Everything You Need to Know About the Decentraland Token Launch
Tokens, pricing, key dates, supply, and how to contribute.
We’ve written a ton about Decentraland on our official blog, so we wanted to recap the most important highlights as we get closer to our token launch. Here’s what you need to know for the token launch on August 17th.
1. Dates and contract address
The token launch begins on block 4170700, which is roughly August 17, 5:00 PM PST / 8:00 PM EST in the US, August 18, 1:00 AM in the UK, and August 18, 8:00 AM in China.
The address of our token launch smart contract is 0xa66d83716c7cfe425b44d0f7ef92de263468fb3d
The launch will end as soon as one of the following conditions is met: the total amount contributed exceeds the $25 million USD cap, or the launch reaches day number 9 (block 4202097).
2. Pricing
The Decentraland token launch is an increasing price launch. This means that MANA tokens will be offered at a price that goes from 0.080 ETH per LAND equivalent to 0.133 ETH. A hard cap is set at $25 million USD.
It’s important to note that the starting price on the first day represents a 40 percent discount relative to the final day price. This discount decreases on a block-by-block basis, at an average rate of 5 percent per day.
Please read the Decentraland Token Launch Terms for more details.
3. Token Supply
The token supply will have a 40/20/20/20 distribution. So, 40 percent of the token supply will be allocated to the launch contributors; 20 percent is reserved to incentivize content creators and developers to build inside of Decentraland; 20 percent will go to the development team, early contributors and advisors; and the remaining 20 percent will be held by Decentraland. The Project Leads will have three-year vesting.
The total supply of MANA after the token launch will depend on the total amount raised (the maximum is $25M) and the price at which contributors acquire the token: since it’s an increasing price launch, people will possibly buy MANA at different price points. Once the mainnet goes live, a smart contract will continue selling MANA on a daily basis, which takes us to the next item.
4. Continuous Token Model
Included is an 8 percent increase of the token supply for the first year, and a lower rate in subsequent years. This is implemented through a Continuous Token Model. The proceeds of the tokens sold by the smart contract will finance Decentraland over the long haul, perpetually aligning it with the prosperity of the network.
4. Using MANA to Buy LAND
Decentraland will use the Ethereum network to establish land ownership in on the virtual platform. The world will be divided into 100m² (about 1078 ft²) parcels, with a non-fungible digital asset for each plot of land. These assets recognize the designated owner of the parcel, and describe what its contents are. We call this digital asset LAND.
Our ERC20 token is named MANA: 1,000 MANA tokens can be burned to claim one parcel of LAND.. Please read Building a LAND Economy With the MANA Token for more details.
5. Stay safe
Remember to remain alert and follow our security instructions to make sure you’re not scammed.
6. How to Participate in the Launch
We’ve written also written a thorough guide about the process. You can participate without the extension if you’re an advanced user, but we recommend you use the extension if you’re feeling anything but super confident about the process, as it’s the safest way of contributing.
Thank you
Once again, we appreciate the community’s overwhelming support as we continue building Decentraland.
We hope to see you when the token launch starts on August 17th 8pm EST.
