[DAO: QmVCfrG] MANA incentives for USDC-ICE LP on QuickSwap

Governance
1

by 0x521b0fef9cdcf250abaf8e7bc798cbe13fa98692 (Kyllian)

Decentral Games ICE Poker is the first metaverse-native poker game. ICE Poker is a free play-and-earn poker game that gives players economic freedom through self-custody and delegation of wearables.

In addition to poker, Decentral Games venues also host daily virtual events such as live music, artist showcases, NFT drop parties, comedy shows, and more. DG has experienced significant growth since launching ICE Poker in fall 2021 and have onboard thousands of people into Decentraland.

Decentral Games is continuing to grow the ecosystem by launching competitive tournaments and metaverse advertising in our venues. We’re targeting July to launch sit-and-go tournaments which will increase product stickiness and improve our scaling to onboard the next larger wave of users into Decentraland. The stats today:

  • 12 live Decentraland venues
  • 1,007 parcels of Decentraland LAND
  • 8,000+ daily active players
  • 40,000+ weekly visitors across all venues

All told, Decentral Games Venue visitors and ICE Poker players account for ~60% of Decentraland’s weekly active users!

PROPOSAL

Assign $1M 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 bootstrap the pool. This is temporary (3-month) support while sit-and-go tournaments are developed, launch (July), and ramp up.

Note 1: If the final proposal passes, within 10 days following the proposal passing, $1M USD of MANA would be sent to dgtreasury.eth to distribute to folks staking the LP, but no MANA would be retained/kept by the DG DAO. Specifically, 0 MANA will be assigned to the LP that the DG DAO itself provides to the pool (DG DAO won’t stake LP), so all rewards will go to these Decentraland community members staking LP.

Note 2: While this request would exceed the grant threshold, these are liquidity incentives for an LP pool on QuickSwap rather than a grant to the DG DAO (which would earn 0 MANA).

RATIONALE

The DCL DAO assigning MANA to bolster ICE-USDC liquidity (& $ICE price) would contribute to maintaining Decentraland’s DAU. As mentioned in the proposal section, this would be temporary support for the pool (3 months).

Moreover, most ICE holders are not MANA holders and this would help correct for the imbalance that most users of Decentraland today are Decentral Games event participants and ICE Poker players that do not hold MANA; namely, this would be an avenue to welcome them into the DCL DAO as well.

The DG DAO has already implemented audited smart contracts to make rewards tokens claimable for staked LP, so it makes sense for DG to do this execution rather than Decentraland.

(Submitted on behalf of DecentralGames)

  • Yes
  • No
  • Invalid question/options

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

2

I see this proposal benefiting ICE far more than it benefit MANA and the Decentraland DAO.
How much people are currently staking in the USDC/ICE LP?
How does this community (people staking) overlap with the Decentraland community?

This seems to be a boost for ICE rather than a proposal benefiting Decentraland as a whole, I have my doubt that this MANA will actually benefit Decentraland users (wearables creators/content creators/DAO/etc…) and will instead be instantly sold to increase LP holders profit.

How will the distribution be done?
What algorithm/calculation will you do to distribute the MANA?
Does the LP holders are ICE players/DCL users?

Does DG/ICE ecosystem plan to refund the MANA when ICE goes back up?
Would DG be open to an exchange of MANA for DG?

1 Like
3

Is this about maintaining DCL DAUs or DG DAUs? The proposal mentions that most ICE holders dont have Mana, yet they are onboarded to DCL. Those two don’t really make sense. Offering Mana incentives may keep folks playing ICE poker, but that doesn’t mean they will start exploring DCL or decide to become active participants in the DAO. Mana will be just another reward that can be traded away. The other possibility is the ICE players keep all the Mana rewards they earn through this program, and the DAO effectively handed out 1million VP only to DG/ICE supporters, which can be used to continue taking grants with such a program.

Currently, DG has a treasury of $25 Million. If there is a need for extra incentives so the ICE poker players do not stop playing ICE poker, I think the DG treasury should be the first place to look.

4 Likes
4

I love Decentraland Games, and I am not voting no on this because @Kyllian votes auto no on all my proposals without any explanation tries to nuke not only all of my proposals, but several other peoples proposals as well with there whale amount of VP. I am voting no on this because I am confused on how giving $1,000,000 worth of MANA to ice players will do anything but cause MANA inflation just like when governments hand out FIAT. I am could be reading this wrong tho too so my mistake if so lol. I would rather see this $1,000,000 DAO money go to the DG founders, team and continued development as well as more budget for awards and tournaments to the DG players to help them continue to grow and lead the way in Decentraland space! As I said love DG and look forward to what they continue to do and would love to vote on something that would help them continue to grow as it is well deserved.

