Mega Dice Debuts on Raydium, Burns 128M Tokens, Unveils V2 Staking

Join our Telegram channel for the latest updates and breaking news

Mega Dice ($DICE) made its debut on the decentralized exchange (DEX) Raydium on Monday after successfully raising upwards of $1.9 million during its recent presale.

This leading GameFi initiative on Solana has launched its new token, $DICE, which brings users reduced transaction fees along with a range of functionalities, including cashback, improved gameplay, and exclusive NFTs—more features are anticipated soon, such as futures trading.

In a strong start, the project has also burned 128 million $DICE tokens and released version two of its staking platform. The new Staking V2 feature provides stakers with an impressive 2,368% APY through fixed-term staking pools of 30 and 90 days, plus extra rewards for early participants.

These strategic moves aim to assist $DICE in recovering from its initial day drop, as those seeking quick returns have already exited the scene.

With the DEX listing and the project team’s dedication to supporting players and $DICE holders, Mega Dice is making considerable progress towards becoming a frontrunner in the GameFi sector, presenting a robust challenge to prominent competitors like Rollbit.

$DICE Token Buybacks and Burns

During any token listing, profit-taking is unavoidable as those with lesser understanding of the project’s objectives are typically the first to liquidate their holdings. This scenario played out on the first day of $DICE trading on the DEX, where it experienced a depreciation of approximately 70% within 24 hours, based on DEXTools data.

As previously stated, Mega Dice has executed a burn of 128 million $DICE tokens and 45,000 LP tokens. These actions are designed to restrict the token supply, thus increasing the value of the remaining tokens and stimulating growth.

As part of the launch process, we’ve also just burned 120M $DICE !
Track the burn here https://t.co/hyyhYWOrnq pic.twitter.com/w0NO5QBC6D
— Mega Dice Casino (@megadice) September 30, 2024

It’s worth noting that the total supply of $DICE is fixed at 420 million, putting a greater value on the remaining 292 million tokens. Additionally, the project intends to utilize the remaining tokens for buyback and burn cycles while also injecting them into the staking pool, ensuring Mega Dice can provide staking options for the foreseeable future.

The buybacks are backed by the project’s ongoing initiatives to broaden its casino operations. More details on upcoming buybacks and burns will be communicated through its social media platforms.

However, reducing supply is just one facet of growth; the token’s utility also plays a crucial role in attracting investors.

As highlighted, $DICE comes with various advantages, including cashback. Utilizing $DICE across any of the casino’s 4,500 games, including slots, live casinos, game shows, and sports betting, entitles users to an extra 15% cashback on all net losses.

The launch of the second version of its staking services further increases the utility, allowing $DICE stakers to anticipate more perks.

Understanding How Mega Dice V2 Staking Functions

One of the main advantages of Mega Dice’s updated staking system is its high APY, which results not only from buybacks but also from the platform’s successful online casino operations. However, staking $DICE offers even more than the outstanding returns.

The staking service will also incorporate additional rewards and chances for early stakers to optimize their returns. For instance, a stake-and-win initiative will allow early contributors to earn bonus rewards through the $DICE staking feature.

As indicated earlier, there are two fixed-term staking pools for $DICE: one lasting 30 days and another for 90 days. Mega Dice will also organize a profit-sharing campaign for stakers, featuring a total prize pool of $10,000, with distributions to those participating in the 90-day pool set to commence on October 3.

Approximately 26 million $DICE have been staked since the initiation of the staking feature on Monday, showcasing the dedication of the project’s long-term supporters.

Those retaining $DICE tokens bought during the presale are eligible to engage with the newest version of the protocol and seize opportunities for added rewards.

Moreover, users who staked their presale $DICE assets under the earlier protocol version will receive tokens and rewards through an airdrop scheduled for October 7 at 8 PM CET.

Mega Dice is bolstering its marketing strategies to enhance $DICE adoption through partnerships with influential opinion leaders (KOLs) and influencers. With 50 KOLs already on board, the objective is to recruit more, as they play a vital role in boosting Mega Dice’s visibility, attracting fresh users, and reinforcing its community.

The platform has amassed over 50,000 players, with 10,000 active users wagering an average of $50 million every month. With strong backing from a community of 17,000 members, the ongoing marketing push is anticipated to further elevate these figures.

$DICE holders and stakers are just scratching the surface of the benefits Mega Dice has in store. Beyond rewards, staking $DICE essentially grants a stake in the operations of Mega Dice, similar to holding shares in a thriving crypto casino.

Moreover, for $DICE holders, there are exciting planned airdrops for ecosystem participation, alongside $DICE NFTs that will offer VIP advantages.

Looking ahead, the Mega Dice team is eyeing tier-2 CEX listings from Q4 2024 to Q2 2025. In addition, futures trading and loot boxes are anticipated to launch later this year, potentially in Q4 2024 or Q1 2025.

To keep informed about new developments surrounding Mega Dice, be sure to join their community on X and Telegram.

Check out Mega Dice on Raydium.

Mega Dice – The Latest GambleFi Token