As an iGaming professional (product development within online sports betting and online casinos) for 10+ years, I have a special place in my heart for blockchain projects that has betting as part of the utility. One example of a blockchain gambling project that I have covered extensively is $BLINK.
Now I have turned my eyes on a different blockchain gambling project that just launched less than 24 hours ago.
The token is $RCUBE by Retro DeFi. Before we dig into technical aspects of this project, I just wanted to talk a bit about the synthwave looks and overall branding and packaging of this project.
A thing I often see in new projects is that they do a bad job with branding (still hoping that RocketMoon guys will wake up and put an effort into the packaging of their project). This is not the case of Retro DeFi and $RCUBE. They are doing a fantastic job. I might be a bit biased given that I really like synthwave stuff.
To put you in the mood of retro synthwave, put some Kavinsky on play while you are reading this $RCUBE Retro DeFi analysis:
Retro DeFi is another project running on the Binance Smart Chain. It is a BEP-20 token, ticker is $RCUBE. As such, benefitting from very low gas fees when buying and selling. And later, in the case of RCUBE - staking and farming.
The pre-sale of Retro DeFi (through Unicrypt) ended yesterday. I was in on it early thanks to the projects' affiliation with another small and unknown blockchain gambling project I invested in. Afterwards, it became available to anyone knowing how to use PancakeSwap.
RCUBE has already seen some massive, but in the context of launching just a couple of hours ago, relatively small gains. At least compared to what will likely come. I am, of course, only speculating. Unfortunately, I don't have a crystal ball. But looking at the project and its tokenomics I think it looks interesting.
As you can see, the market capitalization is only $3,318,445. And there are currently 1,796 hodlers according to BSCscan.
Marketing from the project's perspective has not even started yet. You can check their Twitter account for example, there are only 327 followers and four tweets.
Within a couple of hours they reached 1,000 hodlers and now, close to 24 hours later they have nearly reached 2,000 hodlers. This is largely due to the reach of the team behind their project and their planned partnership with other project around yield farming. Which helped spread the word early on without any excessive marketing campaigns.
As explained, I only heard about it through one of these future partners where I am actively farming. I didn't participate in the pre-sale unfortunately (because I am stupid) and only bought in after RCUBE became available through PancakeSwap. Missed out on some massive early gains. But oh well. At least I have a sizeable hodling of RCUBE right now and waiting for further announcements and their coming deliveries. More on that later. First, let's look at the tokenomics of Retro DeFi's $RCUBE.
RCUBE is a blockchain project which utilizes a dynamic supply protocol and works as the governance token of the Retro DeFi ecosystem.
The RCUBE tokenomics works as follows:
On every transaction that is made, a burn (fee) is applied - the %burn range between 2.5% and 6%. The %burn increase by 1% for every 500,000 RCUBE's transacted. This is called "Deflationary"-phase.
After 2,500,000 RCUBE are transacted, a redistribution is made to hodlers, where 25% of the total burn during the previous cycles is redistributed. This is called "Rebase"-phase.
After the cycle of 2,500,000 RCUBE transacted. The cycle resets and start from 2.5% and then back up again to 6.5% when 2,500,000 RCUBE are transacted again. And so, the cycle repeats again and again.
Effectively, this is an automatic burn mechanism which makes the supply deflationary. Ultimately, as the supply decrease, the value of RCUBE increase. Benefiting hodlers.
The 25% redistribution works as an automatic airdrop at the end of every cycle, increasing the hodlings of all RCUBE hodlers.
To receive a share of the 25%, you simply have to hodl RCUBE in your wallet.
The total supply of RCUBE is 25,000,000 and is distributed as follows:
The first planned delivery from the team behind Retro DeFi is optimized yield farming. I would assume one of the first yield farms is one of the coins I am currently farming. There could be other BSC-based BEP-20 coins that can be farmed as well. We expect partnerships to be announced in due time. What is revealed is that the following LP farms will be available in due time:
I expect the %APY (Annual Percentage Yield) to be high, from 3-digits to 4-digits initially and then go down as more farmers join in on the pie. I will be farming early on. Hoping that there will be some usage of my other hodlings from the other project I expect they will announce a partnership with.
Yield farming can be extremely profitable. So if you do end up buying some RCUBE after reading this. Make sure to get in on the yield farming when it launches!
If you know how to use PancakeSwap, you can easily swap $BNB with $RCUBE. First get $BNB from an exchange like Binance. Just make sure to keep some $BNBs for the farming later.
There is not too much known about this, as yet. But I imagine that RCUBE will be central to transactions related to these features. Adoption and usage of any online gambling features, such as an online casino game, would increase the number of transacted $RCUBE. And remember the tokenomics of self-deflationary and auto-rewards for RCUBE hodlers.
Most likely, if I would place a bet, is that they will launch some simple Dice games or Hi/Lo, similar to what you can find in the BLINk online casino.
Many people may not befamiliar with the concept of NFT farming. It is basically an intervention of DeFi in NFTs. A marriage between Non-Fungible Tokens and Decentralized Finance. Think crypto collectible projects like CryptoKitties.
In the case of RCUBE NFT Farming, I would imagine some evolution from Gaming and Online Gambling that results in NFT collectibles, and the farming of such RCUBE NFTs.
Honestly, I do not know what the NFT farming feature entails in the case of RCUBE.
DAO = Decentralized Autonomous Organization - here is where governance of RCUBE comes into play where hodlers can actively participate in the running of the DAO.
Some of this is already delivered and what I am looking forward to the most is first and foremost the yield farms (because money) and secondly the online gambling aspects for utility and hopefully an increase in TX (faster burn and more frequent airdrops).
In the coming days I will write a comparison of this project and another similar, mature project that has been around for a long time - which I believe Retro DeFi can at least mirror, or outpace.