Rollbit has a token associated with its casino, this token has a lot of interesting features that benefit holders and users of the rollbit casino. This article will cover all aspect of this cryptocurrency.
Buy and Burn Mechanism
On August 8, 2023, Rollbit launched the “Buy and Burn” program. In this initiative, Rollbot purchases RLB tokens from the Degen EXchange using revenue from various platforms: 10% from the Casino, 20% from the Sportsbook, and 30% from Futures. Every hour, Rollbot buys RLB, burns 90% of the acquired tokens on-chain, and distributes the remaining 10% to Rollbot stakers. This process permanently removes a portion of RLB from circulation, thereby reducing supply and potentially increasing value.
Revamped RLB Lottery
The RLB Lottery has been overhauled to enhance user engagement. Notably, the 0.2% entry fee has been eliminated, making participation free. Now, 1.2% of the casino’s revenue contributes to the lottery prize pool. Users can wager their RLB tokens without any risk, and every 100 Bitcoin blocks (approximately 15-20 hours), 100 winners are selected in a provably fair draw. The prize distribution ranges from 20% for the first place to 0.111% for the 100th place, with a 10% chance of hitting a jackpot that can be between 2% to 100% of the total jackpot size.
Enhanced Rollbot Utilities
Rollbots have received updates to their utility features. With the introduction of the Buy and Burn mechanism, Rollbot stakers now receive 10% of the hourly purchased RLB, leading to increased earnings. Additionally, staking a Rollbot now involves a 30-day lock period, after which the Rollbot remains staked until the user decides to unstake it. This change has increased the scarcity of Rollbots on the market, enhancing their desirability among users.
Trading Fee Reductions and RLB Rakeback
Rollbit offers trading fee reductions based on the USD value of a user’s RLB holdings. Discounts range from 5% for holdings over $100 to 60% for holdings exceeding $2,500,000. Similarly, users can earn additional rakeback of up to 10% based on their RLB holdings, enhancing the rewards for active participants.
These updates reflect Rollbit’s commitment to providing value to its community by continuously enhancing the utility and appeal of the RLB token.
Trading of Rollbit Coin(RLB)
Rollbit is primarily traded on the Uniswap exchange on the Ethereum mainnet. But this could easily change in the future, if Rollbit Coin get listed on any big exchanges.