Lucky Block Price Pump Incoming With 1% Supply Burn Starting Tomorrow Friday 30th
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Lucky Block (LBLOCK) is a competition platform with a difference. Through the use of blockchain technology, the Lucky Block team has created a provably fair and highly efficient platform that crypto enthusiasts simply love. The LBLOCK token is preparing to pump on the launch of the upcoming token burn program beginning Friday, September 30th.
The Lucky Block platform allows people to enter exciting competitions with million-dollar prizes. Each competition is entered using a unique NFT that also grants each holder a portion of the rewards pool. This means that even after a certain drawing has concluded, the entry-ticket style NFTs still offer long-term value.
The Burn Program
While the LBLOCK token has already been showing signs of strength following Lucky Block fighter Joe Joyce's win against Joseph Parker, the launch of the burn program is what has got investors really excited.
Starting on Friday, September 30th, the Lucky Block team will burn a sizable 1% of the token's total supply every single month. This will lead to approximately 36.5 million tokens getting burned within the first month and a total reduction of 11.5% over the first year the program is in action.
This move is phenomenal news for Lucky Block investors. By reducing the supply of LBLOCK each month, the tokens will be far more scarce. As such, even if demand says the same (although it's likely to increase), the price of LBLOCK will progressively increase.
In something of a snowball effect, this increase in price will likely boost demand as more investors look toward the token as an investment vehicle. With the LBLOCK token already being packed with utility, this could pump the token significantly. As such, it could be worth getting involved while prices remain comparatively low.
The Lucky Block Bridge
We're already on the cusp of the release of the burn program. However, following soon thereafter will be the launch of the V1 to V2 token bridge. This will allow investors that hold the BEP-20-based LBLOCK V1 to swap the asset for the ERC-20-based LBLOCK V2 token.
As the V2 token is based on Ethereum's ERC standard and features no tax on transactions, it has been the go-to choice for exchanges listing LBLOCK. As such, the token bridge should increase the trading volume of the V2 token in a big way, helping to stimulate the token's growth.
The release of the token bridge on October 3rd will be exacerbated the hype caused by the burn program, potentially sending the value of LBLOCK on a sharp upward trajectory. With the team working hard to develop new features and add even more value to the ecosystem, we could see some huge growth over the coming months, meaning LBLOCK shouldn't be overlooked.
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