LUCKNOW (CoinChapter.com) — Rollbit, a prominent crypto casino and exchange, has announced its decision to buy and burn its RLB tokens on a daily basis.
Based on the platform’s revenue, this strategic maneuver has caused a seismic shift in RLB token prices — it has propelled them to soar by nearly 100% in a week. The unprecedented move has garnered significant attention within the crypto community and beyond.
Recent data has unveiled that Rollbit’s revenue has surged past an impressive $2 million within a mere 24-hour period.
Once costs are accounted for, this substantial influx of funds will be channeled toward the daily acquisition of RLB tokens. The resultant impact on token value has been remarkable, capturing the fascination of investors and observers alike.
Innovative Platform and Unprecedented Leverage
Rollbit has carved a unique niche by offering users an innovative platform that facilitates token trading with an astonishing leverage of 1000x.
Beyond traditional trading, the platform has expanded its repertoire to encompass sports betting, arcade games, and even a tokenized jackpot. Surprisingly, the platform’s data reflect $2.5 billion worth of crypto futures traded exclusively on Rollbit within 24 hours.
Co-founder “Lucky” took to Twitter to elucidate the intricate financial architecture behind Rollbit’s ambitious initiative.
He revealed that the platform would judiciously employ a compelling 30% of all fees generated from crypto futures, 20% from sports betting, and 10% from casino games to purchase RLB tokens from the open market.
These acquired tokens will subsequently be obliterated from circulation through a well-thought-out burning process. This entails sending the tokens to an address beyond anyone’s control, effectively eradicating them from the supply.
Perpetual Buying Pressure and Unprecedented Growth
This strategic maneuver holds immense potential for perpetually exerting buying pressure on RLB tokens, assuming the continued growth of the platform’s user base.
Additionally, Rollbit has etched a remarkable trajectory this year, boasting exponential growth within crypto protocols. The symbiotic relationship between the platform’s well-received products and its alignment with market trends contributes to this success.
“Rollbit has managed to thrive over the past several years, irrespective of market conditions, owing to the diversity of our products,” Lucky said on Aug 9, adding:
“Whether in a Bull or Bear market, our hybrid offerings have enabled us to consistently generate revenue.”
