In this article, we will demonstrate how to deposit and withdraw Rollbit Coin, our own Solana-based cryptocurrency (RLB).
What exactly is RLB?
Rollbit Coin (RLB) is the entrance ticket for our lottery, in which 20% of the casino’s income are distributed between regular lottery prizes and the jackpot (split 70:30). Every 100 Bitcoin blocks, there is a lottery round in which 100 fortunate participants receive rewards.
Each lottery round asks you to stake RLB, with a 0.20 percent staking cost. After each lottery round, the remaining half of the staking money will be redistributed among staked Rollbots. The bigger the RLB wager, the better the likelihood of winning.
Check read the whitepaper to learn more about RLB.
How Do I Get RLB?
There are several ways to earn RLB on Rollbit:
1. Participate in our holiday giveaway!
Those having a Rollbot associated with their profile will get twice the RLB prizes for completing the tasks. You may also get a larger RLB compensation if you are among the first 100 individuals to finish the challenge (with each challenge released at 00:00 UTC for every day in December). Also, one fortunate individual will receive a Rollbot each day of December!
2. Buy and stake Rollbots!
Throughout the month of December, RLB will be airdropped to each Rollbot based on the rarity of its eye attribute. Rollbots must bet at any moment throughout the month in order to collect their RLB portion. After being claimed, your Rollbot will be unavailable for staking until January 1, 2022.
Based on the rarity of the eye characteristic, half of the lottery entry price will be redistributed among Rollbot holders.
3. Earn RLB for NFT remittances
We have added RLB incentives for depositing specific NFT collections as of December 14. Get up to 100,000 RLB with every NFT deposit!
How to Withdraw RLB – Deposit and Withdraw RLB
Phantom is a web wallet (similar to MetaMask) that allows you to store, transmit, and receive the Solana network’s native coin SOL, as well as additional network currencies like as RLB, USDC, SRM, ATLAS, etc.
After downloading the Phantom wallet, you should record your seed phrase and use a strong password.
To add tokens to Phantom, go to ‘Manage Token List’.
Type “RLB” in the search field and click “Add” to add it to your wallet. You may now see your RLB balances and send RLB. Moreover, you must include the SOL token (which will be necessary to pay the transaction fees when sending RLB).
When a bigger proportion of the RLB supply is utilized to enter lotteries, a greater proportion of coins will be burnt, contributing to the increase in value. Due to the deflationary nature of RLB, you may choose to divide your holdings into two parts:
- A stack of RLBs for participation in our lottery.
- Another RLB stack for long-term HOLD.
To withdraw your Rollbit balance, copy the RLB address from your Phantom wallet before proceeding. Choose ‘Withdrawals’ and then ‘Rollbit Coin (RLB)’ from the ‘Deposit’ menu.
Insert your RLB address from your Phantom wallet into the’receiving Rollbit Coin address,’ input your 2FA code, then choose the amount of Rollbit coins you want to withdraw.
Deposit and Withdraw RLB
A tiny network charge will be needed to withdraw RLB, therefore make sure you have sufficient funds (less than $1) to pay the transaction fee. After the ‘Request Withdrawal’ button has been selected, a message will appear and the network charge will be withdrawn from your account balance.
When the transaction is verified, the money will be transferred to your wallet and show in your balance (typically less than 10 seconds). After that, you will be allowed to transmit RLB to exchanges. RLB is now listed on Dexlab, where it can be traded for USDC, and other exchange listings are imminent.
To begin using Dexlab, you must first link your wallet and have at least 0.03 SOL in your Phantom wallet in order to submit orders. Choose “Connect your wallet” and confirm the operation in Phantom. Thereafter, your account balances will be shown on Dexlab.
Use the search box in the upper-right corner to locate the RLB/USDC market.
To quickly sell RLB, you must match an existing purchase order in the order book. Enter the price discovered at the best bid (that is, the purchase order with the highest price in the order book) and the quantity of RLB you want to sell on the sale page. If you click sell, Phantom wallet will prompt you to confirm the operation, and a notice will display once the order has been performed.
To conclude the transaction, you must settle the USDC balance. Scroll to the bottom and choose Settle, then confirm the action inside Phantom. The USDC will thereafter be accessible for trading on Dexlab (or to use as you wish).
How to Deposit RLB – Deposit and Withdraw RLB
Currently, RLB may be purchased through Dexlab and then transferred to Rollbit in order to participate in the lottery. When purchasing RLB, we suggest waiting until around 77% of the entire supply has been allocated to Rollbot holders.
To purchase RLB on Dexlab, you will need some USDC and at least 0.03 SOL. As demonstrated below, while purchasing RLB, you must match to the best offer (the sell order in the order book with the lowest price). When the operation has been validated in the Phantom wallet and the transaction has been conducted, the RLB balance must be settled.
To send RLB to Rollbit, go to ‘Deposit’, pick RLB, and copy the corresponding address.
Deposit and Withdraw RLB
Copy the deposit address from Rollbit and put it into the ‘Recipient’s RLB Address’ area in the Phantom wallet. Choose the quantity of coins you want to transfer, then click ‘Send’ (note that a small amount of SOL will be needed to cover the transaction fee). After confirmation of the deposit, the RLB will be credited to your account.
RLB will shortly be listed on major exchanges in order to enhance liquidity and price discovery.