[DAO: QmdD8d9] For Decentraland Daily Active Users: MANA incentives for USDC-ICE LP

Governance
1

by 0xbef99f5f55cf7cdb3a70998c57061b7e1386a9b0

Linked Pre-Proposal

MANA incentives for USDC-ICE LP on QuickSwap

Summary

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.

Abstract

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.

Motivation

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)

Specification

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.

Details:

  • 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.

Conclusion

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

View this proposal on Snapshot

2

With all due respect, let’s get down to brass tacks! The partnership between Decentraland and DG needs to be a win-win for both communities. What else can DG offer the community other than what they keep telling us? I urge my fellow DCL community members to develop ideas on how this could make this a positive experience for both parties. I suggested that there need to be DCL daily check-in challenges to be added in the last poll proposal. Any other suggestions?

2 Likes
3

Reference link: [DAO: QmVCfrG] MANA incentives for USDC-ICE LP on QuickSwap - #8 by TheGoldGuy

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I owe a lot of my crypto knowledge to the decentraland metaverse. Decentral games hosts took the time to teach me all the intricacies of DCL from graphics optimization to the difference between mana on polygon vs Ethereum. I now know how to create wearables and deploy scenes in DCL. I owe this to community members from both dcl and DG.

I’m now inverted in holyones dao, snarky sharks, divine Satoshi and more. I learned about all of these spending time at fun engaging events mostly at Tominoya, including prominent members of this dao.

Decentral games venues have become a regular part of my life, in addition to a few others like wonderzone and I visit every new scene I see someone in.

Point is…I’ve learned so much from these social venues created by decentral games. They are honest and hard working people with the big picture in mind.

For Miles to request this from dcl I don’t take lightly. Its necessary to keep the economy moving forward through this toih time. The project rocketed faster than expected and we need this to help keep things going strong. The will get there either way, but it would be nice to have some support and know that the decentraland team is behind DG and wants it to succeed too right?

5 Likes
5

There is another proposal asking for similar incentives that already passed to the next step of approval. There is no need to make a new proposal, any changes and improvements can be disused on the old proposal.

My bad, this is the correct place to discuss. This is not a new proposal, but the draft for the previous one.

6

There is some information missing in the proposal, it says:

We need to allocate $1mm in MANA on USDC-ICE pool rewards in order to stabilize our in-game economy.

But there is not explanation on how one thing follows the other.

  • How adding rewards will stabilize the economy?
  • In what way the economy is destabilized right now?
  • What exactly do you expect to happen to the economy once the rewards are put in place?
6 Likes
7

I imagine this ties to the other one. If so then voting yes. I own Ice wearables. I delegate ice wearables to people to enable them to make crypto. Those delegated get to experience DCL. I have onboarded hundreds of people by giving them wearables. That cost was off set with my ice winnings when ice was good. Ice enabled me to hire curators to make my designs. That put money and mana into the community. In turn I have invested money back into DCL via other creators wearables and name purchases. As well as grew my Ice wearables to enable more players. At one time having ten players. The price of ice falling and this bear market has caused some players to leave. In General i notice a good bit have left DCL. I draw the conclusion DG is good for DCL and DCL is good for Dg.

8

How will adding rewards stabilize the economy?
It’s a lot to explain in a way that is easy to digest but doesn’t gloss over any details to the point someone won’t nitpick, but I’ll try my best:
- Currently, more people sell $ICE than buy it. When more people sell a token than buy it, the price decreases.

What exactly do you expect to happen to the economy once the rewards are implemented?
By offering the ability for anyone to pair $ICE with USDC and stake it in a liquidity pool and be awarded $Mana, people will have a reason to both buy $ICE and not sell the $ICE they earn.

How does adding rewards help stabilize the economy?
Thee would be more people buying ICE than selling it. The price would go up.

Now I assume your followup question is, “What is going to change that this isn’t putting a finger in the dike?”

The answer is: Single Table Tournaments, and eventually Multi-table tournaments.

This will be a feature ready in July and give ICE more utility and ways for the defend of DCL to win prizes that aren’t just ICE to sell.

As for @TheGoldGuy’s argument, it is lazy and intellectually dishonest.

The partnership between Decentraland and DG needs to be a win-win for both communities

This premise is built on the faulty foundation that Decentral Games is not part of the Decentraland community, that Decentral Games brings no value to Decentraland, and that building Decentraland isn’t exponentially more complicated than building in any other environment.

There is no denying DG’s contribution to the DCL ecosystem, and any attempt to ignore the data is unreasonable to insanity.

Asking Decentral Games to create new challenges and presenting it as a reasonable compromise can only be done by someone ignorant of the realities of development,
combined with the continued refusal to understand that DG isn’t pocketing any of this mana.

Besides the point, the idea that requiring people to go around DCL as part of completing challenges is like poaps on steroids, and there is no reason to believe that paying people to attend events is going to get you anything besides hordes of people overwhelming the scene for people who actually want to attend.

2 Likes
9

No again.

  1. The dao funds are not for this, in my opinion.
  2. A million mana won’t fix ice’s economy, it’s like burning 1 million mana.
  3. DG have founds to add by itself 1 millon of mana as reward. They could sell unused lands too, getting new owners/devs for decentraland.
  4. If I get together with several friends and ask for 10 million mana to go camping, should they give it to me if I get enough votes? I expect a security block of this proposal by the foundation if finally was approved. Only the beneficiaries vote yes.
3 Likes
10

I vote no again. DG should fund themself.

