Welcome to the 52nd edition of the Decentral Games Newsletter! Our objective is to keep our community informed of development progress, treasury performance, and upcoming events. Join our Discord and follow our Twitter for more frequent updates.
✅ Summary
ICE Poker Delegation Dashboard
ICE Joker Mint
New DG Governance Page
Development Focus
🔨 ICE Poker Delegation Dashboard
The ICE Poker Delegation Dashboard is now live! ICE Poker NFT delegators can view it here.
When we launched ICE Poker, building native, trustless delegation was already a game-changer in the broader play-to-earn space. The delegation dashboard takes the experience to the next level by democratizing the upside to ICE Poker NFT asset yield to anyone in the DG community. ICE Poker NFT holders can now effectively manage and scale their own ICE Poker guild.
More Transparency, Better Gameplay
The delegation dashboard improves ICE Poker gameplay due to the increased transparency around player performance. As seen below, ICE Poker NFT delegators can easily track the performance of the players borrowing their ICE Poker NFTs. Key performance metrics include a breakdown of players’ average daily ICE earned, total ICE earned, check-ins completed, challenges finished, and average leaderboard tier placed.
A Deeper Dive into Each Player
Beyond offering owners the data at an aggregated level, by clicking on the ‘See History’ button on any row, you can hone in on any player’s specific historical performance:
Track Your Guild’s Holistic Performance
Finally, the improved Claim ICE Rewards tab provides a weekly breakdown of your ICE Rewards to track the daily performance of your guild. After all, you are running a business, and you need to be able to track the holistic revenue of your business over time. The new ICE Rewards page of the delegation dashboard addresses this.
We're proud of what we've delivered with V1 of the dashboard, and we envision our guild management dashboard to be an ongoing project that increasingly adds value through increased transparency, effective guild management, and most importantly, higher quality gameplay.
Reverted Blinds and Buy In
The increased blinds and buy in were reverted back to 10/20 following feedback from the community.
🃏 ICE Joker Mint
We conducted the ICE Joker mint on Thursday, distributing 1,250 new ICE Poker NFTs to the community for .5 ETH each.
The drop sold out in just three minutes, and added $2.1M to the DG Treasury. Following this DG Governance proposal, the funds were allocated towards:
Buy $400k DG (purchased $100k per day)
Add $800k to MATIC-DG Quickswap LP
Add $90k to ICE-USDC Quickswap LP
Convert $400k to DAI
We now have a total of 5,750 ICE Poker NFTs in circulation corresponding to 4,970 daily active ICE Poker players.
🔨 New DG Governance Page
The DG governance dashboard now features a comprehensive xDG breakdown + seamless staking and un-staking on both Ethereum and Polygon. You may view it live here.
💻 Development Focus
This week, the DG team is working on:
New Player/Delegator Splits
New splits for higher ranked ICE Poker NFTs to provide a greater incentive for ICE Poker NFT owners to upgrade while players still receive slightly more ICE on average for playing with higher ranked NFTs.
We were originally thinking 4% change per rank, but have since updated this split to a 3% increase for the NFT owner per rank increase in order to ensure that the player is still earning more ICE on average from higher ranked NFTs. This approach incentivizes owners to allocate their highest rank NFTs to their best players, and from a player’s perspective, they are incentivized to hone their skills and perform for the privilege to play with coveted wearables yielding the highest earning potential.
Improving ICE Poker Gameplay
We are improving how we store player chips balances in ICE Poker to prevent abuse with multiple tabs/accounts that results in large negative balances of some folks on the leaderboard.
Additionally, we will implement a cooldown period that increases in time every time you leave a table, and IP checks/assigned seating to prevent against collusion. We believe that these three major updates will drastically improve the ICE Poker gameplay experience.
Improving ICE Poker NFT Minting Experience
The main issue that prevented some folks from minting last time was rate limiting from refreshing too often and nonce issues in submitting transactions (due to the amount of transactions being sent simultaneously).
We’ve identified how we can improve for next mint, and will be delivering a better experience with higher mint throughput and functionality to automatically activate the mint button without requiring a refresh.
💰 DG Treasury Snapshot
The DG treasury now holds $60.60M.
