Following passed DG Governance proposals, today we are officially live with:
- 1:1000 DG Token redenomination and migration (token split)
- DG Governance V2: xDG featuring auto-compounding of rewards
- Liquidity Pools for New DG: DG-ETH pool on Uniswap (Ethereum Mainnet), and MATIC-DG and xDG-DG liquidity pools on QuickSwap (Polygon)
We will be live soon with:
- Decentral Games Governance V2: Snapshot Voting with Old and New DG
- ICE NFT Minting, Activation, and Upgrading Using New DG
- DG Gameplay Rewards Using New DG
1. DG token Migration and Redenomination
After the DG community’s overwhelming support for a DG token redenomination and split (99.97% voted in favor), the new DG token is live! You can now migrate your old DG tokens 1:1000 to the new DG! This 1:1000 ratio establishes the new DG token with a 1B fully diluted supply cap, which will be reached within ~5 years.
We understand migrating DG currently on Ethereum mainnet will be expensive due to high gas fees. To help mitigate the gas expenses during migration and staking, we’ve boosted governance rewards to 3x, delivering a much higher APY for the earliest stakers, effective immediately.
We have a seamless 5 step process to ensure you unstake, claim old rewards, and ultimately migrate to the new DG and stake in DG Governance V2. For folks who wish to swap to the new DG on Polygon, you can skip to step 5.
2. Decentral Games Governance V2: xDG
DG Governance V2 features auto-compounding of rewards, a huge improvement from the constant claiming and restaking of rewards in DG Governance V1. To kick DG Governance V2 off in style, rewards will be 3x the normal rate!
When you stake DG in Governance V2, you receive xDG, a token that represents your share of the DG in the DG Governance V2. The initial rate of DG to xDG will be 1:1, but as rewards are added, 1 xDG will be worth increasingly more DG. This way, rewards accrue to your stake automatically.
Another huge benefit of DG Governance V2 is that xDG is transferable to different blockchains. To enable folks to enter DG Governance V2 with nominal fees, we’ve established liquidity in xDG on Polygon.
3. New Liquidity Pools
The DG treasury has allocated liquidity on Ethereum and Polygon to welcome trading in new DG and xDG:
- $3-4M USD in ETH-DG on Uniswap V2 (Ethereum)
- $4M USD in DG-xDG on Quickswap (Polygon)
- $3M USD in MATIC-DG on Quickswap (Polygon)
In order to reduce long term DG emission, the new DG-ETH pair on Uniswap will not have LP rewards.
4. Decentral Games Governance V2: Snapshot Voting with Old and New DG
The DG Governance V2 Snapshot dashboard will be live in 1-2 weeks. Votes will be allocated:
- 1 vote per xDG on Ethereum
- 1 vote per xDG on Polygon
- 1,000 votes per old DG staked in DG Governance V1
DG Governance V2 voting will be accessible through the same DG Snapshot.
5. ICE NFT Minting and Upgrade Using New DG
DG is utilized in the ICE Poker ecosystem for ICE NFT mints, activations, and upgrades.
ICE Poker NFT Minting — Addresses with 1 old DG staked in DG Governance V1 will still qualify for ICE Poker NFT mints. Addresses can also qualify by holding 1000 xDG on ETH Mainnet or Polygon.
ICE Poker NFT Activations and Upgrades — ICE Poker NFT activations will update from .5 old DG to 500 DG and upgrades will update from .1 old DG to 100 DG within 1-2 weeks.
We will announce when these changes are live in the DG Discord #announcements channel.
6. DG Gameplay Rewards Using New DG
DG tokens distributed as gameplay rewards in crypto blackjack and roulette will also be migrated to DG on Polygon within 1-2 weeks.
We understand it’s a process to migrate to the new DG Token and Governance V2, and we are confident this new token and governance structure is better for the long term health of the DG ecosystem. The xDG token being accessible from a lower unit price with nominal gas directly on Polygon will welcome exponentially more members into the community.
If you experience any issues with unstaking, migrating, and restaking please reach out to our support team on Discord by opening up a support ticket. Our support team is now 20 strong, and responds immediately.