Decentraland's MANA token added as newest collateral type for DeFi lending protocol Maker

An executive vote among MKR token holders in the MakerDAO ecosystem has resulted in the addition of MANA, the native currency of the virtual world Decentraland, as a new collateral type.

This means that MANA can be used as collateral for the generation of the stablecoin DAI, as outlined in a July 28 blog post. Discussions around the addition of MANA date back to May. MANA, one of two tokens tied to the Decentaland project, is the virtual world's primary medium of exchange and is used to pay for things within Decentraland.

As noted on MakerDAO's voting portal, the proposal passed at 7:30 UTC on July 28. In recent months, the MKR token holders have added the stablecoin USDC and wBTC, an Ethereum-based token that is 1-to-1 backed by bitcoin, as collateral types. 

MakerDAO made headlines earlier this week when the non-custodial lending protocol became the first DeFi protocol to reach $1 billion in total locked value. That growth was fueled by an overall swell of interest in DeFi applications. Per DeFi Pulse, which tracks popular protocols, that figure has risen to $1.13 billion, posting a one-day increase of nearly 10%.