With the association of Binance and Decentraland, BNB will be the first additional token accepted in the next LAND auction. What’s even more interesting is the fact that users will be able to participate in the auction directly through Binance’s Trust Wallet dApp browser.
Binance is among the world’s top cryptocurrency exchange platforms. It makes it possible for users to trade one token for another with top notch discretion and at extremely high speeds. This makes it one of the most-used exchange platforms.
The Trust Wallet
For users to able to directly connect to the auction via the Trust Wallet mobile dApp, the simply need follow these simple steps;
- Install Trust Wallet on your iOS or Android devices,
- Navigate to market.decenraland.org through the dApp browser,
- Click ‘Auction’ after the auction has started then,
- Start browsing for LAND.
Any MANA users have in their Trust Wallet accounts can be used to buy unowned land through the auction and any land bought will be stored in the users Trust Wallet Account.
Spending BNB on LAND
Holders of BNB will easily spend the token in buying LAND during the auction by simply logging in to the Decentraland Marketplace on the internet or through the Trust Wallet dApp browser and clicking on the home page.
At the very bottom of your LAND cart, there’s a Token menu where you’ll be able to choose BNB from the various tokens exchangeable for unowned LAND. When you purchase LAND through the auction, 5% of your BNB will immediately be burned, therefore removing it from circulation. The remainder will automatically be exchanged for MANA, which will also be burned afterwards.
It is important to note that neither of the two platforms, -Binance or Decentraland, require any fees for accepting BNB for LAND through the auction.
To help reward the most active members of the Binance and Decentraland communities, Binance is hosting two separate competitions for the Decentraland ecosystem. The competition starts today going through till the 11th of this month.
The MANA trading competition will draw rewards from a prize pool of 1,875,000 MANA and a single Binance-branded LAND parcel. Participants will be ranked and rewarded according to the total net volume of MANA they trade using their Binance accounts across the MANA/BTC and MANA/ETH trading pairs.
There’s also a lucky draw where 10 lucky users who trade at least 30,000 MANA through the MANA/BTC or MANA/ETH trading pairs, will be awarded 7,500 MANA each.
You can get more information on decentraland’s official blog.