What is the issuance and circulation of MANA coins?

Launched on December 16, 2017, MANA coins, with an initial issuance cap of 1 billion, empower users to purchase virtual land, trade assets, and access exclusive events within the Decentraland platform.

Oct 08, 2024 at 03:54 am

1. Issuance of MANA Coins

MANA coins were issued on December 16, 2017, on the Ethereum blockchain. The initial issuance cap was set at 1,000,000,000 MANA coins.

2. Distribution of MANA Coins

50% of the MANA coins were sold in the initial coin offering (ICO). The ICO raised $26 million in Ether (ETH).

20% of the MANA coins were allocated to the Decentraland Foundation, a non-profit organization that governs the Decentraland platform.

30% of the MANA coins were reserved for future distribution, including rewards for developers, community members, and users.

3. Circulation of MANA Coins

As of March 2023, there are approximately 1,892,587,967 MANA coins in circulation. The circulating supply is the number of MANA coins that are currently in the hands of users and investors.

4. Use Cases for MANA Coins

MANA coins are used to perform various transactions within the Decentraland platform, including:

• Purchasing virtual land (LAND)
• Buying and selling assets (NFTs)
• Accessing exclusive events and experiences
• Staking to earn rewards

5. Value and Market Capitalization

The value of MANA coins fluctuates based on supply and demand. As of March 2023, the price of MANA is approximately $0.70.

The market capitalization of MANA is approximately $1.3 billion, making it one of the top 100 cryptocurrencies by market cap.