On 15th of January Ruletka Token conducted an AMA in Crypto Revolution Community. It was their second AMA in the group. Our guest was Don from Ruletka Team. Let’s take a look at most interesting points from our conversation with Don.
INTRODUCTION, TWITTER QUESTIONS AND LINKEDIN QUESTION
Don | Ruletka Token: Hi guys. glad to be here.
Danny | Crypto Revolution: Happy to have you with us. Last time we got Dolphain from Ruletka. I know he is not involved anymore. How are you today?
Don | Ruletka Token: I’m great, thanks. Excited to be here.
Yes, me too. I have taken the lead of the project, but Dolphain is still supporting when needed. He’s a great person and very competent as well.
Danny | Crypto Revolution: He is. I totally agree. Could you please introduce yourself for Community? Few words ??
Don | Ruletka Token: My name is Don and I’m the team lead of the Ruletka project. I have a background in systems engineering and project management of engineering projects. I saw a lot potential in Ruletka, so decided to step in and contribute.
Danny | Crypto Revolution: So from Engineering straight to Crypto?
Don | Ruletka Token: Yes, definitely. I lean more towards the financial side of projects though, so it wasn’t a big leap to be honest. However, my colleagues still have no idea about what I’m saying when we I talk about crypto ??
Danny | Crypto Revolution: Hah. You serious? Yeah I know still a lot of people don’t know anything about Crypto or think that Bitcoin is Ponzi ??
Don | Ruletka Token: It’s hard to understand, but they’ll catch up eventually imo. Just like they HAD to catch up to the internet.
Danny | Crypto Revolution: Even after this pump to over 40k on TV in my country was TV show telling people that Bitcoin is a bubble. Lol. And yes I’m serious. Could you please introduce Ruletka to the Community?
Don | Ruletka Token: Ruletka is an incentive-based gaming platform running on top of deflationary currencies. Our base currency is Ruletka token (RTK), which has a 1 in 6 chance burn mechanism that simulates the Russian Roulette and is used in games by reward-seeking players; RTK is like a 6-shot gun loaded with one bullet on the Ethereum blockchain.
It’s a fun token to use, yet truly dangerous. Trading is completely safe, but wallet-to wallet transfers could get shot. So users should learn about it before using it like any other currency.
Danny | Crypto Revolution: Yeah. How many games people currently can play? I know gas fees were issue before. What about now?
Don | Ruletka Token: Right now we have Hells GATE and pot Shot (which has a low-tier version and a high-tier version). And we have a new game coming out soon that we’re really excited about; it’s currently on testnet. I think gas fees weren’t that much of an issue because we used to be able to play for free using Dharma/Argent wallet. The problem was insufficient incentives to play, since people were often risking more than they stood to win. But that has been resolved now with the implementation of our first improvement proposal.
Danny | Crypto Revolution: Do you know how many people are playing them now. Approximately?
Don | Ruletka Token: The new game came out just a few days ago and we have already locked thousands of RTK and AMMO. It’s hard to say how many people because it’s just wallets. Correction: the update of Pot Shot to support our new tokens. Our new game is the one on testnet right now.
Danny | Crypto Revolution: Few words for AMMO. I know is another token in Ruletka Ecosystem.
Don | Ruletka Token: AMMO are bullets that players can add to their RTK gun. Each extra bullet increases the chance of getting shot by 1/6, up to 5/6. A certain shot is not possible in our platform by design.
Danny | Crypto Revolution: Nice. Sounds really interesting. Is it AMMO listed on Uniswap?
Don | Ruletka Token: Yes, it’s being traded against RTK only. We launched it this way because no other pool is useful for our gaming ecosystem atm.
Danny | Crypto Revolution: Few words for Ruletka Token and AMMO Tokenomics?
Don | Ruletka Token: It’s really simple. AMMO’s utility increases as its price decreases, because it gets cheaper to win the games the lower the price goes. So the incentives for using RTK alone or RTK+AMMO change constantly with the market. This provides theoretical low and high price floors for AMMO and keeps the games going over time.
Q1 from @YadiSuhendra5
Gamers are usually very happy to play games & expect the rewards from the Ruletka game, so how do gamers get rewarded from the game platform Ruletka Game? Are there various ways to get rewarded from the Ruletka Game?
Don | Ruletka Token: Players get directly rewarded for playing and winning against other players. But when game volume is low the game wallets are topped up from the project treasury, thereby maintaining economic incentives over time. Soon we’ll also have leaderboards with prizes for the top players as well.
Players are also indirectly rewarded by the deflation of their game currency, which is a function of player activity. The more users play the games, the more tokens are burned and thus, the more valuable the remaining tokens become; so, value accrues to the users of our platform.
Q2 from @semogaberkahXD
For the success of a project, investors, community and developers play a major role. What is RuletkaToken strategy to get them involved?
Don | Ruletka Token: The new Ruletka ecosystem has been designed with aligned incentives for its stakeholders. Game volume decreases supply (good for mere holders), provides rewards for liquidity provides and funds for further development; so everyone wins.
Over the last 3 months we were busy building the infrastructure required, now we will focus on growing our user base by rolling out new games and improving the user experience. We will be running ads, partnering up with other projects (and launching pools with their tokens) and financing promotion campaigns; but organic growth is what we are ultimately looking for, not a quick pump and dump.
Danny | Crypto Revolution: Do you have already any Partnerships you can mention?
Don | Ruletka Token: Nothing confirmed yet. We are already preparing the smart contracts required and have allocated funds to the farming program expansion, but we can’t disclose anything until we make a formal announcement.
Danny| Crypto Revolution: Btw People can farm AMMO as well right?
