Crypto gambling platform Rollbit’s native token RLB is leading the digital asset markets as it breaks another all-time high.
RLB is currently up over 103% in the last week, and 50% in the last 24 hours, outperforming virtually all other crypto assets at time of writing.
Rollbit is an online platform that offers up to 1000x leverage to bet on casino-style games, sports, cryptocurrencies and other instruments.
Its utility token RLB started 2023 at $0.002, and is now trading at $0.159, roughly a 7850% gain year to date.
On Tuesday, the project’s pseudonymous co-founder “Lucky” announced that Rollbit would be changing the tokenomics for RLB.
According to Lucky, the Rollbit team is aiming to make RLB the cornerstone of the platform’s ecosystem by launching a new buy-and-burn feature that will take portions of revenue and use it to purchase and then destroy RLB tokens every day, theoretically helping to strengthen the token’s price.
Lucky says that 10% of Rollbit’s Casino, 20% of its Sportsbook, and 30% of its 1000x Futures revenue will be used for RLB’s buy and burn.
“Rollbit has managed to thrive the last several years, regardless of market conditions, due to the diversity of our products. Bull or Bear, our hybrid offerings have allowed us to generate consistent revenue.
Combining Buy & Burn with Rollbit’s provenly successful business model, along with RLB’s existing tokenomics, should give RLB a unique value proposition to its holders.
We believe today’s update will go down in the Rollbit history books as the most significant feature we have ever released.”
RLB hit an all-time high of $0.179 earlier today, and is currently sitting at a market cap of $518 million.
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