2 Likes
5

Just to clarify, it’s not my proposal, I just submitted it on behalf of DG because they had issues submitting it. I’m not the one who wrote it, I just copy pasted the text I was given and pressed send.

3 Likes
6

Is this simply a poll or a $1M grant to support ICE … if this is a grant i’d like to seriously know why this is 500k threshold… or are we just taking temperature ? My other question is… why are we allocating $1MILLION when Miles posted on twitter saying DG can handle any market conditions and that their treasury is good? https://twitter.com/0xMiles/status/1524783110692519944?s=20&t=tEhV2hF104WHv1Ez5tAJYQ

2 Likes
7

AGREED! They have their own DAO! They were just at 50M in treasury… what happens when $1M allocated to them is lost with the rest of the other millions, do we have a plan for this?

2 Likes
8

I side with @ALPHAALVES and @AaronLeupp on this one! Maybe to sweeten the deal, you should consider including a DCL challenge as part of the ICE daily challenges, like checking in to wisher vodka, Roustans or Babydolls, dice masters, etc This will force the ICE community to explore and interact with the DCL community and not just the casino.

3 Likes
9

aaah that makes sense. Sorry for confusion.

13

They are developing for mobile anyway…And theres been talks about creating their own 3d environment to get away from DCL’s “limitations.” Whats really going on here?

1 Like
14

I want to believe you are trolling with your math, but just to be sure the community doens’t use wrong data, this would be $10/player/month for 3 months, if there were in fact 33k separate holders.

15

Interesting that you’d suggest backing the community into a corner and shaking them down as a way tp grow that very community.

16

lol self pnwned, you are right

17

I agree that few proposals that passed giving grants that should not have, but I feel like 1M is bit excessive especially in this market that I don’t see see much of a benefit for anyone in adding more LP, also DG had 700k MANA (might be more) profit from casino which they swapped out for DG instead, also your comments are coming out like some kind of a threat “give us 1M$ or else”. DG was profiting off the casino (and can continue to do so) and we were the ICE investors that are taking the L and now who will pay the price to stabilize/increase the LP of ICE token after constant sell pressure the DCL DAO, and this DAO request for the vote is not ordinary where VP threshold is much bigger to reach and the maximum grant that you can ask for is 240k, I feel like the DG treasury needs to be used first (they have 4.5M in DAI) to stabilize the project also on what else would all that DAI be used for if not to weather out the storm.

1 Like
18

Funny to see DG asking for 1m MANA to stop their ponzinomics melting even further. What will the regular DCL user gain from that?

19

The Decentraland DAO has a 200M treasury for ecosystem grants. A grant of 0.5% of the fund to a project who has brought over 60% of the daily active traffic to the platform is reasonable. We are looking for temporary support from the Decentraland community until we can launch and stabilize ICE Poker Sit n Go Tournaments, along with other new game modes that will sustain ICE Poker long term. I detail the design here: https://twitter.com/0xMiles/status/1520086507381346304

In terms of metaverse virtual world platforms, Decentraland is still in the lead, but there is a LOT of competition coming. Decentraland’s edge is real users, while competitors are not live yet (at this point in time but they also have billions to invest in projects building on their platforms). Losing all the DAU from DG and ICE Poker will remove Decentraland’s edge by over half.

We understand that 1M is a large allocation, but we have shown that we can deliver, and we are confident that this grant will get us to where we need to be in a few months as we prepare to onboard the next million users into Decentraland.

10 Likes
21

Using a fraction of the DCL treasury to support the most viable project in DCL (or any viable DCL project for that matter) should not be controversial.

People voicing opposition are viewing the proposal as zero-sum, which it is not.It’s a long-term win-win.

DG thrives within a thriving DCL, and DCL thrives with projects such as DG, serving as proof-of-concept of metaverse viability, and a major traffic and visibility source.

4 Likes
22

Im not suggesting backing the community into a corner, im just stating the facts:

  • Developing in DCL takes 5 times longer than working on a standalone app given all the failures it has
  • DG represents 60% of the users
  • MANA started pumping when daily active users started growing

This is a common practice in which grants are given to projects who develop over a certain ecosystem to generate user acquisition and adoption. Binance smart chain, polygon, solana, cardano, and the list goes on, all of them offer grants to projects who can drive users to their ecosystems, and in this case why it should be different?
Again, we are speaking about 60% of the DAU, not 3%

1 Like
23

Voted no:

  • I don’t think Decentral Games need help to create the rewards
  • Not even MANA pools have rewards on QuickSwap (as far as I know)
1 Like
24

DG is what is driving users to DCL, thats what a regular user will gain.
Do you think that samsung, jp morgan, and all of the fashion brands want to develop over a empty metaverse?
To the people writing here, when was the last time you entered DCL? Cause its surprising to see that everyone is talking like if the world was full of people, when actually there are only users at DG venues.