The Rollbit token (RLB) was introduced as a fundamental part of the Rollbit lottery system. There was no Initial Coin Offering (ICO) for RLB. Instead, Rollbit opted to airdrop RLB for free to its existing users on the casino and trading platform, Rollbit.com.
The Rollbit lottery aims to boost the token's demand, with RLB tokens serving as entry tickets. These tickets give holders a chance to win a portion of the casino's profits. To participate in the lottery, holders are required to stake their RLB tokens.
Prizes are drawn from a profit-sharing pool, consisting of 20% of the casino's daily profits, which accumulate over each lottery round.
Having already established a profitable operation before the token's launch, Rollbit integrated RLB from the start as a crucial component of the lottery, with rewards derived from Rollbit's profit share.
The total supply of RLB is capped at 5 billion tokens. To join the lottery, RLB must be staked in each round, and half of the 0.20% staking fee will be burned, meaning it's permanently removed from circulation.
Since each round reduces the number of tokens through burning, the circulating supply will gradually decrease, potentially supporting the token's value over time. The remaining half of the staking fees goes to staked Rollbots, Rollbit's NFT project.
If all RLB tokens are staked, the burn rate would be 45% of the total supply annually. Greater staking results in more tokens being burned for lottery access, which, as demand rises, could increase RLB's price.
What is Rollbit Coin?
Rollbit Coin (RLB) is a cryptocurrency that operates as a utility token within the Rollbit platform, which is a leading crypto casino and trading site. Launched in February 2020, RLB was created to offer numerous advantages to its holders, enriching their platform experience. These benefits include enhanced rakeback, lower trading fees, and the ability to participate in the RLB Lottery, a distinctive feature that enables token holders to claim a share of the casino's earnings.
The rollout of RLB bypassed an Initial Coin Offering (ICO) or Over-The-Counter (OTC) sales. Instead, it was distributed via an airdrop to current platform users, ensuring a broad and equitable distribution from the start. This approach highlights the platform’s dedication to rewarding its community and encouraging involvement in its ecosystem.
A significant use for RLB is its involvement in the RLB Lottery. To take part, holders must stake their tokens, granting them lottery entry and contributing to a profit-sharing pool. This pool collects 20% of the casino's daily profits, which are then shared among the lottery winners. This setup creates a direct connection between holding RLB and the potential financial rewards stemming from the platform's prosperity.
Additionally, the supply of RLB is capped at 5 billion tokens, with some of them being burned (permanently taken out of circulation) as part of the staking process for lottery participation. This burn mechanism aims to gradually decrease the total supply of RLB over time, potentially aiding in the token's value growth as demand rises and supply shrinks.
The Rollbit platform has shown considerable traction, with over 1 million registered users and $5 billion wagered, indicating a solid foundation for RLB’s utility and potential value. As the platform keeps expanding and evolving, RLB holders might discover increased utility and engagement opportunities within this ecosystem.
Before investing in RLB or any cryptocurrency, it's essential to carry out thorough research and understand the inherent risks tied to digital assets.
How is Rollbit Coin secured?
Rollbit Coin (RLB) employs a comprehensive security approach that involves several strategies to protect the ecosystem's integrity and the safety of its users. Initially, RLB tokens are allocated through airdrops to platform users, encouraging participation while enhancing the security of token distribution. This method sidesteps risks linked to initial coin offerings (ICOs), such as fraud and regulatory challenges.
To further bolster security, RLB tokens should be kept in a cryptocurrency wallet, giving users control over their assets and minimizing risks from centralized exchanges. The requirement to stake tokens for lottery participation adds another security layer. Staking involves locking tokens in a smart contract, which secures them and contributes to the network's overall security and stability.
Conducting security audits is another vital part of RLB's security framework. Independent third parties perform these audits to identify any vulnerabilities within the smart contracts and overall platform. Rollbit addresses these issues proactively, enhancing the ecosystem's security against potential exploits.
