What Is Mango Market (MNGO)?

Mango offers a platform for lending, trading, and portfolio management. Mango allows collateralized loans against the existing assets. The collateral is shared between lending/borrow and leverage trading. Leverage trading is a process that allows investors to make purchases with the help of borrowed capital. The Mango utilizes serum DEX and is built on the Solana blockchain. The serum DEX is a decentralized platform that allows traders to trade crypto using an automated order book system.

The whitepaper states that Mango intends to merge the usability and liquidity of CeFi with the innovation of DeFi at a reduced cost to the end-user. To pursue this goal, Mango offers margin trading and decentralized governance to decide future evolution. Margin trading is a way of utilizing the funds given by a third party to conduct asset transactions. The key requisites for fulfilling the vision of Mango are low transaction costs and complete decentralization.

The token's name is MNGO, and MNGO holders govern the platform via Mango DAO. The DAO distributes more tokens via governance proposals after the initial distribution. The MNGO token can be utilized to participate in Liquidity Provider pools. 

History of Mango Market (MNGO)

In the first week of March 2021, Mango Margin “closed alpha” program was launched. Mango Margin “public beta” began in the middle of March 2021. The borrow limits were replaced with the introduction of a partial liquidation. Later in the middle of August 2021, Mango Perp “closed the alpha program started running for a few weeks. Later, Mango perp “public beta” was launched. Public beta is fully cross-margined. The maximum number of tokens supply is 10,000,000,000.