Lucky Block AMA With Terence Ribaudo, Head of Product, on LBLOCK V1, V2 and Everything Else – Transcript

On Wednesday 3rd August 2022 Lucky Block head of product Terence Ribaudo held an AMA on our Discord to directly answer all questions from the community regarding the LBLOCK V1 and V2 tokens, the NFT Competitions, the jackpot draws, CEX listings and much more besides.

Read on to get the lowdown on the latest developments and how we are working flat out to boost the value of the Lucky Block ecosystem for ALL users and investors.

1. Will there be an option to stake V2 in the near future?

We are looking into staking V1 AND V2. Once we have any updates we will let you know.

2. On the new NFT site, there is a mention of rewards (both for PRC and new collection NFTs). Can you give us any idea what these rewards might be, and if they will be paid in V1 or V2.

The rewards will be as a share of revenue generated from the sales of new NFTs, paid in LBLOCK. We have not finalised the exact method yet but will share further information when we do. 

3. Can you give us an indication when the new collection NFTs go on sale, and when the weekly drawings for PRC NFT start?

New NFTs will be on sale within the next 7 days. There are no weekly drawings for PRC NFT – please speak to a Mod and share further details.

4. Will new collections NFTs be bought with V1?

At the moment no – we are working on new infrastructure including a dedicated LBLOCK wallet that will support many of the features you have been asking for. When thats complete you will be able to buy NFTs with LBLOCK V1.

5. The website is branded as “The No. 1 NFT competitions & Rewards Platform” with zero mention of the project’s foundational lottery platform or link to the lottery app on the main website. There is also no mention of the V1 token and it’s function/utility vs V2 CEX token. Can you please address why this has been left out?

This is due to legal requirements which have been a constant battle for us. V1 is what you all invested in and has delivered to the roadmap described in the whitepaper. Its utility will always be to play games and be utilised in whatever capacity to encourage price increase. It will have its own dedicated marketing website very soon.

V2 enables us to increase liquidity into the ecosystem, bring new buyers in, who can then easily swap to V1 to play games and enter competitions.

6. Will there be an approx date for the bridge release and do you feel safe after the Nomad bridge hack that with confidence our investments will be save?

“Feel safe” isn’t really a term we use. We are doing as much as possible to secure the bridge and we only make it live in windows to limit the chances of any 3rd parties gaining access to it. This is a less haste more speed situation. Bridge should be live within next 60 days. It’s important for us to maintain V2 price growth until all CEXs have listed the token. So, be patient. 

7. Would it be possible to make a deal with LBank, so people can send their V1 token to convert it there into V2? This might be good for impatient people who don’t want to wait for a bridge.

No. We are not here to cater to impatient people.

8. Any plans to do more marketing about charity? 

Yes. We are finalising plans and then will be implementing a PR campaign in the next couple of weeks.

9. We fully appreciate the issues that the team had legally with the term “lottery” and then not being able to release mobile Apps, therefore getting the web app up and running, however can you please clarify if the “daily LBlock draw” will continue to be pushed through advertising? 

Yes – we have an extensive network of sites with active stories daily. And we are looking for the best deals to do out of home and digital advertising. As I have said many times – we are not planning to waste money in a bear market.

10. What’s happen if Certik don’t approve the bridge?

Then we will decide if we release it or not. They will provide a full report with code update recommendations.

11. When to expect a mobile-friendly version of the web app?

This will be included in the LBLOCK Wallet. Several months.

12. How will NFT collection sales influence the price of the coin? The platinum rollers NFT has to be paid in WBNB on nftlaunchpad that that no direct influence on LBlock. Are NFTs for competitions bought in WBNB again?

NFT launchpad will accept LBLOCK at some point in the future. At the moment we are focused on building functionality first, getting as many CEX listings as possible and only then will we integrate the token when price is stable.

13. In the case a giveaway is won by NFT holder, how will the give away be coming to the NFT holder? DM to the LBlock Team?

There will be a claim page.

14. Why is the free lifetime entry to daily PRC draws not listed as one of the benefits of owning a Platinum NFT on the website?

Because it’s obvious. They are draws for PRC holders only. Its coded into the contract.

15. TR, you coming online yesterday evening was a real confidence booster and I believe settled many investors and helped shut out some of the FUD. Every now and then could you pop in, even to just say hi?

I will do my best. TBH it wasn’t helping answering the same questions over and over. Plus many rude people were in my DMs . So if people stay polite I shall be around.

16. How will V1 holders be compensated for YOUR lack of loyalty to them? How do you plan on making sure your day 1 holders don’t get stuffed?

How eloquent. Read all the above. Any asset you invest in is your choice. How we run our business is ours. You haven’t been “stuffed” you are simply confused. Whoever you are, DM me or Buddy and be more specific about your issues and I will address.

17. How many CEX listings are planned until today, without saying any CEX names?

We do not have a limit. Any CEX with liquidity. In talks with 7. 

18. Will V1 still receive rewards for ever? On the website you only talk about rewards for NFT holders.

Yes. We may change the mechanism but holders will receive rewards as long as they comply with the framework we lay out. 

19. V1 is for jackpot/games/rewards and has 12% tax and V2 is for day trading and has no tax. But the FAQ on the new Lucky Block website says: Version 2 of the Lucky Block Token is our rewards token for our NFT holders. It is built on the Ethereum blockchain and is available to buy on these exchanges. This would worry us V1 holders as it ‘looks’ like everything is shifting to V2. There is absolutely no mention of V1 on the new Lucky Block website, which is again worrying for us V1 holders. Can you reassure us V1 holders that V1 is the backbone of the lucky block ecosystem?

V1 = Gaming

V2 = Trading

They are different tokens because ETH gas fees are far too high to deliver a gaming ecosystem. But BSC tokens cannot be listed on many CEXs so this is the plan that covers both.