Tiers Multipliers Update

Background

It’s been a huge month for bag.win: We just achieved Silver from Blast (4xing our Gold distribution), we’ve launched more than 30 new third party games, and we kicked off a new leaderboard raffle. We are focused on user acquisition, onboarding, and profitability.

Today, $BAG Tiers run from Tier 0 to Tier 10 and generate multipliers of 1x - 3x across Cashback (5% - 15%) and Referral Bonuses (5% - 15%). In Phase 1, this also applied to Gold Earnings. This was removed last month when Blast announced that we could not incentivize native assets; however, they reversed that decision last week.

Proposal

(1) Reinstate $BAG Tier Multipliers applying to Gold earning rates across all games.

(2) Update Multipliers from 1x - 3x to 1x - 2x (e.g. Tier 0 gets 1x; Tier 6 gets 1.6x).

Rationale

(1) In addition to governance, this is great utility for the $BAG token. We believe this was an effective, additional reason to buy/hold $BAG when we had this in place in Blast Phase 1.

(2) The current Blast Gold rates are very generous and we cannot afford to allow people to earn at > 2x the baseline rate even if they have > 8M $BAG tokens. Even 1.5 - 2x will be a strong incentive to stack $BAG. This change will not alter the baseline Cashback or Referral Bonus rates but there will be some moderate savings as volumes scale up again from the diminished multipliers there. This provides us a bit more flexibility to continue spending in other areas.