The Rollbit token (RLB) was launched as an integral part of the Rollbit lottery. There was no ICO for RLB. Instead, Rollbit have airdropped RLB for free to existing users of it's casino and trading platform, Rollbit.com
The RLB lottery will drive the demand for the token, acting as entry tickets that give holders the chance to win a share of the casino’s profits. RLB tokens must be staked to enter the lottery.
The prizes will come from our profit sharing pool, where 20% of all the casino’s profits on a daily basis will accumulate over the course of each round.
By having a proven product and with Rollbit already running at a profit before launching the token, RLB provided utility from day one by being an integral part of the lottery, with prizes coming from a share of Rollbit's profits.
The supply of RLB is capped at 5 billion coins. To access the lottery, RLB must be staked in each round where half of the 0.20% staking fee will be burned (i.e., permanently removed from the supply).
Since each round will see RLB permanently removed from the supply, the number of tokens in circulation will gradually fall over time, helping to support value growth. The other half of the staking fees will accrue to staked Rollbots, Rollbit's NFT project.
When all RLB tokens are staked, there’ll be a burn rate of 45% of the total supply per year. As more RLB is staked, this leads to a greater reduction in supply as a higher number of tokens are burned to enter the lottery. And as demand increases over time, this puts upward pressure on the price of RLB.