• MANA price rises after Decentraland DAO approves a $1 million donation for Decentral Games

  • As the crypto market turbulence continues, cryptos with metaverse backup, such as Decentraland (MANA), have remained tall while others have plummeted. MANA, for example, gained today when Decentraland DAO voted to offer Decentral Games (DG) a $1 million gift.

    MANA was trading at $0.8399, up 1.98 percent, at the time of writing.

    Decentraland approves DG grant request

    Platform for decentralization and metaverse The DAO approved the DG’s petition last month to offer them a $1 million grant to fund their liquidity pool. However, this amount is more than four times larger than the $240,000 community grant awarded in MANA. The DAO uses these grants to fund projects that help guide the platform’s evolution.

    The grant, according to the DG’s application, will provide rewards to its ICE-USDC liquidity pool on QuickSwap. The ICE token is used in the DG play-to-earn ICE Poker game, which will be released in October 2021. The MANA from the DAO will be delivered to users for over three months for those staking USDC-ICE LP tokens.

    Miles Anthony, CEO and Co-Founder of Decentral Games, stated:

    “This MANA allocation is a stepping stone to assist in boosting 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.”

    The effect of DG on the Decentraland ecology

    According to Decentraland, DG has been a prominent player in its ecosystem, with the ICE Poker game accounting for around 60% of its weekly active users and over 8000 active players daily in 12 distinct decentral venues, in addition to purchasing thousands of Decentraland land packages.

    The idea was approved by DAO members.

    To ratify the proposal, a total of 191 DAO members with more than 11 million Voting Power (VP) voted, with 151 members voting in favor of the proposal and 40 voting against it. The victors are determined by Voting Power, which must be greater than 6 million VP, and in this case, there was a 6,162,990 VP versus 4,952,747 VP.

    The VP is based on the total of LAND, MANA, and NAMES associated with the Voter’s wallet. In this situation, large holders can impact a vote in which only 10 people amount for 81 percent of the VP vote. However, the DG team also played a significant contribution in reaching the VP barrier by casting 2 million votes.

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