,850
  • 19.1% Dividend PA via jackpot distribution to holders

Generic case study: Based on conservative amount of 25,000 holders by lotto launch 25 March 50% of holders buying on average of 1 ticket per day @ $5:

Alice holds $1000 LBLOCK in her wallet, which is 0.07% of LBLOCK held on the platform. She buys a $5 ticket in a lottery which has a jackpot of $54,950. Despite her 12500/1 odds, Alice doesn’t win but she get’s paid a dividend in LBLOCK of $0.52 anyway. However, Alice would have received this dividend whether she bought a ticket or not.”

If Alice held this amount of LBLOCK all year round at this rate she earns 19.5% PA. If the lottery grows, so does her return! Furthermore, if the market price of LBLOCK increases, Alice would essentially be getting free ticket entries offsetting her gains against her tickets.

The exact breakdown of the transaction fee is:

 Transactional fee – 12% transactional fee on sale
Lottery Pool 4%
Liquidity Pools 4%
NFT & Gaming Royalty Fund 3%
Token Burn 1%

55.4 million tokens have been burned so far. Click here for the address at the bscscan explorer (screenshot below):

lucky block burn address

 

Token distribution of the total supply of 100,000,000,000 (100 billion) is as follows:

  • Presale: 32,500,000,000 (32.5 billion – 32.5%) 
  • Strategic partners and advisors: 20,000,000,000 (20 billion – 20%)
  • Marketing: 22,500,000,000 (22.5 billion – 22.5%)
  • Team: 20,000,000,000 (20 billion – 20%)
  • Product development: 2,500,000,000 (2.5 billion – 2.5%)
  • Locked liquidity – 1-year lock: 2,500,000,000 (2.5 billion – 2.5%)

About Gary McFarlane PRO INVESTOR

Gary was the production editor for 15 years at highly regarded UK investment magazine Money Observer. He covered subjects as diverse as social trading and fixed income exchange traded funds. Gary initiated coverage of bitcoin and cryptocurrencies at Money Observer and for three years to July 2020 was the cryptocurrency analyst at the UK's No. 2 investment platform Interactive Investor. In that role he provided expert commentary to a diverse number of newspapers, and other media outlets, including the Daily Telegraph, Evening Standard and the Sun. Gary has also written widely on cryptocurrencies for various industry publications, such as Coin Desk and The FinTech Times, City AM, Ethereum World News, and InsideBitcoins. Gary is the winner of Cryptocurrency Writer of the Year in the 2018 ADVFN International Awards.