Blockchain Bets — Tokenomics
In my first article I started by providing a general introduction into Blockchain Bets and what the token is, which in part touched on the tokenomics and why there is so much potential with this project. This article will do a deep dive, detailing why their business model is one of the smartest I’ve seen in the crypto space.
1 Billion Tokens — The Breakdown
Blockchain Bets has a total of 1 billion tokens, which can be broken down as follows:
- 878m in Circulation
- 122m Burned
- 35m in Exchange Reserves (From Circulation)
It is very rare that a project would release 878m tokens to be purchased by the community at such a low entry price, but it’s also genius. The developers are part of this community, and the community itself has grown to over 2000 holders within the space of 2 months.
The token burn volume was determined based on engagement with the platform over the first month. Due to engagement being significantly higher than initial targets, a higher token burn was completed. This resulted in 12.2% of the total token volume being removed from the circulating supply forever.
The 35m $BCB in Exchange Reserves is to ensure marketing and development can continue and enable the project to grow at it’s current rate, which quite frankly, has been phenomenal.
Staking
$BCB holders can opt to stake their tokens into the Blockchain App directly, in order to receive $BCB in return, in addition to stable coins as airdrops. To date, currently 380m $BCB, or 43% circulating supply has been staked into the platform. This leaves a circulating supply of 502m $BCB, almost half the initial 1b total supply.
Why stake? or even more importantly, why is staking so popular? Well this is where things get interesting. Blockchain Bets is the first, and only platform of its kind that offers a staking programme that provides 100% of the profits directly to stakers. Therefore, any profit made on the platform, whether that be though the casino, arcade, sportsbook or degen mode, all goes back to the community.
To further promote token lock up, there is a 10% emergency exit fee if you opt not to wait to complete your minimum stake period. The periods for staking are either 7 day or 30 day stakes. If someone does exit early, the 10% fee does not go to the platform, it goes directly to the staking pool to further reward the community. Therefore, think of it as a bonus for continuing to lock your tokens up where others may not. After all, diamond hands are better than paper hands. I’ve given a glimpse of my personal staking experience to date below:
Token Tax
$BCB do implement a Sell Tax on their token. There is no Buy Tax, but to sell your token you will need to pay a 5% Sell Tax. This 5% is recycled back into marketing and development. There are a few reasons why this is important and of great benefit to the project:
- It encourages holding of tokens and in turn, staking of tokens, which will help to ensure that there is a high demand for $BCB, and an ever decreasing supply of $BCB available on the market. This will ultimately lead to positive price movement
- Weak hands selling their $BCB becomes a benefit to the development of the project. The 5% Sales Tax provides good capital income for the project, ensuring the team have the finances to continue to enhance the platform and offer to the community, but also in helping to onboard the wider population. Any excess capital obtained here provides more marketing opportunities and/or onboarding offers to customers.
Development
The development team have already delivered a fully operational casino, arcade and sportsbook for customers to engage with. This includes over 4000 casino and arcade games, multiple sports with ever expanding markets and selections to bet on and specific betting modes such as Degen Mode which can provide enhanced odds on your selection (As seen below with Jake Paul vs Tommy Fury).
Basically, they are building quality, extremely fast, which is why Blockchain Bets will be one of, if not the sector leader in decentralised gambling.
Community
Possibly the most undervalued cog when tokenomics is discussed, but the community really are at the heart of this model. When you have a community that are fully engaged and acknowledge that they are part of the journey, you get significant buy in from investors. I am a prime example of that, having invested around 1 month ago, and now writing educational articles. This community understand the earning potential this project can bring, and know the current price is a steal. They are also relentless in promoting this project on social platforms as they understand the impact they can have.
Steve Jobs once quoted “Great things in business are never done by one person; they’re done by a team of people.” Well, what about a group of 2000+ holders that are growing by the day?
To summarise what I have detailed above, the below is what has started to happen, and will continue to happen over the coming months which will mean $BCB will likely see significant, positive price action:
- When staking rewards are claimed, if the current price remains, a significant volume of the remaining circulating supply will be bought up by the 2000+ holders currently invested, because they’ve done the math.
- Half of the circulating supply has been locked or burned within 2 months by 2000+ holders. How long do you think it’ll take for 43% staked to become 60–70% staked? Based on the returns the community are already receiving from the platform, I honestly expect to see 70% staked within 6 months.
- When the platform onboards more customers, the platform’s earning potential will increase, meaning that stakers will receive a higher return per token. The only way they won’t, is if the % staked is moving quicker than the platform profit. Either way, this will lead to positive price movement as either the returns are so good people buy more, or they stake so much it increases the price of the token as less is available on the market. it’s likely to be a beautiful combination of both.
- When the price increases and people wish to sell for profit, they will be subject to the 5% Sell Tax. This will allow the developers to spend more money on marketing and development. This will lead to positive price movement as spending more on marketing, will correlate to an increase in customer onboarding.
- There are some long term holders who like me, will not be selling their $BCB until the token is worth between $1–10 per token. For those that have done the math and have seen the opportunity presented here, understand that it’s not a matter of if, but when.
When you take the time to read the above, you now understand why the initial circulating supply to be distributed and bought by the community was such a genius idea. This is why I note that the community are the heart of the project, and they will live and breathe the success that is coming.
Where to Buy Blockchain Bets
Uniswap: https://uniswap.org/
BKEX: https://www.bkex.com/trade/BCB_USDT
BitMart: https://www.bitmart.com/trade/en-US?symbol=BCB_USDT&layout=basic
MEXC: https://www.mexc.com/price/BCB
Key Contact Information
How to get involved with Blockchain Bets:
BCB Twitter: @BCBerc20
BCB Telegram: t.me/BCBerc20
BCB Main Website: blockchainbets.app
BCB Betting Website: blockchainbets.club
BCB Staking Website: staking.blockchainbets.app
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