DG Purchases
We’ve purchased $100k of DG per day following the ICE Poker mint on Thursday, for a total of $400k so far, and $900k more to go. The DG purchased will be allocated towards future governance rewards for xDG holders.
ICE Poker NFT Mint Revenue
Last week, the ICE Joker NFT drop generated $2.1M in ETH.
ICE Poker NFT Royalties
Last week, the ICE Poker OpenSea collection accumulated 644.16 ETH in secondary market trading volume, generating $106,591 in royalties for the DG treasury.
ICE Poker NFT Activation/Upgrade Revenue
Last week, 254,500 DG ($127,204) was added to the DG Treasury from ICE Poker NFT activations and upgrades.
Visit the Treasury Dashboard to view DG Treasury balances in real time.
🏛 Active Governance Proposals
The following proposal has passed and is currently being implemented:
Use of Mint Proceeds for Next 2 Drops
This proposal would allow the DG team to use the proceeds in ETH from the next ICE Poker mint to (1) add to DG and ICE LPs, (2) buy back DG, (3) or convert to stable coins to establish reserves.
Rationale
Nearly all set here, but we're a little short of $5M ETH-DG LP target now that ETH has declined, and we'd also like to have ~$1M more LP for Matic DG for more depth on Polygon (Note: $1M in LP requires $0.5M ETH --> Matic since the other side of the pair is DG).
Based on the expectation that we will generate > $5M in revenue this month (that's > $60M annualized, even assuming no growth) and $DG has a circulating market cap of ~$110M, we believe the token is significantly undervalued. Buying back some of the token today for future use (e.g. distributions to xDG holders) is a good use of funds at this time.
Most of the assets in the DAO (e.g. Matic, LAND) are highly-correlated with ETH and the broader crypto market, so it makes sense to start establishing a hedge.
To make a new proposal, visit the Decentral Games Snapshot dashboard.
📆 This Week’s Events
Virtual events bring the community together each week to play games, hang out, enjoy live music and win prizes! Make sure to swing by and claim your Decentral Games POAPs at the following events this week:
Monday, Jan 17
Crypto Game Night with DJ performance, featuring $1,500 USD+ in prizes up for grabs @ 9pm UTC / 4pm EST 👉 RSVP | Hop in
Thursday, Jan 20
Asia & Australia Crypto Game Night, featuring $1,500 USD+ in prizes up for grabs @ 1pm UTC / 8am EST 👉 RSVP | Hop in
FREE PLAY Game Night - Up Late w/ DG featuring HIP HOP Night, featuring $250+ USD in prizes @ 6pm PST (1am - 2am UTC) 👉 RSVP | Hop in
Friday, Jan 21
FREE Play Game Night Asia & Australia with music mixed by DJ Raedo, featuring $1,500+ USD in prizes @ 1pm UTC / 9am EST
👉 RSVP | Hop inExclusible Presents the NFT Paris Metaverse Party w/ 2hr LIVE set by DJ Pop RoXxX @ 7pm UTC / 2pm EST 👉 RSVP | Hop in
Crypto Game Night featuring $1,500+ in prizes up for grabs, with DJ performance @ 9pm UTC / 4pm EST 👉 RSVP | Hop in
Sunday, Jan 23
SUNDAY FUNDAY Crypto Game Night, featuring $1,500 USD+ in prizes up for grabs @ 11pm UTC / 6pm EST 👉 RSVP | Hop in
👉 Check our events page for easy access to upcoming events!
DG Token Migration
95% of the original $DG tokens have been migrated to the new DG, which now has a supply of 378,753,695 DG. Read the full blog post here, and migrate your DG tokens using our seamless step-by-step process here on Ethereum or Polygon if you haven’t already.
Caution: Beware of Phishing
Scammers impersonating the DG Team have been targeting community members through Discord DMs. If you have any doubt, please reach out to a verified DG team member. DG team members will never DM you nor request you to connect your wallet to a non-DG site.
About Decentral Games
Decentral Games builds games that give players economic freedom through aligned incentives, self-custody and delegation of yield-bearing metaverse assets. Decentral Games’ play-to-earn metaverse poker game (ICE Poker) generates revenue for the DG Treasury through NFT mints, secondary sale royalties, activations, and upgrades. xDG hodlers vote on DG Treasury allocation and economic policy to grow and strengthen the DG ecosystem.
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