How to swap CAKE to MANA?
With the advent of blockchain technology, gaming worlds have the opportunity to reach a new level. Game currencies and other components of virtual reality have acquired real value. Today there are several fairly successful game projects and one of them is Decentraland.
What is Decentraland
It is a virtual world and community based on the Ethereum blockchain. Users create virtual real estate, artwork, and other virtual objects that are non-fungible tokens.
The platform was launched in 2016 and during its existence has evolved from a 2D space into a full-fledged virtual 3D world. Decentraland virtual real estate parcels, items and other customizable assets are available for purchase.
The payment instrument in Decentraland is MANA, the project’s own token. It is an ERC-20 standard token. Unique assets of the virtual world, such as land (LAND) and clothing, books and other items, are classified as ERC-721.
Unlike most online games in Decentraland, users can control the rules of the virtual world. This is implemented in the form of a Decentralized Autonomous Organization, where token holders can put forward their proposals for in-game and general organizational policies and vote for them.
What is MANA
MANA is the internal in-game currency that serves as a means of settlement in the world of Decentraland and gives the right to vote to the owners of the asset. To participate in the DAO, users convert MANA to wrapped MANA and block them in the DAO. Each locked token is equivalent to one vote. In addition, a treasury exists in the DAO to finance decisions and other operations.
To purchase a virtual land plot (non-fungible LEND token), the user will have to burn MANA tokens in the equivalent of the cost of the selected land.
MANA can be bought on the cryptocurrency exchange or earned by selling collectibles on the Decentraland platform. This project does not belong to the best crypto nodes.
MANA is listed on the Kraken, Gemini, Upbit, Binance, Gate.io, OKEx, FTX and many others
It can be bought with fiat money and some cryptocurrencies.
In the fall of 2021, the price of MANA has skyrocketed. Its growth was influenced in particular by the rebranding of Facebook into Meta and the agreement signed by Barbados to open an embassy in one of the virtual worlds of Decentraland.
Now the coin is trading at a price slightly above $ 3 and it is quite possible that next year it will rise to $ 10. However, analysts agree that the biggest obstacle for the token will be psychologically significant levels.
How to change CAKE to MANA
Since MANA was not well known until recently, it is difficult to find a traditional CAKE to Decentraland token direct exchange platform. The easiest and most affordable way to quickly swap CAKE to MANA is to go to LetsExchange. It is an instant cryptocurrency exchange service that supports over 300 coins and tokens, including rare ones. It’s very simple, you don’t even have to create an account. In the exchange widget, you specify:
- In the upper field, CAKE for sale and the amount of coins;
- In the bottom MANA field for purchase;
- Indicate the address of your wallet;
- Deposit coins.
- Press the “Exchange” button.
The Smart Rate program will automatically find the current offers in the network for the exchange direction you have chosen. You don’t have to spend long hours manually searching. The program will compare the terms of transactions and choose the most profitable one for you. After confirming it, the transaction is completed and the coins are immediately credited to your wallet.