During the last few weeks, the Decentraland DAO has fiercely debated awarding the metaverse poker pioneer, decentralized games, a $1 million grant. Now the dust has settled and the votes counted, with DAO members coming out marginally in favor of the proposal.
Through the grant, Decentral Games will receive the funds in the native Utility token $MANAusing them to bolster his $USDC – $ICE liquidity pool and provide additional stability as he prepares to launch his long-awaited ‘Sit ‘N’ Go’ tournaments.
Decentral Games submitted an initial proposal in May, where it sparked a heated debate among DAO members, going through various stages of voting, before finally winning with 56% of the total votes on June 17. They will now use the funds to stabilize the ICE Poker ecosystem as it rolls out its latest update, earmarking the entire $1 million in $MANA to provide rewards in the Quickswap betting pool over the next three months.
Wider distribution of $MANA
Through this incentive, Decentraland expects to see further organic growth as more members of the ICE Poker community become $MANA token holders, allowing them to further interact within the Decentraland environment.
The proposal acted as an excellent demonstration of the democratic capabilities of the DAO, seeing passionate debates from both sides of the spectrum. By the end of the day, the DAO saw over 11 million voting points (VPs) cast, with 56% in favor of allocating funds.
What happens next?
Now that the voting is over and a decision has been made, Decentraland can start allocating the funds. So, within the next 10 days, they will send $1 million in $MANA to the Decentralized Games treasury fund.
After which, it will start distributing it to those who bet on the ICE-USDC Liquidity Fund. In essence, those rewards will circulate through the application of a smart contract based on the value wagered. Meanwhile, through an official agreement, Decentral Games will not retain any of the funds for its own purposes.
A decentralized success story
ICE Poker has seen considerable success since its launch last fall, now responsible for 60% of all traffic on Decentraland, with the latest figures showing around 8,000 daily visitors haunting 12 locations on 1007 parcels of land, offering an elegant ‘free to play and win’ gaming experience within the metaverse. However, through its next venture, Decentral Games will release a simpler format designed to appeal to the next wave of metaverse poker players.
Read the full proposal >> Here
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended as educational material only. People are required to fully research any product before making any type of investment.
Decentralized Human, Explorer, Adventurer.