Today we are going to talk about a very good project, which should have a good chance, because it has just been launched on uni v3 and has a very strong momentum recently. It is Rollbit, a platform that combines cryptocurrency trading and gambling. One of its features is that it supports cryptocurrency trading with 1000x leverage. We actually know that leverage of more than 100x is actually no different from gambling, let alone 1000x. RLB was launched as a component of the Rollbit lottery. RLB has no ICO. Instead, Rollbit airdrops RLB for free to existing users of its casino and trading platform Rollbit.com. On uni, we found that its TVL has recently risen to 3.4 million US dollars, with a 24-hour trading volume of 6 million US dollars. The current market value has reached 300 million US dollars, and the market value ranking has reached the top 100 range. Of course, it may be that BLAD made a wave some time ago and cut a wave of leeks, because at that time everyone thought that BLAD was the top project of BASE, and BASE was endorsed by Coinbase. Then BLAD’s TVL on UNI also increased by 100 times in 1 day, and the BLAD token increased by 1,000 times. As a result, it ran away after 3 days. Because everyone thinks that this project can be listed on a centralized exchange and may rise sharply, we must also look at the project clearly when researching the project, and don’t be misled by various names. In fact, this project is the same. Because it was also newly listed on UNI, but this project was established very early. It started in 21 years, and it has been 2 years so far. Moreover, it is a gambling website, which itself has the attribute of being profitable.

Let's first take a look at its white paper, which is a simple 10-something pages in English, and then we'll take a look at its products;

Introduction

Launched in February 2020 by a group of entrepreneurs driven by a passion for online gaming, Rollbit has quickly grown into one of the leading online gaming companies. With over 1 million registered users, a $20 million valuation, $1 million in daily bets, and over $3 billion in total bets. From innovative casino products like bonus battles, to cryptocurrency derivatives trading, to NFT trading, Rollbit has become a recognized leading innovator in the gaming space.

Sources of income, including:

Bonus Battles: Exclusive to Rollbit, Bonus Battles adds a social component to the popular casino game, allowing users to purchase bonus buys and compete with other users for a chance to win the aggregated balance of the bonus buys.

Challenges: Another innovation pioneered by Rollbit, Challenges can be hosted by anyone, adding prizes to users who win casino games with high enough multipliers and bet sizes. These extra incentives increase the excitement of playing our already popular casino games.

In-house games: X-Roulette, Rollercoaster, and X-Crash; with more games in development.

Leveraged Crypto Trading: Rollbit users can trade 13 top cryptocurrencies with no bid-ask spread and up to x1000 leverage. The platform averages around $100 million in daily trading volume.

Cryptocurrency Portfolio: Buy, hold or sell the top 115 cryptocurrencies by market capitalization.

Rollboxes: The first provably fair gambling game launched by a casino with high-value NFTs as rewards;

Rollbot NFT: Our Rollbot NFT sale was a huge success, with the presale selling out in 25 seconds and the public sale selling out in less than an hour. With the launch of Rollbots, Rollbit became the first to offer VIP membership eligibility privileges to casinos through utility NFTs;

NFT Marketplace: In October 2021, Rollbit launched the NFT Marketplace, which reduces the cost of NFT transactions. A perk for Rollbot holders is to enjoy profit sharing from our NFT Marketplace, paid out weekly!

Token Economy

RLB acts as an entry ticket to the casino lottery, which gives holders a chance to win a share of the casino's profits. RLB tokens must be staked to purchase tickets. The bonus pools profits from RLB, 20% of which is the casino's daily profit. Approximately 50 million RLB have been distributed to existing users of the Rollbit platform. Most of the supply will be airdropped to the Rollbit accounts of Rollbot NFT holders. To access the lottery, RLB is staked in each round, of which 0.20% of the investment fee will account for half of the burn. Since each round sees RLB permanently removed from the supply, the number of tokens in circulation will gradually decline over time, helping to support value growth. The other half of the staking fees will accumulate to Rollbots. Eventually 45% of RLB will be destroyed.

distribute

The total amount is 5 billion, 22.875% of which will be airdropped, and 77.135 will be given to RLB stakers. The current price is $0.1. When I first went to uni, it was only $0.06, which is almost doubled. According to the current valuation, it is also worth about $500 million.

There are 31 different eye features (bots) across all 10,000 Rollbots. Every day in December 2021, RLB will be airdropped to Rollbit accounts that own a fixed Rollbots with a certain eye feature. Claim RLB, similar to how NFT market betting works. Each different bot will have a different form of reward (rare and common)

Then the white paper explains why it is a fair lottery system. (How can a gambling website be fair?)

First, you need to stake at least 10 RLB to enter the lottery system. Relying on the Bitcoin blockchain, the lottery start and winners will be announced every 100 blocks. Recently, Bitcoin's block time averages about 10 minutes, so the duration of each lottery is expected to be between 15-20 hours (but it is impossible to accurately predict the change of block time).

Lottery winners will always be paid out every 100 Bitcoin blocks, with 100 prizes paid out regularly, and the chance of winning depends on the amount of RLB the user has staked.

Every 100 Bitcoin blocks has a 0.1% chance of winning the jackpot. If the jackpot is not won, it will be rolled over to the next round and the prize pool increases until the jackpot is won. In February the jackpot will increase to 1% (subject to change in the future).

Finally, the winning mechanism, at least I didn't understand it very well. In short, before the block is generated, he designed a random block hash value and an optional user? Then the random encrypted hash will be displayed before the lottery starts. Then when the block reaches a certain level, you can know whether the user has won the prize. (Do you understand it? I don't understand it anyway), I don't have much time to test it on his website. If you are interested and understand it, please tell me.

Then let’s take a look at his data. Currently the total number of users has been on an upward trend, with more than 4,000 users.

Finally, let's summarize. At present, this project is on the SOL chain. Because gambling must be high-frequency, a high public chain must be selected for TPS, and SOL happens to be a high-speed public chain. Then I also saw a data that he said that his daily bets were 1 million US dollars (this data cannot be verified). Assuming this is real data, then its annual profit is as high as 3.6 billion, which is a bit exaggerated, and its current market value is only 300 million US dollars. There is also a risk that it is a gambling website, and many countries prohibit this, so there is still a certain risk, but you have to know that gambling is definitely not prohibited, but he uses blockchain to say that mine is an absolutely fair gambling website, but I don't understand his mechanism very well. Well, as for running away, with his current profitability, he will definitely not run away unless he is hit by a big country, because gambling is illegal in big countries (the United States, China, etc.). Well, I am not recommending you to go gambling. Today I mainly talked about a more interesting project. Is the combination of gambling and blockchain more interesting? Because we know that blockchain is open and transparent, and the biggest drawback of gambling is the dealer's manipulation, so can the combination of blockchain solve this problem well? This is actually worth discussing!