Decentraland DAO Issues $1 Million in MANA to Support ICE Liquidity
Decentral Games, one of the pivotal elements of the Decentraland (MANA) Metaverse ecosystem, receives the largest grant in the history of the platform to boost the liquidity stream of its main LP mechanism.
Decentral Games receives $1 million grant in MANA
According to the update shared on Decentraland's main community forum, the proposal to issue a $1 million grant to Decentral Games was approved on June 13, 2022.
The governance proposal to allocate $1M USD in MANA to incentivize the ICE-USDC Quickswap LP has passed!
We appreciate all the support from the community in order to make this happen.https://t.co/vRm9antRzB— Decentral Games (@DecentralGames) June 17, 2022
The proposal was approved with a tight margin: 56% of MANA holders voted for it, while 44% of them said "no" to the idea. In total, almost 200 enthusiasts took part in the referendum.
As the proposal passed, a total of $1 million in MANA equivalent will be distributed between USDC-ICE liquidity providers on QuickSwap DeFi protocol.
The incentive will last for three months in a row to motivate LPs' activity in the mentioned pool.
Matthew Howells-Barby, CMO of Decentral Games, highlights the crucial importance of this initiative for the ecosystem progress of his product:
The passing of this proposal shows the support we have from the Decentraland community and how important Decentral Games has become as a major contributor to daily active users. These incentives will enable us to create further stability to our ecosystem ahead of rolling out our new sit-and-go poker tournament mode that we believe will bring a whole new experience to our Decentraland venues and will help us to onboard thousands of new users to the nascent metaverse.
Sit-and-go tournament mode release is in the cards
Miles Anthony, CEO of Decentral Games, highlights that his protocol is one of the backbone elements of Decentraland Metaverse design and economics:
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. With the support of the Decentraland team and community, we look forward to onboarding the next million users into Decentraland and the nascent metaverse.
In the coming weeks, Decentral Games is set to launch its much-anticipated development, a sit-and-go tournament mode for its on-chain gaming products.
Decentral Games representatives highlighted that this initiative is not a grant for the Decentral Games team. Instead, it is designed to stimulate the activity of the LP community.
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