Its buy-and-burn program, launched 21 weeks ago, has removed nearly 40% RLB tokens from the circulating supply.
The Rollbit ecosystem had a strong financial performance in December 2023, recording $58 million in revenue, compared to $56 million in November 2023. The casino business revenue soared to $42.6 million, compared to $38.3 million.
The crypto futures revenue stood at $10 million - one million lower than the previous month, and the sports betting revenue was $5.9 million, compared to $6.6 million in November 2023.
In the 30-day period, Rollbit burned 50.7 million RLB tokens, which were worth $7.6 million. This brings the total number of destroyed tokens to 1.98 billion, which is 39.8% of the original supply. At the end of December 2023, the total circulating supply of RLB was 3.01 billion.
Market Cap Surpasses $500 Million
In a report, Alpha Sigma Capital disclosed that Rollbit’s year-to-date (YTD) revenue at the end of October 2023 amounted to $355 million, pushing the company’s valuation beyond the $500 million mark.
“In the past 30 days, Rollbit has generated $41.7 million in fee revenue, equating to an annualized rate of $508 million. This positions Rollbit as the third-highest earner among all cryptocurrency protocols and platforms, trailing only Uniswap with $543 million in annualized fees and Lido with $529 million per Defi Lama.
Remarkably, despite these impressive figures, Rollbit’s market capitalization stands at a modest $505 million, in contrast to Lido’s $1.6 billion and Uniswap’s $3.2 billion,” said Alpha Sigma in its analysis.
RuneScape-Inspired Duel Arena
Recently, Rollbit introduced RuneScape-inspired Duel Arena with a 0% house edge. The arena allows players to engage in player-versus-player (PvP) battles with a minimum stake requirement of $10, which can be either in the on-site balance, $10 worth of RLB, or supported NFT collections like Bored Ape Yacht Club and CryptoPunks.
Rollbit employs a ‘Provably Fair’ system to ensure the fairness and integrity of each duel. The launch of Duel Arena was celebrated with a giveaway of $500k to players wagering on supported NFT collections.
