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Welcome Kevin, Updated Prizes, and More

BAG Weekly #12

GM, it’s a great day to secure the bag πŸ’°οΈ 

Last week, we welcomed Kevin to Bag City and updated various prizes around the ecosystem to reduce BAG emissions.

Here’s a quick recap of the latest news.

Table of Contents

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🀝 Welcome Kevin to Bag City

Kevin has secured the bag πŸ’°οΈ

Welcome Kevin as an official Bag City ambassador! To celebrate this partnership, Kevin and the BAG team are giving away $3,000+ in prizes. Hop into Bag City and play as Kevin for a chance to win.

Check out the partnership announcement for all giveaway details.

πŸ†• Updated Prizes and Bonuses

Following a passed governance proposal, we've updated various rewards to reduce BAG emissions:

  • Metaverse Casino Volume Leaderboard: Prizes will be changed from BAG to USDB. Amounts will remain the same.

  • Rake Leaderboard: Prizes will be changed from BAG to USDB. Amounts will remain the same.

  • Casino Competitions: Prizes will be changed from BAG to USDB.

  • SNG Leaderboard: Prize amounts will be reduced from $10K in BAG to $5K in BAG.

Additionally, we've made the following changes to improve DAO profitability:

  • Referral Rewards: Rewards will be reduced to 5-15% of the house edge.

  • High Hand Bounties: Bounties will be paused and re-evaluated.

πŸ’° Ecosystem Update

Last Monday, we allocated weekly profits to buy 0.28 wBTC and borrowed 30% of that amount to buy 2,366,500 BAG.

Casino stats (June 24-July 1):

  • Lost $21.8k in ETH

  • Profited $39k in USDB

  • Lost $5.1k in BAG

  • Net profits (exlc. BAG): $17.2k

BAG purchase amount

2,366,500 BAG secured

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πŸ›οΈ Proposals

Active

Passed

  • None

To submit or vote on proposals, visit Snapshot.

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πŸ† Poker Tournaments

Join the official BAG Club on Virtue Poker to enter tournaments.

Saturday

  • $150 Freeroll: 4pm UTC (12pm ET)

  • $150 Freeroll: 7pm UTC (3pm ET)

Sunday

  • $150 Freeroll: 4pm UTC (12pm ET)

  • $150 Freeroll: 7pm UTC (3pm ET)

To enter freeroll tournaments, you must hold at least 7.5k BAG.

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πŸ“† Metaverse Events

Hop into the DCL Metaverse Casino to join events and hang out with community members from around the globe in the comfort of your home.

Wednesday, July 10

πŸ† 24 Hour Casino Competition w/ $1,700 in Ritz Carlton and USDB Prizes
4pm UTC, 12pm ET

Thursday, July 11

πŸ’Ž Diamond Hands Casino Night
Midnight UTC (Fri), 8pm ET

Saturday, July 13

πŸ† 24 Hour Casino Competition w/ $1,700 in Four Seasons and USDB Prizes
4pm UTC, 12pm ET

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πŸ‘€ Community Spotlight

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