As the crypto market ructions continue, cryptos with metaverse backup like Decentraland (MANA) have stood their ground as others take a nose dive. MANA, for example, saw gains today after Decentraland DAO voted to award a $1 million grant to Decentral Games (DG).
At the time of writing, MANA was trading at $0.8399, up 1.98%.
Decentraland Approves DG Grant Application
Decentralized platform and metaverse DAO approved the DG’s proposal last month to give them a $1 million grant to support its liquidity pool. However, this grant is more than four times the $240,000 community grant paid into MANA. The DAO uses these grants to support projects that drive the growth of their platform.
According to the DG’s proposal, the grant will offer rewards to its ICE-USDC liquidity pool on QuickSwap. The DG play-to-earn ICE Poker game, launched in October 2021, uses the ICE token. For those who stake USDC-ICE LP tokens, the DAO MANA will be distributed to users for over three months.
Decentral Games CEO and Co-Founder Miles Anthony said:
“This MANA allocation is a stepping stone to help boost our in-game economy as we prepare to launch ICE Poker Sit-n-Go tournaments, as well as other key initiatives that are driving organic demand and utility for ICE and solidify long-term durability.
DG’s impact on the Decentraland ecosystem
According to Decentraland, DG has been a key player in its ecosystem with the ICE Poker game representing around 60% of its weekly active users and over 8,000 daily active players across 12 different decentralized sites, in addition to having purchased thousands of packages. Decentraland terrestrial.
DAO members voted in favor of the proposal
For the proposal to be approved, a total of 191 DAO members with more than 11 million voting powers (VP) cast their ballots, with 151 members voting in favor of the proposal against 40 who opposed it. The voting power determines the winners, but it must be a threshold above 6 million PV and in this case there was 6,162,990 PV against 4,952,747 PV.
The PV is calculated based on the total of LAND, MANA and NAMES that are linked to the voter’s wallet. In this case, large holders can influence a vote where only 10 voters accounted for 81% VP. But the DG team also played a big part in throwing away 2 million to reach the VP threshold.