Adapted Article Introduction for Mango

Get ready to dive into the world of Mango—a platform poised to revolutionize the trading landscape by merging the best elements of centralized (CeFi) and decentralized finance (DeFi). Imagine a trading ecosystem where speed, cost efficiency, and boundless innovation converge to create a seamless experience. Mango delivers just that, offering not only lightning-fast trade execution and minimal fees thanks to the Solana blockchain and Serum DEX but also unparalleled opportunities for governance and strategic input through its Mango Token. Whether this is your first encounter with Mango or you're looking to deepen your understanding, we'll guide you through what makes this platform a standout in the financial tech space.

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 capable 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 make 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 life-changing innovations. We're motivated and driven to build Mango according to this vision, and we hope you'll join us.

How Many MNGO Coins Are There in Circulation?

There are 1,000,000,000 MNGO Coins in Circulation.

Tokenomics and Distribution Model

The Mango crypto token (MNGO) has a total supply of 10,000,000,000 tokens, with 1,000,000,000 tokens currently in circulation. The token distribution model includes 500,000,000 tokens for the team and 500,000,000 tokens for the seed sale. The remaining 9,000,000,000 tokens are locked in a DAO, which Mango holders decide what to do with. There is no maximum supply cap for MNGO.

Governance

MNGO token holders can participate in the governance of the platform and vote on user suggestions. Changes to the Mango Markets code require the proposal and approval of the Mango DAO, with successful proposals requiring 200 million MNGO "Approval" votes.

Liquidity Provision

MNGO token holders can participate in Liquidity Provider (LP) pools, such as those offered by Raydium and Orca on the Solana DeFi platforms, to earn returns by staking MNGO-USDC LP tokens.

Paying Fees

MNGO tokens can be used to pay commissions for operations made on the platform.

Accessing Exclusive Benefits

MNGO token holders can enjoy exclusive benefits and discounts for being part of the Mango Markets community.

Market Data

• Current Price: $0.0150
• Market Cap: $14,973,124.95
• 24h Price Change: 4.96%
• 7d Price Change: 4.56%
• 30d Price Change: 15.10%
• 24h High: $0.0151
• 24h Low: $0.0142
• All-Time High: $0.5102 (2021-09-09T18:11:10.000Z)
• All-Time Low: $0.0092 (2022-11-10T03:22:00.000Z)
• Circulating Supply: 1,000,000,000.00
• Total Supply: 10,000,000,000.00

The Purpose and Utility of the Mango Crypto Token

The Mango crypto token (MNGO) is a utility token within the Mango Markets platform, which offers both centralized (CeFi) and decentralized (DeFi) trading and investment services. Mango Markets allows users to access derivatives markets, lending, leverage, and liquidity on the Solana blockchain, providing high speed and low cost of operation.

Governance

MNGO token holders can participate in the governance of the platform and vote on user suggestions. This allows users to have a say in the future development and direction of Mango Markets.

Liquidity Provision

Users can stake MNGO tokens in Liquidity Provider (LP) pools, such as those offered by Raydium and Orca, to earn returns. This helps to maintain liquidity in the markets and loan pools, benefiting all users.

Fee Payment

MNGO tokens can be used to pay fees for operations made on the platform. This includes fees for trading, lending, and borrowing, providing a convenient and cost-effective way for users to interact with the platform.

Exclusive Benefits and Discounts

MNGO token holders can access exclusive benefits and discounts within the Mango Markets community, such as reduced fees or early access to new features.

Tokenomics and Distribution Model

The Mango crypto token (MNGO) has a total supply of 10 billion tokens, with 1 billion currently in circulation. The token distribution model for Mango is as follows:

Team

The team initially held 500 million tokens, which are included in the circulating market cap. This is a significant portion of the total supply, but it is important to note that these tokens are already accounted for in the circulating market cap, unlike other projects where team tokens are unlocked over time.

Investors

The token sale was conducted on the Mango website, where users could deposit USDC into a vault for 24 hours. The price of the token was determined by the amount of USDC in the vault at the end of the sale period. It is estimated that around $123 million worth of tokens are held by VCs and the team, which is a substantial portion of the total supply.

Community