Ruletka’s Operation Fenix

Not long ago the Ruletka community took the initiative to safe the project from an imminent death. The Ruletka token (RTK) was suffering from low liquidity, unsustainable depletion of project reserves and limited utility. The following platform expansion is the first Ruletka Improvement Proposal (RIP) to be implemented, which aims to tackle these issues so that more RTK tokens may Rest in Peace.


Ruletka is a gaming platform based on its base asset RTK, a deflationary ERC-20 token with a 1 in 6 chance burn mechanism that simulates the deadly Russian Roulette game. In other words, RTK is a blockchain-based 6 shot revolver loaded with a single bullet and every time a user submits a transaction he or she is at risk of getting shot!

RTK sets itself apart from other deflationary tokens in the way its burn mechanism is used to develop party-like games of chance. Players have economic incentives to get shot and burn the token, as they get to win RTK tokens in return, which leads to deflation through the organic and voluntary destruction of the token. However, these economic incentives are insufficient for rational players when the potential winnings are less than the probabilistic cost of winning; absent sufficient project reserves to maintain these incentives over time, the token has had utility mostly for irrational players (i.e. gamblers), thereby limiting its user base to this group. Thus, a solution is needed to make the games more economically attractive to players, thereby increasing the utility of RTK and expanding its user base, but without relying on an unsustainable depletion of project reserves.

Additionally, low market liquidity exposes players to high price volatility and the resulting uncertainty in risk/reward ratios, which increases with trading volume and is therefore detrimental to a healthy gaming ecosystem. Hence, any solution to the current limitations of the Ruletka platform should also aim to increase the liquidity of its token asset(s).

Operation Fenix (RIP-01)

In order to achieve the aforementioned goals, Operation Fenix aims to expand Ruletka’s infrastructure with a new token asset called Ammunition (AMMO) that will allow the platform users to adjust RTK’s burn mechanism with a higher chance of burn. In other words, players will be able to load more ammunition onto their revolver, thereby increasing their chance of getting shot and winning the games!

AMMO token breakdown

AMMO's initial supply will be 3.5 million tokens, which is enough to load every RTK in existence with 4 extra bullets, based on a snapshot of the RTK supply taken at Phase 0 of RIP-01's roadmap [scroll down for the roadmap].

Each extra AMMO loaded into RTK will increase the chance of burn by 1 in 6, up to a maximum chance of burn of 5 in 6. (Un)loading AMMO will be possible through two-way swap contracts where AMMO and RTK can be swapped for RTKL(X)[1], each representing a different revolver with up to 5 bullets in its cylinder (see table below).

[1] RTKL(X) represents the set of more heavily loaded RTK tokens, ranging from RTKL2 to RTKL5, which are loaded with 1 up to 4 extra bullets. The entire supply of these tokens will be locked in the swap contracts and can only be unlocked by locking RTK and AMMO.

Distribution of AMMO

  • 5% airdropped to all RTK holders based on snapshot 1 (taken on 15 October 2020)
  • 5% airdropped to all RTK holders based on snapshot 2, excluding all addresses from snapshot 1 (will be taken on the last week of November / first week of December 2020)
  • 60% as farming rewards for liquidity providers of the RTK/ETH pool on Uniswap
  • 30% as farming rewards for liquidity providers of the RTK/AMMO pool on Uniswap
  • BONUS: The 10 median wallets [2] will get DOUBLE shares of the airdrop

*the project treasury wallets will be automatically included in both snapshots.

**liquidity providers of RTK will also be eligible for the airdrop. Their RTK holdings will be calculated based on their ownership share of the pool and the number of RTK in the pool when the snapshot is taken.

[2] The median is another form of an average. It represents the middle number in a given sequence of numbers when it’s ordered by rank. Example: if 100 wallets are holding RTK, the wallets ranked 46 to 55 in terms of holdings would be the 10 median wallets.

Pot Shot

Pot Shot was the first automated game built on top of RTK’s 1 in 6 chance burn mechanism, where burns are called “shots”. In this game players send RTK to the game address and the first person to get shot wins the jackpot. This game is responsible for most of RTK’s deflation, which currently sits at 16% of the initial supply; it is the MVP of the platform and will be the first game to integrate the RTKL(X) tokens.

The new Ruletka ecosystem

Ruletkas’s platform expansion introduces new dynamics that contribute to the long term sustainability of the project. When RTKL(X) is burned the swap contracts become unbalanced, since there is more RTK and AMMO locked in the contracts than can ever be unlocked with RTKL(X). The Ruletka team will have the ability to rebalance the swap contracts by withdrawing the surplus AMMO and RTK locked, which will be added to the project treasury. This source of funds will provide the team with the means necessary to sustain farming rewards for liquidity providers over time, maintain economic incentives for players, fund new developments, perform token burns, among others (see image below).


Operation Fenix will be rolled out in phases in order to ensure a successful launch of the project. In consultation with the Ruletka community it was chosen to make the airdrop to RTK holders before AMMO farming goes live; the latter must also take place before the RTKL(X) tokens are integrated into the Pot Shot game in order to protect players from token price volatility. This strategic rollout will allow the team to build a healthy game ecosystem and protect its users as much as possible during launch, while also limiting the probability of potential (technical) risks occurring at the same time (see image below)

In summary, the implementation of Operation Fenix comes with many benefits for the Ruletka platform, such as:

  • Dynamic economic incentives as a function of gas fees, game stakes, jackpot sizes and token asset prices
  • Wider user base that also includes rational players
  • Increased burn rate of RTK
  • Sustained farming rewards for liquidity providers
  • Project reserves available for further development
  • Expanded platform infrastructure with more options for future game development

We (the team) believe that with these improvements the Ruletka platform will become a sustainable gaming ecosystem with aligned incentives for players, holders, liquidity providers and the team. Following a successful implementation of Operation Fenix, we plan on starting with Phase 0 of our next RIP.

Ruletka Token (RTK) is an incentive-based deflationary game currency. Its 1 in 6 chance burn mechanism is used in games by reward-seeking players.

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