What is Mango Markets (MNGO)?
Mango intends to merge the liquidity and usability of CeFi with the permissionless innovation of DeFi at a lower cost to the end user than both currently provide. Towards this goal, Mango offers margin trading, lending, and perpetual futures along with decentralized governance to decide the future evolution. In the long run, Mango’s permissionless ecosystem encourages spectacular, outlandish and unpredictable innovations possible of overtaking centralized finance. With lightning-speed trade execution and near-zero fees, Mango harnesses the power of Solana, a high-performance blockchain, as well as Serum DEX, a decentralized, permissionless, central limit order book for margin trading. The Mango Token is a governance token, first and foremost. Collectively, the token holders have the power to upgrade the protocol as they see fit, only constrained by the checks-and-balances of the DAO. This allows token holders to create incentives to reward participation and drive usage of the protocol.
Who Are the Founders of Mango?
Mango’s genesis began when Daffy Durairaj posted a video of a command line margin trading mechanism on Solana. Maximilian Schneider discovered the video, connected with Daffy on Discord and the two continued development and founded Mango Markets.
What Makes Mango Unique?
The key ingredients for this vision are low latency, low transaction cost and full decentralization. We believe all three ingredients are necessary for the project to be viable and all three ingredients are finally available on Solana. Ultimately, Mango intends to win the long game in financial services. Low latency makes our tools usable. Rock bottom fees makes Mango hard to compete against. Decentralization makes Mango hard to kill through centralized incompetence or malevolence. Open governance that allocates power and wealth liberally to builders, will attract the best people to build and govern the protocol. Finally, the permissionless nature will allow the millions of tiny experiments to take place that yield the life changing innovations. We're motivated and driven to build Mango according to this vision, and we hope you'll join us.
Related Pages:
Twitter: https://twitter.com/mangomarkets Medium: https://medium.com/blockworks-foundation Discord: https://discord.gg/euUFRzm6Qm Litepaper: https://docs.mango.markets/litepaper
How Many MNGO Coins Are There in Circulation?
There are 1,000,000,000 MNGO Coins in Circulation