ICE Poker: A HUGE CHANGE
Skip to the bottom for a TL;DR and link to the proposal.
As anyone involved with ICE Poker can tell you, Decentral Games has been working to balance the ICE burn-to-earn ratio to stabilize the price of ICE since shortly after launch. While in a perfect world, a gaming community would spend the majority of its time talking about new features and how to maximize fun, we can not deny our web3 gaming roots.
Many people made their way to web3 gaming via crypto and trading. It's easy to understand why they are focused on the price chart and unable to appreciate the improved product.
Governance proposals, including reducing emissions from Metaverse Challenge Mode, switching activations to ICE, and committing revenue from different sources to buy ICE, are a few of the changes implemented. Additionally, they have introduced Banked ICE and gamified the burning of ICE with Tournament Mode to increase demand.
Despite progress, the 1:1 burn-to-earn ratio has yet to be reached, and you don't need to spend 24 hours in Discord to know it's the only thing 80% or more of people want to discuss.
The proposal aims to stabilize the price of the in-game currency, ICE, by implementing a series of measures to reduce emissions and increase demand.
The first measure is to allocate Metaverse advertising revenue and secondary sales royalties revenue to purchase ICE. Additionally, the ICE rewards per challenge will be halved biannually with the first halving event occurring on February 15th, 2023.
This change will cap the ICE supply similar to the capped supply design of Bitcoin. The team will be allowed to adjust the ancillary economy elements like ICE activation and upgrade costs as needed. If the burn-to-earn ratio reaches above one without treasury purchases of ICE, 50% of secondary sale revenue and metaverse advertisement revenue will be used to buy ICE, and the other 50% will be accrued in the treasury.
The economic surplus, all ICE/Shine burned above the amount awarded that week, will be distributed to All Access wearables holders weekly via a randomized ICE/Shine drip.
The economic surplus will be calculated as the net revenue from Shine and upgrades minus emissions generated from them and given to active owners of All Access wearables as bonus rewards. The team is allowed to update the price of Shine in ICE to ensure its value does not exceed 1.5 USD.
This proposal hopes that by implementing a finite supply cap on the token, ICE, through biannual halving events similar to bitcoin's capped supply, the narrative of digital scarcity and reaching a 1:1 burn-to-earn ratio (i.e., the amount of ICE burned through SNGs/Upgrades is equal to the amount earned by the players from the daily metaverse challenge mode payouts) that the players and community will be excited about the future of ICE and hold on to it.
Decentral Games will launch updated rewards for ICE Poker Flex, combined with the halving of ICE emissions should both give people something to do with their ice and a reason to believe it won't continue to lose value in the same way it has for the last several months.
I have always believed that the team can deliver a quality product if given a reasonable amount of time. Ultimately, the success of ICE Poker and Decentral Games hinges on the team's ability to create fun things to do with ICE.
If a down-trending token is going to be a distraction, it makes sense to address that, so the focus can be on creating the best possible product.
This change makes ICE worth holding if you believe in the team. Because as the team continues to execute and build out the ICE Poker ecosystem and, eventually, new games, there will be more and more games to play and ways to win using ICE.
ICE Rewards are going to be cut by 50% on February 15th.
ICE Rewards will be reduced by 50% every six months.
New Prizes for ICE Poker Players: Sweaters, iPhone, etc.
New Rewards for ICE Poker Owners: Surplus Raffles.
I'm saving my ICE
Miles goes into a bit more detail in his proposal, which you can read at: https://snapshot.org/#/decentralgames.eth.