Background
The ongoing proposal above is set to change the rewards for the NFTs. This is the moment to adjust them accordingly to a new reward system based on BAG tier.
If option 3 passes, this proposal serves slightly to amend/complement it.
Proposal
"Reduce Bonus USD rewards for premium wearables by 75%. Reduce Ticket Rewards and Pot Bonus Rewards by 30% to" -option3
Use BAG tier as a multiplier to the rewards.
Option 3 aims to set SNG/POT at 70% and Bonus at 25%
Set rewards for SNG between 60%-80% and Bonus 20%-40%. Where the difference is decided by the tier each wallet has.
Someone tier10 will get 80% of the current sng tickets, and someone with no bag would get 60%.
Allow team to slightly change the % depending on the actual results as time progresses, as not to necessarily increase expenses, but keeping the overall idea that an higher tier will earn more rewards from the NFTs.
In case they dont currently have, also give team permission to adjust the tier values to better reflecte desired outcomes.
Rationale
We have a perfect opportunity to change rewards without creating a drama (more drama). Therefore this is the moment to adjust it. When we adjust the rewards to the tier, we are rewarding the "correct" people. We reward those who not only own nfts but who also invest in BAG and hold BAG.
This will also creates a demand for people to purchase and hold BAG. Thus being aligned with the success of the token. NFT holders will wish and actively seek BAG price to go up, as some will buy and hold BAG in order to get higher rewards. To offset any additional rewards some nft holders will gain from holding BAG, owners who dont own BAG see their rewards lower in comparison.
If they wish to receive more rewards, then they go and buy more BAG, and if everyone who has NFTs actually go and buy BAG and hold BAG, that's a very positive sign. And an "expense" worth having.
Off-Chain Vote
Timeline
Oct 01, 2024Proposal created
Oct 01, 2024Proposal vote started
Oct 05, 2024Proposal vote ended
May 15, 2025Proposal updated