MANA incentives for USDC-ICE LP on QuickSwap
Allocate $1mm USD worth of MANA to provide rewards for the ICE-USDC liquidity pool on QuickSwap; wherein, MANA rewards will be distributed over 3 months to those that stake USDC-ICE LP tokens.
Daily active and concurrent users are Decentraland’s key differentiator within the nascent metaverse space, where several new competing virtual world platforms are launching and investing millions of dollars into engaging content creation. The LP rewards are a bridge to begin reversing DCL’s DAU decline and return to growth. ICE Poker SNG is a new, competitive game mode that drives organic demand and utility for ICE as it offers highly skilled players a quicker clearer path to wearable ownership. Following this temporary 3 month rewards period and the launch of ICE Poker SNG, the ICE Poker ecosystem will be self-sufficient and long-term sustainable.
Decentral Games ICE Poker is the first free play-and earn poker game launched in Decentraland in October 2021 that accounts for ~60% of Decentraland’s weekly active users. If you hop into Decentraland and view the top scenes, you will be directed to an ICE Poker venue where you can play and interact with thousands of other real people, a social experience that no other open metaverse platform has been able to deliver.
ICE Poker has onboarded and will continue to onboard users into Decentraland and the Decentraland wearables ecosystem by delivering direct utility through self-custody and delegation of Decentraland wearables. After creating a Decentraland avatar and purchasing a wearable to play ICE Poker, many players explore other scenes and invest in adjacent Decentraland projects, as well as create their own inspired by ICE Poker.
In addition to ICE Poker, Decentral Games venues also host daily virtual events such as live music, artist showcases, NFT drop parties, comedy shows, and more.
The stats today:
- 12 live Decentraland venues
- 1,007 parcels of Decentraland LAND
- 8,000+ daily active players
- 203,000+ monthly visitors across all venues (April 2022)
Allocate $1mm USD worth of MANA to provide rewards for the ICE-USDC liquidity pool on QuickSwap. MANA rewards will be distributed over 3 months to those that stake USDC-ICE LP tokens.
- Within 10 days following the final binding proposal passing, $1M USD of MANA would be sent to dgtreasury.eth to distribute to folks staking the ICE-USDC LP.
- MANA will be distributed by smart contract, available claim in proportion to the amount of LP staked and the amount of time that LP is staked.
- 0 MANA will be earned/retained by the DG DAO Treasury and DG Team. Specifically, the DG DAO will not stake the LP it provides to the pool, so all rewards will go to community members staking LP tokens.
Daily active and concurrent users are Decentraland’s key differentiator within the nascent metaverse space, where several new competing virtual world platforms are launching and investing millions of dollars into engaging content creation.
This proposed MANA allocation is not a grant for the Decentral Games team – its entire purpose is to maintain daily active and concurrent users within the Decentraland and Decentral Games ecosystems as the Decentral Games team completes development and launches ICE Poker SNG. The LP rewards are a bridge to begin reversing DCL’s DAU decline and return to growth.
ICE Poker SNG is a new, competitive game mode that drives organic demand and utility for ICE as it offers highly skilled players a quicker clearer path to wearable ownership. Following this temporary 3 month rewards period and the launch of ICE Poker SNG, the ICE Poker ecosystem will be self-sufficient and long-term sustainable.
Since the Stage 1 proposal was posted, it’s been inspiring to see all the stories of Decentraland creators’ events being well-attended by the ICE Poker community, the ICE Poker community investing in other wearable creators/games, and even cases where folks who found Decentraland via DG have since started their own venues, projects, and games in Decentraland. This initiative would welcome ICE Poker players (folks who use Decentraland every day), wearable owners, and the Decentraland community at large to provide this LP, earn MANA, and further participate in the Decentraland DAO.
Why should the Decentraland DAO itself fund these rewards?
The Decentraland DAO has assigned $200mm in MANA to their Ecosystem Fund to fund development of engaging content in Decentraland. ICE Poker has already proven its ability to deliver value to Decentraland by driving the majority of Decentraland’s daily active and concurrent user growth in 2022. The majority of the Decentral Games treasury is locked in illiquid Decentraland LAND, LP for DG and ICE, and a Polygon Validator node.
Why $1mm and why 3 months?
$1mm USD in MANA would provide sufficient rewards over a 3 month period to allow the Decentral Games team to deliver on building, launching, and growing ICE Poker SNG, which will enable the ecosystem to self-sustain following the ending of the rewards.
From a proposal execution perspective, why should DG distribute the MANA rewards?
The DG DAO has already implemented audited smart contracts to make rewards tokens claimable for staked LP on decentral.games, so it makes sense for DG to do this execution. To reiterate, the DG Treasury and Decentral Games will earn 0 MANA. The rewards will go entirely to the community.
A note from the DG Project Lead and Founder, Miles Anthony:
“We’ve had conviction around Decentraland and its role in delivering an interactive 3D frontend for the open metaverse from its inception in 2017. Since then, we’ve purchased 1000+ parcels of LAND and invested millions of dollars to build engaging content to attract and retain over 60% of the platform’s users. This MANA allocation is a stepping stone to assist in stabilizing 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. With the support of the Decentraland team and community, we look forward to onboarding the next million users into Decentraland and the nascent metaverse.”
Vote on this proposal on the Decentraland DAO