Over recent weeks, the Decentraland DAO has debated fiercely with regards to awarding metaverse poker pioneer, Decentral Games, a $1 million grant. Now the dust has settled, and the votes counted, with DAO members coming out marginally in favour of the proposal.
Through the grant, Decentral Games will receive the funds in the native $MANA utility token, using them to bolster its $USDC – $ICE liquidity pool and provide extra stability as it prepares to roll out its highly anticipated ‘Sit ‘N’ Go’ tournaments.
Decentral Games submitted an initial proposal back in May, where it sparked fiery debate amongst DAO members, running through several stages of voting, before eventually winning out with 56% of the overall votes on June 17. Now, they will use the funds to stabilize the ICE Poker ecosystem as it launches its latest upgrade, earmarking the entire $1 million in $MANA to provide rewards in the Quickswap staking pool over the next three months.
A Wider Distribution of $MANA
Through this incentive, Decentraland expects to see further organic growth as more members of the ICE Poker community become holders of the $MANA token, enabling them to further interact within the Decentraland environment.
The proposal acted as a fine demonstration of the democratic capabilities of the DAO, seeing impassioned debates from both sides of the spectrum. At the end of the day, the DAO saw over 11 million Voting Points (VP) cast, with 56% coming out in favour of the allocation of funds.
What Happens Next?
Now that voting has ended and a decision settled upon, Decentraland can begin allocating the funds. So, within the next 10 days, they will send $1 million worth of $MANA to the Decentral Games treasury fund.
Following which, it will begin distributing it to those staking in the ICE-USDC liquidity pool. In essence, those rewards will circulate through the application of a smart contract based upon the value staked. Meanwhile, via official agreement, Decentral Games will retain none of the funds whatsoever for their own purposes.
A Decentraland Success Story
ICE Poker has seen considerable success since its launch last Autumn, now responsible for 60% of all traffic in Decentraland, with the latest figures showing around 8,000 daily visitors frequenting 12 venues over 1007 parcels of land, offering a sleek ‘free to play and earn’ gaming experience within the metaverse. Through its next venture however, Decentral Games will launch a simpler format designed to attract the next wave of metaverse poker players.
Read the full proposal >> Here
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Decentralised human, Explorer, Adventurer.