What is Mango (MNGO)?

Mango (MNGO) is a token native to the Mango Markets platform, a platform that offers trading and investment services both centralized (CeFi) and decentralized (DeFi).

Mango Markets allows users access derivatives markets, lending, leverage and liquidity on the Solana blockchain. Thanks to this, Mango Market is characterized by its high speed and low cost of operation.

Thus, Mango is an innovative project that unites the CeFi and DeFi worlds. To do this, it seeks to offer a simple and secure user experience, as well as a variety of financial products. In this way, Mango Markets is positioned as an attractive option for investors seeking diversify your portfolio and take advantage of the opportunities offered by the crypto ecosystem.

Mango development started when Daffy Durairaj posted a video of a command line margin trading mechanism in Solana. Maximilian Schneider discovered the video, connected with Daffy on Discord and the two continued development and founded Mango Markets. The platform began its operation in March 2021.

Mango Goal (MNGO)

Mango's goal is to merge the liquidity and ease of use of CeFi with the permissionless innovation of DeFi at a lower cost to the end user than both currently offer. With this objective, Mango offers margin, loan and perpetual futures trading along with decentralized governance to decide future developments.

To achieve all this, Mango uses the blockchain technology of Solana, alongside Serum DEX for spot margin trading, while perpetual futures are traded on Mango Markets' own order book. In this way, Mango Markets guarantees a decentralized operation of the platform, and at the same time, it is governed by MNGO token holders through the Mango DAO.

In addition, the project is fully open source, a transparency that is vital to the project as it increases the number of people who understand and can improve the project.

Mango DAO frequently sponsors grants for developers to extend, integrate, or attempt to break the project. To be able to access this financial support, you just have to present your idea in the project governance forum. In this way, in the long term, Mango's permissionless ecosystem fosters spectacular, outlandish and unpredictable innovations capable of unseating centralized finance.

Platform utility and capabilities

Mango Markets offers lending tools and margin trading opportunities. The markets also come in the form of perpetual contracts on the most popular trading pairs. Mango uses Serum DEX to provide liquidity to the spot and margin markets.

The platform offers limit and market orders, as well as leverage of up to 10x. For perpetual futures, Mango has its own order book. Users can open positions with up to 20x leverage, and the following order types are available for trading:

• limited order
• market order
• Stop-Loss
• Stop-Limit
• Take-profit
• Take-Profit-Limit

A unique solution

The key ingredients of this vision are the low latency, low cost of transactions and full decentralization. We believe that all three ingredients are necessary for the project to be viable and all three ingredients are finally available at Solana.

Ultimately, Mango wants to win the game in the long term in financial services. Low latency makes our tools usable. The lower commissions make it difficult to compete with Mango.

Decentralization makes it difficult to take down Mango through centralized incompetence or malevolence. Open governance, which liberally allocates power and wealth to builders, will attract the best people to build and govern the protocol.

Lastly, nature no permissions it will allow millions of small experiments to be carried out that will produce life-changing innovations.

MNGO token and its utility

MNGO is a utility token within Mango Markets, whose maximum issuance is 10 billion MNGO tokens. Among its various functions we can highlight:

• It serves for participate in the governance of the platform and vote on user suggestions.
• Receive rewards for providing liquidity to markets and loan pools.
• Pay commissions for operations made on the platform.
• Access exclusive benefits and discounts for being part of the Mango Markets community.

For example, changes to the Mango Markets code require the proposal and approval of the Mango DAO. To be considered successful, a proposal requires 200 million MNGO "Approval" votes. Voting is accessible from the DAO website.

Another use of MNGO is to participate in Liquidity Provider (LP) pools. For example, Raydium and Orca, two popular Solana DeFi platforms, offer the ability to stake MNGO-USDC LP tokens for returns.

Bibliography:

• Fetch.AI Web
• Whitepaper Fetch.AI