Rollbit Coin update: RLB Live price, price chart, news and markets

The RLB price update as of now is $0.1299. In the previous 24 hours, its trading volume was $2,052,505, and its value has increased by 11.99%. As of now, RLB's live market cap is $303,078,361, and it is ranked as the #1025 on the Coincu. RLB has a circulating supply of 0 and a maximum supply of 0.

What is RELBITCOIN (RLB)?

RELBITCOIN (RLB) is a token that was launched as an essential component of the Rollbit lottery. Unlike other tokens, RLB did not have an initial coin offering (ICO) and instead, it was airdropped for free to existing users of Rollbit.com, the casino and trading platform.

How Does the RELBITCOIN Lottery Operate?

The RLB lottery is specifically designed to generate demand for the token. It serves as entry tickets for participants who have the opportunity to win a share of the casino's profits. To enter the lottery, participants must stake their RLB tokens.

Where Do the Prizes for RELBITCOIN Lottery Come From?

The prizes for the RLB lottery are sourced from Rollbit's profit sharing pool. Each round, 20% of the casino's profits are accumulated and distributed as prizes among the winners of the lottery.

What Contributes to the Value of RELBITCOIN?

RELBITCOIN (RLB) holds value from its inception as an essential part of the lottery. With prizes being funded by Rollbit's profits, RLB holders can benefit from the casino's success. Furthermore, the supply of RLB is limited to 5 billion coins, and each lottery round permanently removes RLB from circulation. This gradual decrease of supply over time supports the growth in value of RLB.

What Happens to the Staking Fees in RELBITCOIN Lottery?

In order to participate in the lottery, RLB tokens must be staked each round. Half of the staking fee, which is 0.20%, will be burned, permanently reducing the token supply. The other half of the staking fees will accrue to staked Rollbots, which is Rollbit's NFT project.

What is the Burn Rate of RELBITCOIN?

Once all RLB tokens are staked, there will be a burn rate equivalent to 45% of the total supply per year. This means that a significant portion of the tokens will be burned as more RLB is staked for the lottery. As the supply decreases and the demand for RLB increases, this exert upward pressure on the price of RLB.