The Decentraland DAO votes in approval of a proposal to offer $1M USD in MANA tokens to Decentral Games.
The grant is more than four times the customary maximum community grant of $240,000, which is given out in Decentraland’s native currency MANA and utilised by the DAO to fund projects that aid the platform’s growth.
A total of $1 million in MANA equivalent will be distributed between USDC-ICE liquidity providers (LP) on the QuickSwap DeFi protocol as a result of the proposal’s approval.
The grant would be sent to dgtreasury.eth to be distributed to those staking the ICE-USDC LP within 10 days of the final binding proposal passing.
Decentral Games’ play-and-earn ICE Poker game which was launched last year uses the ICE token.
ICE Poker SNG is a new, competitive game mode that drives organic demand and utility for ICE tokens.
The ICE Poker ecosystem will be self-sufficient and long-term sustainable following this temporary 3-month rewards period and the launch of ICE Poker SNG.
While 151 DAO members voted in favor, 40 voted against the proposal. This means 56% of MANA holders voted for the grant issuance while 44% were against it.
The vote had to exceed a 6M VP (voting power) threshold. Only 10 voters accounted for 81% of VP in this proposal. DG themselves casted 2M VP in favor of the proposal, allowing it to pass the acceptance threshold. Otherwise, the proposal would have failed.
This proposal will maintain Decentraland LAND’s daily active users (DAU) while SNGs ramp up by supporting the ICE price.
The proposal will reverse DCL’s DAU decline in the short term and facilitate a faster return to growth.
“The worst-case scenario is that SNG fails despite significant progress to date, and this proposal only serves to keep DCL DAU afloat while rewards are deployed,” the proposal reads.
This initiative is not just a grant for the Decentral Games team, according to Decentral Games representatives. Instead, it’s intended to boost the LP community’s activity.
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