Amsterdam, The Netherlands, October 9th, 2023, Chainwire
The token presale for upcoming crypto casino TG.Casino has now raced past $500,000 and is approaching the $1 million soft cap mark.
TG.Casino Token ($TGC) is currently available to purchase for $0.125 – holding the token allows users to generate staking rewards and earn a share of casino profits through a token buyback once it is launched.
At the time of writing the presale has raised almost $700,000 with the staking annual percentage yield (APY) set at 737%.
Stake $TGC to earn rewards and share casino profits
TG.Casino is a fully decentralized and licensed crypto casino – powered by Telegram – that will offer instant and anonymous play, anonymous crypto transfers, thousands of slots, classic casino games, and a competitive sportsbook.
However, unlike many other casinos in the crypto space TG.Casino, which has not yet launched, is offering native token $TGC for holders to earn further rewards beyond gambling and wagering.
The first is through its staking mechanism, with presale buyers able to add purchased $TGC tokens immediately to the staking pool and generate an APY.
As outlined above, the current APY is over 737% meaning those who have purchased early will continue to accrue tokens as the presale continues. The APY will reduce as more tokens are locked into the pool meaning.
Profit sharing/token buyback/burn mechanism
Staking will also play an integral role in the profit-sharing system.
Users who have tokens staked once the casino is up and running will earn a share of daily profits through a planned token buyback system.
$RLB, the native token of Rollbit, surged 60% and reached a peak market cap of $700 million after it announced a buyback scheme in August.
The TG.Casino buyback will see the casino use a share of daily profits, once live, to purchase $TGC tokens and distribute them to those who are staking.
This will allow token buyers to earn more tokens. However, the buyback goes a step further by also adding a burn mechanism as a feature.
From the buyback, 60% of purchased tokens will be distributed to stakers as rewards, with 40% sent to a burn address meaning they are permanently taken out of supply.