Crypto casino Rollbit recently took to social media platform X to announce the shutdown of its trading platform, Degen EXchange.
After launching on August 17 with pilot tokens like RLB and UNIBOT, the crypto casino Rollbit has chosen to shut down its degen exchange due to “uncertainty and low adoption.”
Although token sales and withdrawals are still available, Degen exchange users can no longer purchase assets on the platform, according to the team. Rollbit’s co-founder, the eponymous Razer, stated that the company sees volume in the futures market and that futures trading will continue.
Additionally, Rollbit shut down its Rollbot platform, which was largely utilized to offer non-fungible tokens (NFTs) from the casino. However, this action has no impact on the company’s NFT collections.
It’s crucial to emphasize that we are implementing these separate changes to strengthen and protect our company. Our primary products, Rollbit.com, $RLB, and our NFT collections, have stayed the same.
On August 17, Razer unveiled five pilot tokens for Rollbit’s degen exchange, including the casino’s own RLB token, OPNX’s OX coin, Telegram bot UNIBOT, and BITCOIN (not to be confused with the top cryptocurrency token).
At the time, Razer stated that “buying and selling tokens shouldn’t be complicated”, and that Rollbit’s exchange aspired to develop into “the crypto platform for everything” by relying on an automated market maker system and boosting trending token liquidity.
It’s likely that waning user activity on Rollbit’s degen exchange was caused by waning interest in speculative tokens and altcoins. What exact regulatory U-turn took place in the past month that caused Rollbit to reconsider is not evident.
At the time of publication, the site debuted in February 2020, and is among the biggest crypto casinos available. According to reports, Lazarus from North Korea attempted a cyberattack against Stake, one of Rollbit’s competitors.
Stake had $41 million worth of digital assets stolen by Lazarus, who then transferred the money to other networks and launched more vulnerabilities like the CoinEx hack.
