Rollbit Coin (RLB)
Rollbit Coin (RLB) was launched as part of the Rollbit Lottery, a feature of Rollbit, a crypto casino. It serves as a deflationary utility token within the Rollbit ecosystem, offering users access to exclusive features and bonuses. Rather than a traditional ICO, RLB was distributed through airdrops to encourage community engagement and reward early participants. Initially launched on Solana, RLB migrated to Ethereum in June 2023 to enhance user experience. A significant shift occurred in 2023 with the 'Buy & Burn' event, refining its deflation mechanism.
| Ticker | RLB |
| Category | Gambling (GambleFi) |
| Website | https://rollbit.com/referral/coingeckoref |
| @rollbitcom | |
| Contract Addresses | |
|---|---|
| ethereum | 0x04...3d Copied! |
Utility
Increased rakeback
Rollbit offers a casino rewards program where RLB holders can enhance their rakeback while participating in casino activities. Rakeback is a portion of the house edge returned to players. By holding $100 worth of RLB, players can increase their rakeback by up to 10%, achieving a potential total of 15%.
Reduced trading fees
Rollbit's crypto trading platform, boasting over $100 billion in trading volume, offers features like 1,000x leverage, zero slippage, and social features. Holding RLB tokens provides traders with exclusive fee reductions, determined by the amount of RLB held and the selected fee structure.
RLB Lottery
The RLB Lottery uses RLB tokens as entry tickets for lotteries with cash prizes. Prize pools are funded from Rollbit's casino earnings, and holding at least 10 RLB qualifies for entry. More RLB increases the chance of winning. Lottery rounds align with Bitcoin block times and include two draws: one for the lottery and one for the jackpot. Prizes are awarded in USD, with a limit of one prize per round.
Providing liquidity
Users can become liquidity providers for RLB trading on Rollbit by contributing equal amounts of RLB and USD to pools. These pools generate passive income from trading fees. Users can maintain up to three active pools, each needing a minimum combined size of $1,000.
History
RLB's journey began on November 10, 2021, with its first airdrop, offering bonuses to both existing and new Rollbit users. On November 25, 2021, the RLB Lottery launched, allowing holders to stake RLB for a share of casino profits, marking the second RLB airdrop. By December 1, 2021, the RLB Lottery concluded with significant prizes, and the jackpot rolled over, resulting in a prize pool exceeding $500,000. Subsequent developments included changes to prize distribution, the introduction of NFT VIP Passes, and a Christmas airdrop distributing over $700,000 and 70,000,000 RLB.
Rollbit continued to refine its offerings, introducing RLB Lottery Multipliers and Teams, enhancing participation and increasing RLB burning. By January 2022, the RLB Lottery Jackpot surpassed $1,000,000. Rollbit conducted several RLB Burn Events to reduce supply and initiated an airdrop to Solana addresses. New features like RLB Liquidity Pools were added in 2023, and RLB migrated to Ethereum in June. RLB became free-to-play in August 2023, with updates to the RLB Lottery and trading fees.
Airdrops
First RLB airdrop
On November 10, 2021, RLB's first airdrop included multiple bonuses for users depositing cryptocurrencies or NFTs into Rollbit. Retroactive bonuses were awarded for previous deposits, and new deposits earned additional RLB. Bonuses were also tied to wagering on X-Crash, a betting game.
Second airdrop
The second airdrop occurred on November 25, 2021, coinciding with the RLB Lottery launch. RLB holders could stake tokens for casino profit shares. Rewards were based on claims for Rakeback, Cashback, and Rollback, marking the end of bonuses tied to X-Crash wagering.
Third airdrop
On December 1, 2021, the third airdrop rewarded staked holders of Rollbots, an NFT collection serving as a VIP membership. Distribution was based on the Rollbot's eye trait.
RLB airdrop to Solana addresses
On February 2, 2022, Rollbit conducted an airdrop to active Solana addresses to raise platform awareness, starting with small amounts of RLB.
Airdrop via Ukranium Sportsbot
On March 16, 2022, Rollbit held an auction for a special Sports Rollbot named 'Ukranium' to support the Ukraine war effort. The auction winner received a 10,000,000 RLB prize as part of the package.
Crypto influencers' involvement with RLB
Gainzy
On September 18, 2023, crypto influencer Gainzy switched sponsorships from Rollbit to Stake.com, aligning with rapper Drake. This move impacted RLB's market activity.
Grizzly
Grizzly, a respected crypto community figure, analyzed Gainzy's transition, highlighting his RLB transactions. Grizzly's insights shed light on the role of influencer sponsorships in the crypto market.
Lucky
Rollbit Coin owner "Lucky" announced a new bonus structure for partners, offering influencers promoting RLB the chance to earn $250,000 in tokens if RLB maintained a specified value for a week, contingent on regular organic tweets supporting RLB.