You ask for funds = it needs to be a grant proposal

Do like all the others, and create a legit grant proposal

2 Likes
11

I don’t think this proposal can benefit DCL. People that will get the rewards will simply dump them on the market.

This will only artificially inflate Ice Price for a few months, which is not the best way for a project to achieve sustenability. DG needs to find a different way to solve this mess, not by using DCLs treasury.

Sng mode doesn’t guarantee the project will become sustainable, it s more like wishful thinking.

2 Likes
12

IceIceBaby, why did you decide to join DCL in the first place?

13 tqgav

1 Like
13

@Manzier – Really appreciate the kind words and you’ve certainly become a staple in both the DG and DCL communities.

@TheCryptoTengu – Likewise, appreciate your perspective. As mentioned in this 2nd draft of the proposal, it’s been inspiring to hear these stories from folks in the broader DCL community across Discord and Twitter.

@Ina & @Klockmann – This valid DCL DAO proposal is not a grant to the DG Team or DG DAO, and the DCL Ecosystem Fund was set up to fund the development and growth of Decentraland. Appreciate your feedback and want to understand your perspectives: Is it your opinion that the LP rewards would be good for DCL but that the proposal structure is technically invalid?

@IceIceBaby – We lay out in detail in this 2nd draft of the proposal how this benefits DCL but appreciate your perspective and that you’re not convinced nonetheless.

@Eibriel – Those are excellent questions. As an aside, I’ve come to admire DCL’s 3-stage governance process wherein we have the ability to improve and elaborate on the core points and rationale each time. In this case, we’ve taken for granted some points that are obvious to the DG community but not the DCL community at large… we do need to correct that and will go into more detail in the 3rd stage (if we get there). For now, in short: The requested MANA LP rewards would generate a temporary demand to hold/buy ICE to offset the imbalance while these advertising & SNG (additional sustainable sources of burn) are implemented and ramp up. To our point about definitions, an p&e economy is said to be “imbalanced” when earned > burned. As a final note here, we have closed more than half of this imbalance over the last 2 months via recently passed DG DAO proposals and proven we can make progress here.

1 Like
14

I was playing poker and saw some users’ balance drop to -30 thousand chips. Remove the bots. First, deal with the game so that it does not throw 6 cards on the table and so on. You’re pulling money out of DCL people, what’s the use? Free mechanics and drops are not implemented in any way, everything is tied to sucking money. An ordinary user has nothing to do at DG casino, except to collect POAP from time to time. I wrote about the problems in discord DG stupidly banned

1 Like
15

The only question for me is whether DCL get’s value for money from this proposal. The upside is demand as thousands of daily users already use the casinos. The threat of not stabilising the largest single DCL user base could be people not coming back, finding other Metaverse projects instead.

Indirectly stabilising ICE allows players to purchase their own NFTs, tying them in to the DCL ecosystem. Not doing so could see a run on the wider DCL and NFT ecosystem. Land values go down, less value is created.

Hence for me it’s a no brainer and I voted yes. My only gripe would be that efforts to reduce emissions may have been communicated effectively to poker players, but might not entirely be understood by non poker players.

2 Likes
16

Thanks for sharing your thoughts, @Spinflight. We agree with you and @Eibriel that we should have gone into more detail about what we mean by “stability” and the current state of the ICE economy including the progress we’ve made to-date. For now, I can share this tweet thread that details it, but we will include more covering this point in the 3rd stage of the proposal if we get there:

3 Likes
17

Okay i just read it as a grant, since you ask for money from the community, therefor i think it should be a grant-proposal.

And with my personal experience with DecentralGames, i’ve been treated very interesting in a misunderstanding. Context: Wearable Issue, DG staff banned me for a misunderstanding - would love to get unbanned from the discord server, since i feel it was a overreaction and misunderstanding. (Sorry this is not the place to say it, but can’t reach you since im left out)

I would love to vote yes on this proposal but…

  • I see this as a grant, therefor if money is being transfered from DAO, it should be listed as a grant. If i just misunderstood, and it’s not a grant, then it’s OK.
19

Won’t it cause ICE to absolutely crash as soon as the rewards run out? I understand that there will be SNG Poker by then, but will it be enough to absorb all the ICE that would be sold as soon as there is no more rewards to stake it?

2 Likes
20

I’m voting yes for this proposal. DG’s scenes have pioneered usecases for Decentraland, and their investment in building for Decentraland has provided us a lot of feedback, which was key in iterating and improving our technology stack.

Having said that, this is still not yet a binding proposal, but it looks like it’s going to get promoted to the third and last stage.

2 Likes
21

I’m voting yes on supporting DG, but as I see this proposal is having pushback from parts of the community I’m just throwing an idea out there: would this proposal have less pushback if the incetivized pair were ICE-MANA? That would still increase liquidity and should support the price of ICE, and it would let a broader part of the community to participate (otherwise MANA holders would need to sell mana to USDC or ICE to participate). Also it helps deepening the liquidity of MANA on polygon. Just an idea.

3 Likes