MANA Token Launch Recap
Analyzing distribution, transferring MANA and checking your balance.
After so much anticipation and hard work, last Thursday we concluded our MANA token launch. People from all over the globe contributed 86,260 ETH, or approximately $25 million USD. Over 2,000 unique buyers came together to make this happen. We are incredibly thankful to all participants and humbled by the support of the community as we build Decentraland.
Thanks to our community and distribution partners, we managed to distribute MANA tokens all across the globe. Analyzing the results from these platforms, the average ticket per contributor was in line with that of other successful token sales.
Due to the overwhelming response to the project, almost 7,000 transactions did not go through, which resulted in a lot of disappointment. We anticipated this issue, and looked into alternatives to deal with this. One possible solution was removing the cap, which was not in our contributors’ best interest. All future fundraising for Decentraland will be conducted through our Continuous Token Model, tied to the performance of the project and building a viable product that delivers value to the user. At the same time, we want to congratulate the 0xproject for their approach to this problem.
Taking a closer look at our token holders, 7 out of the top 10 MANA holders correspond to pools or crowdsale partners, which sold to the public:
- Decentraland’s team+reserve+community pool: 60% of supply.
- 0x4f96: ico.info: 18,000 ETH, 1,083 participants.
- 0x9608: BitcoinSuisse: 10,000 ETH, 87 participants.
- 0xA65E: Gatecoin, 6,900 ETH, 66 participants.
- 0x4Dc: Cintix’s contract crowd buy, 6,668 ETH, 358 participants.
- 0x033c: TokenCapital, 2,500 ETH, 160 participants.
- 0x36f5: 3ICO, 4,000 ETH, 357 participants.
The Gini index is a measurement used to represent wealth distribution, and ours was consistent with other successful token launches. Most tend to be in the 80–90 range, including the Ethereum sale. Our Gini index was 88.45.
Next steps
MANA Activation Event
MANA will become transferrable on September 15. This will enable trading on exchanges, which we will announce as they come online.
Community Whitelist
To ensure that the core of our community gets to purchase MANA tokens, individuals who signed up for the whitelist will be able to purchase up to $1,000 USD worth of MANA. The original pricing will be respected, at $0.024 per MANA, using the ETH/USD rate at the time of the event. This will take place shortly after the MANA activation event. These tokens will come from the Decentraland long-term endowment. We’re currently building a web UI to let people verify if they had signed up.
Terraform Event
A few months from now we will hold a terraform event, the first opportunity for MANA holders to claim land in Decentraland. Through a web interface, all token holders will be able to buy land parcels. We are preparing a land allocation policy to ensure fair distribution, as well as a method for groups to purchase larger contiguous plots of land. Stay tuned for more details.
Seeing your MANA balance
We’ve partnered up with imToken so that MANA holders can easily carry their balance. If you use another ETH wallet, such as MyEtherWallet, you will have to click on “Add new token” and load the following info to make your balance visible:
- Address: 0x0F5D2fB29fb7d3CFeE444a200298f468908cC942
- Name: MANA
- Decimals: 18
We thank all participants and members of our community for their overwhelming support, patience and faith in this endeavour. We’re extremely humbled by the trust everyone placed in our project, and are very excited for the future of Decentraland.
We’ll see you in the metaverse,
The Decentraland Team