Features aimed at preventing fraud and ensuring responsible gambling are also key to RLB’s security measures. These features safeguard users from harmful activities and create a safe, fair environment for gambling and trading.
Moreover, the tokenomics of RLB, including a fixed supply of 5 billion tokens and a mechanism for burning some of the tokens during each lottery round, play a crucial role in maintaining security and economic stability. The burning process diminishes the total supply over time, potentially increasing scarcity and value while ensuring a steady demand and supply cycle.
In summary, the security of Rollbit Coin is maintained through a blend of airdrops, proper storage practices, staking, regular security audits, anti-fraud measures, and a well-thought-out economic model. These elements collectively shape a robust security framework for the RLB ecosystem, protecting users' assets and upholding the platform's integrity.
How will Rollbit Coin be used?
Rollbit Coin (RLB) serves various purposes within its ecosystem, addressing a diverse range of user needs and boosting the platform's overall utility. Primarily, RLB acts as the gateway to the Rollbit lottery, a unique aspect allowing token holders the chance to win a portion of the platform's profits. Users must stake their RLB tokens to enter this lottery, which not only gives them access to potential rewards but also influences the token's demand and market value.
Besides the lottery, RLB is critical in lowering trading fees for users engaged in different trading activities on the platform. This makes trading more cost-effective and promotes more frequent transactions, benefiting both users and enhancing the platform’s liquidity. Additionally, RLB holders receive increased rakeback, maximizing their returns from activities on the site.
The token also plays an essential role in providing liquidity to the platform. By staking RLB, users contribute to the platform's liquidity pools, facilitating smoother transactions and improving the overall trading experience for all participants. This mechanism is vital for maintaining a well-functioning and efficient market.
Another creative application of RLB is through the RLB Lottery, where staked tokens provide entry into a draw with opportunities to win substantial prizes. This encourages holding and staking the token while adding an exciting chance element to the platform's features.
Finally, the Buy & Burn mechanism is a crucial component of RLB's value proposition. A portion of the tokens used in transactions, particularly from staking fees, is permanently removed from circulation. This deflationary mechanism is intended to gradually reduce the total supply of RLB over time, potentially contributing to the token's value as demand grows.
Users are advised to do thorough research and consider their investment goals and risk tolerance before engaging in staking or trading activities with RLB or any other cryptocurrency.
What key events have there been for Rollbit Coin?
Since its launch, Rollbit Coin (RLB) has reached several notable milestones. Introduced in February 2020, RLB quickly established itself as a key player in the Rollbit ecosystem, particularly within its lottery system. Unlike typical initial coin offerings (ICOs), RLB was distributed through an airdrop, recognizing the existing community and fostering engagement with the platform’s offerings.
One innovative feature rolled out was the Bonus Battles, which added a competitive edge for user interaction. Additionally, the platform widened its scope with the RLB airdrop, further motivating participation and investment in the ecosystem.
The RLB Lottery is a central utility of Rollbit Coin, requiring tokens to be staked for entry. This lottery is more than a game of chance; it's a strategic component of the Rollbit platform, with 20% of the casino's daily profits going into the prize pool. This setup not only promotes demand for RLB but also aligns token holders' interests with the platform's success.
Moreover, the introduction of Challenges and Provably Fair In-house Games has broadened how users can interact with the platform, ensuring a lively and dynamic ecosystem. These features highlight the platform’s dedication to fairness and transparency, vital in building community trust.
The supply aspects of RLB are also significant, with a total cap of 5 billion tokens and a deflationary mechanism that involves burning tokens. This happens during each lottery round, where a portion of the staked tokens is permanently removed from circulation. This process not only reduces the overall supply over time but could also potentially bolster the token's value.
In conclusion, Rollbit Coin has established a unique place in the cryptocurrency world through its integration into the Rollbit platform's lottery and gaming features, strategic supply management, and community-oriented distribution model. As with any cryptocurrency investment, it's important to thoroughly research and understand the inherent risks before participating.
