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closedEnded 2 years ago ยท Snapshot (Offchain)

Standardize BAG Rewards Tier Multipliers

By 0xE2be...315BF0

Background

Holding BAG gives you bonus multipliers that boost your Blast Gold, Blast Point, cashback, and referral rewards. The more BAG you hold, the more rewards you earn. These rates are outlined here: https://docs.decentral.games/promotions/reward-tiers.

Blast Point and Gold multipliers follow the same multipliers as Cashback, but Referral multipliers are different. The Tier 0 Cashback reward is 5% (so 5x is 25%) and the Tier 0 Referral reward is 25% (so 2x is 50%).

Proposal

(1) For all 4 categories, make Tier 0 - Tier 10 range from 1x - 3x in increments of 0.2. (2) Set the Tier 0 Cashback reward to 10% (so 3x is 30%) and the Tier 0 Referral reward to 15% (so 3x is 45%).

Rationale

Aligning these rates will be easier to maintain and convey to users. Itโ€™ll also be more memorable given the new 1:1 mapping between Tier and Multiplier across all 4 categories. Moreover, the 5x spread was reasonable for cashback which was previously capped at 25% but it was pretty extreme for Blast Points and Blast Gold. As a result, it capped how high we could set the Tier 0 rewards (which is what most new users will see) and limited our flexibility to give Points/Gold out elsewhere.

Lastly, this is a relatively small change for Cashback and Referral reward levels. Cashback rates end up 5% higher across the board while Referral rewards end up 5 - 10% lower. The combined cap for both remains 75%.

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0
Votes 16
VoterCast PowerVote & Rationale
0xf28F...F4D935
68.64M

Yes

0xFf95...5CA4A6
18.889M

Yes

0x7146...f38ff9
8.181M

Yes

0x6cAa...349238
4.925M

Yes

0x5E61...9E37C6
2.475M

Yes

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Proposal Status
  • Tue March 26 2024, 09:20 pmVoting Period Starts
  • Fri March 29 2024, 05:00 pmEnd Voting Period
Current Results

1-Yes

106.617M

98.88%

2-No

1.207M

1.12%
Quorum 107.824M/80M
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