$RLB - CT's Most Controversial Casino
A in-depth review of Rollbit, The Crypto Casino
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Rollbit is a casino that offers casino games, sports bets, a NFT marketplace (including NFT loans), and most importantly, a crypto futures exchange where you can leverage up to a 1000x in predicting whether the price will go “up” or “down”. It also has a spot crypto portfolio option, allowing users to buy select spot tokens. Their newest feature, Degen EXchange, features on-chain coins such as OX (Su’s New Exchange), HarryPotterObamaSonic10Inu and Unibot.
Launched in 2020, Rollbit has a native token $RLB. It had no ICO – the entire supply was distributed via an airdrop to users, and people who bought their NFTs (Rollbots).
Max Supply: 5,000,000,000
Total Supply: 3,296,951,622
Circulating Supply: 3,296,951,622
Market Cap: $485,237,627 (#66 on Coingecko)
Rollbit’s Relative Performance:
Buy & Burn
Rollbit’s largest catalyst is it’s buy and burn mechanism – it uses a portion of its daily revenue to buy and burn $RLB. More specifically, it uses profits from 3 different revenue streams to purchase $RLB, namely:
30% from the 1000x Crypto Futures Vertical
20% from the Sportsbook Vertical
10% from the Casino Vertical
Above is a picture of the breakdown of Rollbit’s annualized burn. In 1 year, they buy back 13% of the market cap – and in all honesty, that’s a negligible amount. If you’re an investor, you’re assuming market cap goes up – in which case, the annualized burn goes down. For all intents and purposes, the “buy back and burn” is an effective ponzinomic catalyst, but in actuality has negligible implications in the shorter term, especially less so if you believe price will go up.