Decentral Games

Background

This proposal follows several passed proposals from the last month to reduce USD/USDB prizes, follows a proposal to reduce DAO spend by $20,000/month, and follows a proposal to reduce wearable rewards… all in the name of improving casino profitability. It also specifically follows the “Direct Gold Incentive for $BAG” proposal that was passed in August.

THIS IS ALSO BEING POSTED AS A CONCURRENT ALTERNATIVE TO: https://vote.bag.win/#/proposal/0x668d2f8b9894b71bcbbfa8604ae334c842d733b7e88b07a0e7bb0f0c709161da

Proposal

(1) Effective immediately (October) stop allocating a percentage of our Gold allocation to $BAG holding; instead, allocate all of it to incentivizing gameplay.

(2) Effective after 10/13, pause competitions. Keep them paused until we support competitions in bag.win (mobile). Then, competitions return with the current prize structure + a Gold amt T.B.D. by the team.

Rationale

(1) With other projects entering and other projects getting promoted, we have seen our Gold allocation decline month-to-month (229K (Aug) --> 214K (Sep) --> 185K (Oct)). While we do think we can and will get 2x this amount soon by getting a dApp ranking of Gold, that is not guaranteed. We should be more judicious about allocating Gold to incentivize gameplay and onboarding. Additionally, at ~50 Gold per 1M BAG, we don’t believe this is a significant driver of BAG purchasing/holding. Improving profitability will increase the DAO’s purchases of $BAG.

(2) Our focus is not on Decentraland at the moment. It’s on onboarding, mobile, and Bag City. We can reduce USD/USDB emissions by ~$1,000/competition while these are paused and then use competitions as a lever to bring users into mobile once they are added there later this quarter.