Let’s discuss the Metamango coin, its background, uses, advantages, and what you can do on Mango Markets.
What is Mango Markets or MNGO?
Mango Market is a fresh Decentralized Exchange on the Solana Blockchain that provides traders with more than 20% leverage on popular trading pairs. Mango’s transactions are quick, cheap, and authorization-free, and its overall experience is seamless because of its features that make Mango Market unique.
Mango aims to combine liquidity and useability without the permission of CeFi at a lower price to the end user than both currently provide. For this purpose, Mango offers margin trading, lending, and a permanent future with Decentralized governance to decide future evolutions.
In the long term, Mango’s permissionless ecosystem encourages brilliant, exotic, and incredible innovation that can outpace centralized finance. With near-zero fees and fast trading execution, Mango tackles the power of Solana, a high-performance blockchain and DEX.
What is Mango Token? | Metamango
The Mango is a governance token whose holders can upgrade the protocol as they see, only limited by the DAO’s checks and balances. It enables token holders to create incentives to increase participation and drive protocol usage.
Mango Markets Background | Metamango
Mango’s genesis originated when Daffy Durairaj posted a video of a command-line margin trading mechanism on Solana. Then Maximilian Schneider discovered this video, and the two continued to develop and founded Mango Markets.
Mango Markets has the unique advantage of offering an on-chain order book without suffering from high prices. It order delays that plagued previous DEXs before the introduction of the AMM model.
The on-chain DEX model is made possible by the fast and cheap transactions of the Solana Blockchain. Mango Markets has a small but well-chosen selection of spot trading pairs. It includes Solana ecosystem assets, including SOL, RAY, COPE, MNGO, BTC, ETH, LUNA, FTT, and BNB.
Mango Market Benefits
Mango Markets provide traders with different benefits that include:
Mango Market Caps ($MCAPS)
Like Uniswap’s $SOCKS Mango Markets launched with its favorite commodity_the Mango Market Cap or $MCAPS. A token that allows you to redeem one genuine limited edition cap. The holders listed $MCAP at an initial price of 15 USDC and are worth around 1800 USDC as of Aprile 2022, and only 53/461 caps are available now.
Earn Interest on all Deposit Assets
A lesser-known but very nifty feature of Mango is that it automatically earns interest on all your assets only by depositing them on the exchange. You don’t need to take any additional steps, which means, for instance, you can earn constant interest on your idle USDC stablecoins when waiting to enter a trade.
NFT Integration | Metamango
You can use your favorite Solana NFT as your Avatar on Mango Markets. And for this purpose, all you have to do is to personalize your account name with everything recorded on the Solana Blockchain.
What can you do at Mango Markets?
You can do different things at Mango Markets, such as:
Tapping into liquidity from Serum’s CLOB (central limit order book), traders can execute cross trades, buying and selling the same asset. The traders can also complete spot margin markets up to 5x and permanent future markets with above 20x leverage.
A recent integration with the Jupiter exchange aggregator enables customers to get the best costs for token swaps across all Solana apps without leaving Mango Markets.
Customers can take a fully secured loan against all accumulated assets, and interest rates for borrowers fluctuate based on poll usage.
MNGO Token & Use Cases | Metamango
Mango Market’s native token is MNGO, with a total supply of 5 million tokens & an IDO launch price of $0.23. MNGO is the first and foremost governance token, which means MNGO holders can participate in decision-making proposals that affect the protocol.
The traders can use MNGO tokens to participate in LP (Liquidity Provider) pools, including Raydium and Okra. They deposit their MNGO-USDC LP tokens to earn yield as a reward for providing liquidity.
The MNGO holders distribute MNGO to market makers as liquidity mining rewards that they calculate based on a chained algorithm.
What Makes MNGO Unique?
The key ingredients, such as low latency, low transaction cost, and high decentralization, are necessary for the project to be viable and available on Solana. Low latency makes its tools usable, and low prices make it hard to compete with the Mango. Besides, decentralization makes Mango difficult to kill via centralized incompetence. For more details visit mango.markets
Related Articles: XNC XeniosCoin Green Cryptocurrency