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Gary McFarlane
Author
Gary McFarlane
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Mega Dice ($DICE) debuted on the decentralized exchange (DEX) Raydium on Monday after raising over $1.9 million in its recently concluded presale.
Solana’s leading GameFi project has introduced its new token, $DICE, which offers users lower transaction fees and a variety of utilities, including cashback, enhanced gameplay, and exclusive NFTs – with more features on the way, such as futures trading.
To kick things off and support the listing, the project has simultaneously burned 128 million $DICE tokens and launched version two of its staking platform.
Mega Dice’s Staking V2 offers stakers an impressive 2,368% APY with fixed-term staking pools of 30 and 90 days, along with additional rewards for early participants.
These developments will help ensure the price of $DICE rebounds from the selloff on its first day, as investors looking for quick profits are now out of the picture.
With the exchange listing and the project team’s commitment to ensuring that players and $DICE holders are well cared for, Mega Dice is making significant strides to establish itself as a leader in the GameFi space and provides a strong bid against major players like Rollbit.
$DICE Tokens Buyback and Burns
In every token listing, profit-taking is inevitable as those who lack a fair clue of the project’s goals are usually the first to sell their holdings.
This happened on the first day of $ DICE’s DEX trading, as it lost about 70% of its value over the past 24 hours, per DEXTools data.
As mentioned, Mega Dice has burned 128 million $DICE tokens and 45,000 LP tokens.
These measures are intended to limit the supply of tokens, making the remaining tokens more valuable and potentially driving growth.
To recall, the total supply of $DICE is only 420 million, which places a higher value now on the remaining 292 million.
Furthermore, the project plans to allocate the remaining tokens for buyback and burn cycles while adding them to the staking pool, allowing Mega Dice to offer staking options for years to come.
These buybacks are supported by the project’s ongoing efforts to expand its casino business.
Further details on upcoming buybacks and burns will be shared on its social media channels.
Of course, there are other ingredients for growth than curtailing the supply; the token’s utility must also be attractive to investors.
As mentioned, $DICE offers many benefits, one of which is cashback.
By using $DICE in one of the casino’s 4,500 games, including slots, live casinos, game shows, and sports betting, users can receive an additional 15% cashback on all net losses.
Now the launch of version two of its staking features further ups the utility as $DICE stakers can look forward to additional benefits.
Mega Dice V2 Staking
One of the key benefits of Mega Dice’s new staking protocol is its high APY, which is not only by buybacks but also by the platform’s profitable online casino operations.
However, staking $DICE offers much more than that high returns.
The staking feature will also include additional rewards and opportunities for early stakers to maximize their returns.
For example, a stake-and-win concept will allow early participants to simply earn extra rewards using the $DICE staking feature.
As previously mentioned, there are two fixed-duration staking pools for $DICE: one for 30 days and another for 90 days.
Mega Dice will also run a profit-sharing promotion for stakers, with a $10,000 prize pool to be shared among those staking in the 90-day pool starting October 3.
Nearly 26 million $DICE have been staked since the launch of the staking feature on Monday, demonstrating the commitment of long-term supporters of the project.
Those who still hold $DICE tokens purchased during the presale can participate in the new version of the protocol and have the chance to earn additional rewards.
Additionally, users who staked their presale $DICE holdings on the protocol’s earlier version will receive tokens and rewards via airdrop on October 7 at 8 PM CET.
Mega Dice is ramping up its marketing efforts to drive $DICE adoption by collaborating with key opinion leaders (KOLs) and influencers.
Having already onboarded 50 KOLs, it aims to add more, as they are crucial for enhancing Mega Dice’s visibility, attracting new users, and strengthening its community.
The platform boasts a user base of over 50,000 players, with 10,000 active users wagering an average of $50 million per month.
With strong community support from 17,000 members, the ongoing marketing push is expected to improve these numbers further.
Holders and stakers of $DICE are experiencing just the initial benefits of what Mega Dice has to offer.
Beyond the rewards, staking $DICE is the key to unlocking a share of Mega Dice’s operations, akin to being a shareholder of an already successful crypto casino.
Furthermore, for $DICE holders, there are planned airdrops for participating in the ecosystem, as well as $DICE NFTs that will provide VIP perks.
Looking ahead, the Mega Dice team plans to pursue tier-2 CEX listings from the fourth quarter of 2024 to the second quarter of 2025.
Additionally, futures trading and loot boxes are scheduled for introduction later this year, either in the fourth quarter of 2024 or the first quarter of 2025.
To stay updated on the new developments around Mega Dice, join its community on X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
