August Gold and Prizes

Background

It’s been a huge month for bag.win: We just achieved Silver from Blast (4xing out Gold distribution), we’ve launched more than 20 new third party games, and we kicked off a new leaderboard raffle. Given the opportunity we have to use gold in several different ways to incentivize gameplay and even the holding of our native assets (e.g. $BAG), it makes sense to revisit this distribution along with our prizes holistically.

See Appendix for initial August Baseline Gold Rates. These are live! These have gone up!

Note: We plan to bring back tiering Gold earning rates based on $BAG Tier (as shown onsite). The new rate is T.B.D. and will be informed by the volume we see next week.

Proposal

(1) Update the Daily Poker Rake Leaderboard to $150/day with prizes as follows. For [1st, 2nd, 3rd, 4th, 5th], pay out [50, 40, 30, 20, 10] USDB. This is a decrease of $100/day, mostly by removing the 6th - 10th payouts.

(2) Combine our two casino games volume leaderboards into a single Top 10; continue to pay out the $2,000/week Top 10 prizes from the Metaverse Volume Leaderboard to this new leaderboard. This update may be made as soon as week of 8/19 but depends on dev timelines.

(3) For the new leaderboard, also raffle 5,000 Gold/week to 10 winners (500 each). This will follow the same logic as the existing raffle with 1K EUR volume → 1 Ticket.

Rationale

(1) With the improvement in Rake → Gold, particularly given the reintroduction of $BAG tiers, we expect to be able to grow player liquidity while reducing costs somewhat here. We would recalibrate if we don't see the increase in players we're expecting.

(2) With our focus firmly on bag.win and Bag City, it doesn’t make sense for us to have a single, separate leaderboard dedicated to Decentraland.

(3) Without reducing prizes guaranteed to the Top 10, we can reduce total USD cost by moving the raffle to Gold. We also wanted to make this Top 10 to get more people a pretty significant amount of Gold each!

The net result will be a $2,700/week (~= $11.5k/mon) improvement in profitability due to reduced USD outflows, all else held equal.

Appendix – Volume/Rake per 1 Gold

Third Party Games: USDB: 25 ETH: 0.01

Roulette: USDB: 40 ETH: 0.015 BAG: 40,000

Plinko: USDB: 80 ETH: 0.03 BAG: 80,000

Blackjack: USDB: 160 ETH: 0.06 BAG: 160,000

Poker: USDB: 0.8 ETH: 0.0003 BAG: 700