Decentral Games Receives $1M Grant in $MANA from Decentraland to Back LP Rewards
2 days ago, Decentral Games' proposal to the Decentraland DAO for a $1 million grant in $MANA was approved. The grant will reportedly fund staking rewards for its ICE-USDC liquidity pool, as the team prepares to launch its Sit-n-Go tournaments soon.
Decentral Games just received a $1M grant from Decentraland: What is it for?
On Thursday, Decentral Games' (DG) proposal to the Decentraland DAO for a $1 million grant in $MANA was approved. Accordingly, the grant will help fund staking rewards for its ICE-USDC liquidity pool on Quickswap. And the liquidity pool is part of the company's preparations for its upcoming ICE Poker Sit-n-Go tournaments.
To those who don't know, ICE is the main in-game reward token in Decentral Games' P2E ICE Poker game. Players can burn ICE to upgrade their wearable NFTs, in order to get a larger ICE bonus in the game. Based on the proposal, $MANA tokens from the grant will be distributed over 3 months to those who stake in the ICE-USDC liquidity pool.
“This $MANA allocation is a stepping stone to assist in boosting our in-game economy as we prepare to launch ICE Poker Sit-n-Go tournaments, along with other key initiatives that drive organic demand and utility for ICE and solidify our ecosystem’s long-term sustainability,” said Miles Anthony, CEO of Decentral Games in a statement.
Decentral Games' proposal was accepted by a tight majority
Interestingly, the grant is more than 4 times larger than the usual maximum community grant of $240k. Given that, Decentral Games' proposal received many debates within the community at one time.
According to The Block, a total of 191 DAO members with more than 11 million Voting Power (VP) voted on the proposal. The result was 6,162,990 VP for and 4,952,747 against. If it weren't for the Decentral Games itself which cast 2 million VP in favor of the proposal, the grant would not come to pass at all.
Nonetheless, DG is a major contributor to the Decentraland ecosystem. The company's ICE Poker game alone accounts for about 60% of Decentraland’s weekly active users. In view of that, there's not much to argue when it comes to funding your biggest player in the house. Hopefully, the $1 million grant will also help boost Decentraland's DAU in due course.
