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October 4, 2023

EarnBet: Revamping Tokenomics for Growth and Prosperity

Aria Mitchell
Written byAria MitchellWriter
Researched byNikos PapadopoulosResearcher

EarnBet, a decentralized casino, is set to revamp its tokenomics, ushering in a new era of growth and prosperity for its community and investors.

EarnBet: Revamping Tokenomics for Growth and Prosperity

Transitioning to a Buyback Program

EarnBet is making a major shift in its tokenomics by transitioning from traditional dividends to a buyback program. This move aims to eliminate the hassle of monthly claims for token holders while increasing buying pressure, creating a more vibrant ecosystem. The buyback program will commence on Uniswap.

Revenue Sharing Realignment

To ensure transparency and fairness, EarnBet is realigning revenue sharing based on the source of income. Both in-house and third-party games will contribute to a revenue pool, with 80% dedicated to operational costs and 20% channeled into the Buyback Program.

Dual Purpose of Bought-back Tokens

The tokens bought back through the program will serve a dual purpose. Firstly, a portion will be permanently removed from circulation, reducing the overall supply and increasing scarcity. Additionally, these tokens could fuel strategic marketing campaigns and promotions, accelerating EarnBet's growth trajectory.

Staking and Locking Tokens

Staking and locking tokens will remain integral to the EarnBet experience. The revamped website will offer numerous perks for staking tokens, from increased rewards to exclusive access to games and features. Account migration will preserve staked tokens, providing continuity for existing users.

Transition to EBET Token

EarnBet is introducing a new token ticker, EBET, simplifying communication during and after the transition period. The transition involves a straightforward process of migrating accounts or depositing BET tokens, which will be seamlessly converted into their equivalent value in EBET tokens.

Optimized Token Distribution

Furthermore, EarnBet is optimizing token distribution by strategically allocating team tokens and a fraction of undistributed tokens to categories such as Exchanges, Promotions, and Staking bonuses. A controlled burn process for the remaining undistributed tokens will promote a more stable token ecosystem.

Consolidation on Ethereum Blockchain

Simplifying its presence, EarnBet is consolidating on the Ethereum blockchain, making it easier for users to track and manage their tokens. Users on the WAX chain will need to migrate their accounts to the new website within a specified period, ensuring a smooth transition.

Seamless Account Migration

To migrate their accounts, users are required to register on the new EarnBet website once it goes live. By following a few straightforward steps under the “Link Legacy Account” section, users can securely transfer their existing balances, including staked BET tokens. The process ensures a seamless transfer, allowing users to preserve their account data and assets effortlessly.

Engaging with the Community

As part of their commitment to engaging with the community, EarnBet is inviting larger investors to their Discord, offering an exclusive space for discussions, previews of upcoming releases, feedback opportunities, and direct communication with higher management.

About the author
Aria Mitchell
Aria Mitchell
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From Rotorua's scenic landscapes, Aria Mitchell shines as New Zealand's leading expert in localizing online casino content. Marrying Kiwi essence with global gaming insights, she's the name trusted nationwide.

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