Say Hello to DIMES for s0 Rewards
With VBA season0 just around the corner, we wanted to share how we plan to distribute rewards to our community members at the start of the season.
As mentioned previously, 100% of the proceeds from our initial mint will go towards the season0 prize pool (2000 SOL) to reward our early believers as we work together to set up the foundation of the league.
Our long term goal is to create a fun, competitive, and sustainable game economy, and with that goal in mind, we designed our season0 rewards with the following principles:
- Reward Everyone. We want to ensure that everyone who plays VBA has a chance to win something.
- Reward Winners. We want to make sure we reward winners more than losers. After all, basketball is a competitive game.
- Simple. We want to create a reward system that would be easy to understand.
- Sustainable. We want to make sure we could leverage the season0 prize pool to sustain months of building.
To reward VBA GMs for playing each week in season0, we’re dropping DIMES, an off-chain, in-game currency.
At launch, the DIMES you earn will be used as automatic entries into our rewards drawings. The more DIMES you collect, the greater chance you have to win. Our 2000 SOL s0 prize pool will be split across 20 weeks and our initial drawing system will have 10 winners of 10 SOL each (100 SOL total) per week. These drawings will be held on Mondays after each weekly contest.
To start, DIMES will not be storable or tradable. However, the utility of DIMES will expand over time, including the ability to store and redeem them for services inside (or outside) the VBA.
Our philosophy has always been to move fast and build in public, and to make sure that we protect our economy, DIMES will be on training wheels to start so that we can build up the DIMES ecosystem slowly and deliberately, ensuring that there is a robust economy for earning and spending before taking them off.
So how do I earn DIMES?
You can earn DIMES based on your VBA league and performance in weekly contests
In s0, everyone will be eligible to earn DIMES, and winning will earn you more.
Over the course of the season, GMs will play their way into 3 leagues: Recreational, Intermediate, and Competitive. These leagues are how our matchmaking system will work — you will be placed into Round Robin groups according to your league.
All new teams will be placed in a Placement league against other new users and those in the Intermediate League to start. As you play, a Team Rating will be assigned, and, depending on your team’s performance, your league may change. Higher leagues will be more competitive and GMs will earn more DIMES, while lower league will give more casual teams an opportunity to compete for a lower share of DIMES. At this time, the salary cap will be the same across all leagues.
As our GM count grows, we plan to introduce more leagues and potentially even add an exclusive pinnacle league at the very top ranks of the VBA.
Note: if your weekly round robin has more than 8 people, teams who finish 9th or lower will get the same amount of DIMES as the 8th place finisher.
The Future of DIMES
VBA season0 is a time for moving fast, trying new things, and building the foundation of the league together. This is the first version of DIMES and over time, we plan to greatly expand its utility and potential in the VBA economy.
Let’s ball and get some DIMES.