In a recent announcement, Rollbit, a leading name in the crypto gambling arena, unveiled a comprehensive revamp of its tokenomics, sparking a notable 65% spike in the value of its RLB tokens.
The New “Buy & Burn” Initiative
One of the standout strategies Rollbit is deploying is a “Buy & Burn” program. Here, a segment of the platform’s revenue will be funneled into purchasing and subsequently destroying RLB tokens on a daily basis. “This strategic move is anticipated to boost the value of RLB tokens significantly by curbing the token supply,” reads a segment from the initial report. This is aimed at creating scarcity, thereby increasing the token’s appeal and worth.
RLB Revamped Tokenomics 🔥— Lucky (@Lucky_Rollbit) August 8, 2023
~1 month ago we publicly stated that our primary goal is to make RLB the cornerstone of Rollbit.
Today we will deliver on that promise through launching the most impactful and highly anticipated feature to date: Buy & Burn
From today onwards, revenue… pic.twitter.com/tRzUWwBq1a
In a bid to offer more clarity to its user base, Rollbit has launched a real-time revenue dashboard. This tool allows users to have an in-depth understanding of RLB token value by tracking Rollbit’s revenue in live-time.
Rollbit has also introduced a series of programs tailored for RLB token holders. These include pathways for passive income, opportunities to receive free tokens, and measures to enhance RLB token liquidity.
For instance, Rollbots – staked tokens on the platform – will be locked for 30 days to maintain the RLB token price. Moreover, a fraction of bought RLB tokens will be dispensed hourly to staked Rollbots, granting token owners with passive returns.
The RLB Lottery has undergone changes too. Previously a paid endeavor, it’s now a free to play Web3 Lottery, opening doors to a larger audience and potentially bolstering user interaction. Additionally, an evolving update mechanism for the RLB Lottery pool has been put in place to ensure fairness among participants.
In line with transparency and efficiency, automation of token burns on the blockchain is on Rollbit’s future agenda.
However, for all the optimism these changes have generated, there are underlying reservations. Queries have emerged about the exact nature of the burns – is it based on total revenue or profits? – and the precise mechanisms involved.
In a related update, Rollbit’s in-house $RLB token, which recently accounted for 0.13% of Ethereum network transactions, has found its way onto the crypto exchange, Poloniex. This move correlates with the token’s revival, as its price bounced back from a dip to $0.10, touching a recent peak of $0.129 in July.
Implications for the iGaming Industry
- This transition highlights a possible shift in the community’s focus from meme coins to projects with deeper substance, like some successful ones we have seen recently.
- The iGaming industry might experience a trend where tokenomics overhaul becomes a standard practice to boost token value and engage users.
- Transparency in revenue models and burn mechanisms may become a more significant iGaming trend in 2024, according to the demand from investors and enthusiasts alike in the wake of Rollbit’s changes.
In summary, as Rollbit steers its tokenomics in a new direction, the ripples are felt throughout the iGaming industry, hinting at an evolving landscape where transparency, innovation, and user engagement are paramount.