Mango

What is Mango?

Mango Markets offers a unified platform on the Solana blockchain for lending, borrowing, swapping, and leverage-trading crypto assets. The platform employs a robust risk engine and operates in a decentralized, non-custodial manner. Users can earn interest on deposits and benefit from features such as cross-margin and cross-collateralization. Spot margin trading is facilitated through the Openbook DEX, while perpetual futures are traded on Mango Markets' own order book. Governance is handled by MNGO token holders through the Mango DAO.

Being fully open source, Mango Markets emphasizes transparency to encourage a broader understanding and improvement of the project. The DAO actively supports developers by sponsoring grants for project extension, integration, or testing. Traders can connect their systems to Mango Markets through various methods, with REST & WebSocket API being the user-friendly choice for those familiar with centralized exchanges, while more advanced users can directly communicate with the blockchain using open source wrappers for TypeScript, Python, or .NET.

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Recent Video Interview

Main points of the interview:

• Daffy der Raj entered crypto through algorithmic trading frustrations with equities.
• Inspired by DYDX, he co-founded Mango Markets for efficient, decentralized trading on Solana.
• Their novel token launch method attracted significant attention and funds on Solana.
• Mango Markets aims to democratize financial tools and leverage on-chain capabilities.

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MNGO Token

The MNGO token serves as a governance token, providing its owners with the authority to vote on proposals that shape the future of the Mango Markets protocol. The maintenance of Mango Markets' code and the introduction of future releases depend on the approval of proposals aimed at updating smart contracts managed by the DAO. A total of 3.9 billion non-circulating MNGO tokens are securely locked in a smart contract, accessible solely through votes in the DAO governance. It is advised to conduct thorough research before participating in voting activities. The Mango Markets Discord includes a #governance channel dedicated to discussing proposals and addressing any queries that may arise.

Token Locking

MNGO tokens can be locked for a maximum period of 5 years, earning an increased voting weight in the DAO, up to 2x. The voting weight is calculated linearly based on the duration of the lockup, and locked tokens cannot be withdrawn until the lockup period expires.

For those with tokens deposited in the old governance system, a withdrawal and redeposit are necessary for voting. To do this, users should visit the MangoDAO website, connect their wallet, and deposit MNGO. The "Your Tokens" panel will display the deposited and locked MNGO amounts.

Three lockup types are available: Cliff, Constant, and Vested.

• Cliff: Tokens are locked for a fixed duration, fully released at the end of it.
• Constant: Tokens are locked indefinitely, with a constant vote weight until the unlock process begins.
• Vested: Tokens are locked for a fixed duration, released gradually at a specified rate during vesting periods.

Liquidation

Liquidation in Mango Markets begins when an account's maintenance health drops below 0 and ends when it rises above 0. The process is open to anyone, offering a liquidation fee reward. Liquidation involves canceling open orders, compensating liquidators to settle liabilities, and, if necessary, resorting to Mango's insurance fund for coverage. The Oracle price guides these actions, adjusting for liquidation fees, making it beneficial for those conducting the liquidation.

Mango's Founder

Mango Markets originated when Daffy Durairaj shared a video showcasing a command line margin trading mechanism on Solana. Maximilian Schneider came across the video, reached out to Daffy on Discord, and the duo collaborated to further develop and establish Mango Markets.

Mango Price Analysis

As of November 25 2024 Mango has a marketcap of $35M. This is {{percentagefromath}} from its all time high of $0.498845. In terms of its tokenomics, there's a total supply of 5B with 23% currently outstanding. Keep in mind Mango has a fully diluted value of $152M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.