Rollbit, a crypto gaming platform, has announced a new Buy and Burn strategy to reduce the supply of RLB tokens and increase their demand and scarcity.
A portion of Rollbit’s daily revenues will be used to purchase and destroy RLB tokens, the platform’s native utility token.
The initiative, according to the co-founder of Rollbit.com and active Twitter user @Lucky_Rollbit, marks a new phase for RLB tokens.
Introducing Rollbit’s New Strategy
According to the announcement, Rollbit will allocate varying percentages of its revenues from various segments of its platform to the Buy and Burn program.
Specifically, 10% of the casino, 20% of the sportsbook, and 30% of the 1000x Futures revenues will be used to buy and burn RLB tokens.
The main objective of this program is to create a scarcity effect for RLB tokens by reducing their available supply.
This will, in turn, increase their demand and value and reward the loyal token holders.
The Buy and Burn program will positively impact the tokenomics of RLB tokens, which users can stake, receive from airdrops, provide liquidity for mining, or participate in the lottery.
A Transparent Way to Monitor RLB Token Value
Rollbit has also introduced a new revenue dashboard that allows users to monitor the income stream of the platform in real-time. This feature enhances transparency and accountability and provides insights into the value of RLB tokens.
Users can see how much revenue is generated from each segment of the platform and how much is allocated to the Buy and Burn program.
Additionally, Rollbit has implemented some measures to guarantee a balanced and stable ecosystem for RLB tokens.
For instance, Rollbit will update the revenue pool from the RLB Lottery hourly to provide accurate information to the participants.
In addition, the staked Rollbots will be locked for 30 days, preventing sudden liquidation and price volatility.
Participate in Staking, Airdrops, Lottery, and More
RLB token holders can enjoy various benefits from Rollbit’s ecosystem. For example, they can stake their tokens and earn 10% of their purchased amount per hour.
They can also participate in the RLB Lottery, which is now free for everyone, and win prizes. Furthermore, they can receive free RLB tokens from airdrops or provide liquidity to mining pools.
Rollbit’s co-founder @Lucky_Rollbit said that the platform is also working on automating the burns on-chain in the future, which will improve efficiency and transparency.
He also thanked the community for their support and feedback.
RLB tokens are currently trading at $0.12, up 8.7% in the last 24 hours, according to CoinMarketCap. They have a market capitalization of $12 million and a circulating supply of 100 million tokens.
