Lucky Block PancakeSwap Launch Grabs Investor Attention
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People’s lottery Lucky Block (LBLOCK) launches on decentralised exchange PancakeSwap in little more than an hour, following its sold-out presale that finished two weeks early, such was the demand for tokens.
The blockchain-powered lottery platform begins trading on PancakeSwap at 18:00 GMT/UTC today (26 January), with a listing price of $0.00021.
The last price at which the token was bought was in the presale at $0.00019. Buyers will likely need to set a high slippage threshold to make sure trades execute in a timely fashion. The team says more details on slippage settings will be posted to the Telegram group.
The Lucky Block team has been enjoying buoyant investor support since the project was founded in November 2021 by serial entrepreneur Scott Ryder. There are now already more than 20,000 people on the official Telegram, which is proving a lively forum for keeping up with the latest news from team.
Lucky Block investors can’t get enough of LBLOCK
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.
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 has a $330 billion market opportunity
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.
More exchange listings in the pipeline
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.
How to buy LBLOCK Pancakeswap
On the freshly updated website there are now detailed step by step guides on how to get ready for the Pancakeswap launch for both Trust Wallet and Metamask users.
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.
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 tight then a trade may take longer to execute. However, if you set it too wide then you may end up buying at a price higher than you expected (or perhaps lower), but your trade will go through more quickly.
But with plenty of liquidity assured by the Lucky Block team buyers should be able to trade smoothly.
Find out more about 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.