Don | Ruletka Token: Yes, that’s an important part of the tokenomics. People farm ammo with their liquidity and use it in the games or sell it. You see, in our platform farmers dumping is actually a good thing, because it provides value to the game hub.
Danny| Crypto Revolution: Yeah. That’s the best part. ??
Question from LinkedIn
Don | Ruletka Token: The in-game usage of our tokens is increased by providing dynamic economic incentives for players; as long as it’s statistically profitable to play (i.e. the potential profit is higher than the statistical cost of playing) reward-seeking players will participate. These incentives self-adjust to the prices of our tokens relative to each other, thereby making the games attractive for players under different market conditions and thus, resulting in buy pressure for our tokens.
In-game usage results in a reduction of circulating supply, either through burns or the lock-up of loaded RTK in the swap contracts; as the swap contracts are rebalanced, RTK is burned, AMMO is fed back into the farming pools (generating sell pressure) and the feedback cycle starts again. This synergy between economic incentives and market conditions will result in a self-sustainable gaming ecosystem where sell pressure from farmers and buy pressure from players are constantly at odds with each other, which increases the burn rate of our tokens. We all know what happens when decreasing supply meets constant (or increasing) demand. The price goes up.
Danny| Crypto Revolution: And here comes the question about Patience. Lol. We both know now people want fast money in Crypto. They want to enter the Project make quick money and exit. Why they have to stay with Ruletka long term?
Don | Ruletka Token: Well, staying long-term with any project entails investing, not trading, and that requires doing research and actually using the product. I urge potential investors to read our medium articles and try our product at least once, that’s the only way to understand the value proposition of our project and how we are different from anything out there.
Danny| Crypto Revolution: Could you please share your Medium again with us?
Don | Ruletka Token: More importantly, farming and playing is quite profitable right now. If anyone understand how this is sustainable then there’s the info he/she will need to decide.
https://ruletka.medium.com/
QUIZ PART
Question: At what price (valued in RTK) does AMMO lose its utility in the games and is therefore intrinsically overvalued?
Answer: 1
Don | Ruletka Token: RTK gives a player a chance of winning the games of 1 in 6. Each AMMO increases that chance by 1 in 6 as well, so loading 1 AMMO would be the same as playing twice with RTK alone. So AMMO cheaper than RTK means that it’s cheaper to play using AMMO, while it’s more expensive to use AMMO if it trades above RTK.
right now AMMO is way cheaper than RTK, but that’s because our games’ release was delayed and farmers dumped, obviously. After we get more game volume and AMMO is locked out of circulation its price should get back to it’s intrinsic value.
TELEGRAM QUESTIONS
Telegram User:
Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
Don | Ruletka Token: Our farming contracts are forks of YFI’s contracts, which are the industry standards in terms of security. RTK’s contract itself hasn’t been audited (yet), but it has however stood the test of time. Once we grow further we might look into official audits, we after informal peer reviews we are confident in the security of our contracts.
Telegram User:
What is the purpose of REULETKA which combines gaming with digital coins, is it just like other gaming platforms that it only serves to bet other fellow gamers?
Don | Ruletka Token: Right now our main use-case is games of chance, but we are expanding further. In our next improvement proposal we will communicate the details to the community…. Ruletka is a platform, not just a token, and there’s potential for many applications based on RTK’s burn mechanism. Ideally I’d like to have users use RTK without even noticing they did.
Telegram User:
Will the RuletkaToken team burn the $RTK token then how can I follow the method when the token is burned, is there a minimum $RTK token hold and has RuletkaToken itself been registered with Coingekok for the $RTK token?
Don | Ruletka Token: RTK is on Coingecko, which pulls total supply data from Etherscan. When RTK is burned this data is updated by Etherscan and subsequently, on Coingecko.
Telegram User:
The current blockchain games have looked quite primitive so far in their design and it’s clear there is a long way to go to meet the current gaming standard. But there a lot of potential in this area. What do you believe is needed in order for Ruletka and blockchain gaming space to continue to advance and evolve?
Don | Ruletka Token: What we needed first was sustainable tokenomics, and we got that with the new infrastructure we built. Now we’ll focus on improving the front-ends, which is obviously still lacking. But this is the fun part!
Telegram User:
How does work the pot shot? It’s like a jackpot and i need to have lucky or it’s a multiplayer game ? Have plans to integrate this project with BINANCE smart chain? The gas is really high now!
Don | Ruletka Token: This is a multiplayer game. The first person to get shot wins the jackpot.
We are exploring the options for a layer-2 solution or moving to another chain right now. However, we are concerned about the risks of deploying of Binancechain, since we all know it’s centralised.
Telegram User:
While using Uniswap we are riskless of being shot, in which specific scenario, besides the games, would I get SHOT by using my RTK token and why would I take that risk?
Don | Ruletka Token: Wallet-to-wallet transfers are ALWAYS at risk of getting shot, unless whitelisted by the team. So trading is completely riskfree, as is loading and unloading AMMO. For everything else, pls be careful when operating your guns… someone can get shot!
CONCLUSION
Danny | Crypto Revolution: Final Words for Community man?
Don | Ruletka Token: Than you all for having RTK in your channel. I hope you guys learned something interesting today, as opposed to the regular defi project. I hope you guys saw value in this AMA, as I know I did! thanks all ??
For more information and future AMAs, join our Social Media channels:
Website: https://crypto-revolution.io
Telegram group: https://t.me/crypto_revolution1
Twitter: https://twitter.com/revolut20?s=09
Our Partner:
Ruletka Token Website: https://ruletka.fun/
Ruletka Token Telegram Group: https://t.me/RuletkaToken
Ruletka Token Twitter: https://twitter.com/RuletkaToken
