MANA Description
Overview
Decentraland (MANA) is the native ERC-20 token of Decentraland, a virtual-world platform built on Ethereum.
The platform lets users own, develop, and trade virtual land parcels called LAND, along with other in-world assets and naming rights (NAMES), all represented as NFTs. Decentraland's token smart contract was deployed on Ethereum mainnet on August 15, 2017.
Value Proposition
Decentraland differentiates itself through DAO-based governance, where MANA and LAND holders vote directly on protocol changes rather than relying on a centralized operator.
As of September 1, 2026, the token had 281,423 on-chain holders on Ethereum.
Token Basics
MANA functions as both a utility token used within the Decentraland platform and a governance token used to vote in the Decentraland DAO.
- To vote, holders wrap MANA into wMANA and lock it into the DAO; locked wMANA becomes non-transferable while committed.
- 1 wMANA held in the DAO equals one vote.
- LAND NFTs also confer voting power without locking, at 2,000 votes per LAND.
Tokenomics
As of September 1, 2026, Decentraland's circulating supply is approximately 1.96-1.99 billion MANA against a total supply of about 2.19 billion MANA.
- Market cap: approximately $142 million.
- Fully diluted valuation: approximately $159.2 million.
- Net emission is modestly inflationary, governed by ongoing DAO-controlled issuance rather than a fixed schedule.
Launch & Funding
Decentraland launched via a public ICO on August 18, 2017, selling MANA for ETH at $0.0240 per token.
The sale reached its hard cap in about one hour, raising 86,206 ETH (reported at approximately $24-26 million). The token's Ethereum mainnet contract was deployed on August 15, 2017, three days before the ICO closed, while the underlying project was founded between 2015 and 2017.
Blockchain & Consensus
Decentraland (MANA) is deployed on Ethereum (ERC-20), which secures the network through proof-of-stake consensus.
A bridged version of MANA, "(PoS) Decentraland MANA," also circulates on Polygon, a proof-of-stake sidechain, but Ethereum remains the canonical, native chain for the token.
Team
Decentraland was founded by Esteban Ordano and Ariel Meilich between 2015 and 2017, and both remain in advisory roles.
Ordano currently serves as Executive Director of the Decentraland Foundation, a position he assumed in May 2026, succeeding Yemel Jardi, who held the role from April 2023 to May 2026.
Issuing Organization
Decentraland was originally created by Metaverse Holdings Ltd., a for-profit Cayman Islands entity, and is now stewarded by the nonprofit Decentraland Foundation.
The Foundation focuses on platform development and reportedly holds 20% of MANA supply in reserve. A separate entity, DCL Regenesis Labs, serves as the Decentraland DAO's execution arm, turning DAO-approved strategies into real-world outcomes.
Governance
Decentraland is governed by the Decentraland DAO, an off-chain voting body that controls decisions over MANA, LAND, and NAMES, backed by a DAO-controlled multi-signature wallet.
Voting weight for any proposal is fixed at the MANA, LAND, or NAMES balance held when that proposal was created, giving token and LAND holders direct influence over platform decisions.
Roadmap
Decentraland's DAO execution arm, DCL Regenesis Labs, published a 2026 platform roadmap on February 18, 2026, targeting a standalone mobile client for iOS and Android.
- Milestone releases in Q1 and Q2 2026 add chat, friends, events, and performance features.
- A mobile app for iOS and Android launched April 2, 2026, removing the need for a desktop client download and manual wallet setup.
- DAO votes in 2026 included workstream-leadership decisions (March 3) and a Wearables/Emotes submission-fee increase from $5 to $25 (voting ended July 28).
Security
Decentraland's smart contracts carry a CertiK Security Score of 85.81 (Grade A), based on two audits, the most recent completed August 8, 2024.
- The 2024 audit found 0 critical, 2 major, 1 medium, and 2 minor issues; formal verification passed all 9 properties tested.
- A 2018 audit by OpenZeppelin found no high or critical vulnerabilities.
- No third-party bug bounty program is on record, and CertiK does not list the team as verified.
- The top 10 holders control 46% of supply, and DEX liquidity is thin relative to market cap.
Frequently Asked Questions
What is Decentraland (MANA)?
Decentraland (MANA) is the native ERC-20 token of Decentraland, a virtual-world platform on Ethereum where users own, develop, and trade parcels of virtual land called LAND. The token was deployed on Ethereum mainnet on August 15, 2017, and doubles as the platform's governance token.
Is MANA a governance token or a utility token?
MANA serves both roles: it is used within the Decentraland platform and can be wrapped into wMANA to vote in the Decentraland DAO. Locked wMANA equals one vote each, while LAND NFTs grant 2,000 votes per parcel without requiring any lock-up.
How is Decentraland governed?
Decentraland is governed by the Decentraland DAO through off-chain voting backed by a DAO-controlled multi-signature wallet. Voting weight on any proposal is fixed at the MANA, LAND, or NAMES balance held at the time the proposal was created. DAO-approved treasury and grants are executed by DCL Regenesis Labs.
What is the maximum supply of MANA?
MANA has no fixed maximum supply cap; ongoing issuance is governed by the Decentraland DAO. As of September 1, 2026, circulating supply is approximately 1.96-1.99 billion MANA against a total supply of about 2.19 billion MANA, with net emission modestly inflationary through continued DAO-controlled issuance.
When did Decentraland launch and how much funding did it raise?
Decentraland held a public ICO on August 18, 2017, selling MANA for ETH at $0.0240 per token. The sale reached its hard cap in about one hour, raising 86,206 ETH, reported at approximately $24-26 million. The token's Ethereum contract had been deployed three days earlier, on August 15, 2017.
Who founded Decentraland?
Decentraland was founded by Esteban Ordano and Ariel Meilich between 2015 and 2017; both remain in advisory roles. Ordano became Executive Director of the Decentraland Foundation in May 2026, succeeding Yemel Jardi, who held the post from April 2023 to May 2026.
Has Decentraland been audited?
Yes. Decentraland holds a CertiK Security Score of 85.81 (Grade A) across two audits, the most recent completed August 8, 2024, finding no critical issues. OpenZeppelin also audited the token contract in 2018 and found no high or critical vulnerabilities. No third-party bug bounty program is currently on record.
What blockchain does MANA run on?
MANA is a native ERC-20 token on Ethereum, which secures the network through proof-of-stake consensus, with the token contract deployed on Ethereum mainnet on August 15, 2017. A bridged version, "(PoS) Decentraland MANA," also circulates on the Polygon sidechain, but Ethereum remains the canonical, native chain for the token.
