Mango offers a vibrant ecosystem for decentralized finance enthusiasts. This all-in-one platform blends lending, borrowing, swapping, and leverage trading of crypto assets, all fueled by a robust risk engine. Picture a financial tropical paradise where you can nurture your assets by earning interest on deposits, with the flexibility of cross-margin and cross-collateralized trading.
The platform was co-founded by Daffy Durairaj and Maximilian Schneider. Durairaj, with a background in building algorithmic trading and market maker solutions, was initially inspired to create an on-chain derivatives exchange after encountering dYdX in 2019. However, he hesitated due to the limitations he perceived with Ethereum's speed and cost at the time.
This changed when Durairaj came across the Serum Dex on the Solana blockchain. Recognizing the potential of Solana's low latency and transaction cost, he saw an opportunity to create an efficient on-chain derivatives exchange. Durairaj initially named the project 'Leverum', indicative of its focus on leverage trading. After publishing a video showcasing the concept, he caught the attention of Maximilian Schneider, a software engineer, and serial entrepreneur drawn into crypto during the DeFi summer of 2020. Schneider, intrigued by the concept, reached out to Durairaj, and through their collaboration and shared passion for building leverage trading products, Mango Markets was born.
At the heart of Mango is its spirit of decentralization and non-custodial principles, ensuring users retain full control over their assets. The platform boogies to the beat of the Openbook DEX for spot margin trading, while perpetual futures pirouette on Mango's own orderbook.
The Mango Token (MNGO) serves primarily as a governance token, granting collective power to token holders to upgrade the protocol through the checks and balances of the DAO. This open governance model attracts builders and promotes permissionless innovation, aiming to outpace centralized finance in the long run.
Mango isn't just a platform; it's a transparent, open-source beacon in the DeFi universe. This openness invites a plethora of skilled developers to enhance, innovate, and fortify the ecosystem. Whether integrating with user-friendly APIs or diving deep into blockchain communication tools, Mango caters to all levels of tech-savvy.
Mango leverages the high-speed and low-cost features of the Solana blockchain to provide a seamless trading experience. This integration is central to Mango's ability to offer real-time trade execution and reduced transaction fees, making it competitive with traditional financial exchanges.
Mango offers a variety of DeFi activities, including spot margin trading, borrow/lend, and perpetual futures. These features are designed to cater to diverse trading strategies, providing users with a comprehensive DeFi platform.
Governance on Mango is conducted through a decentralized autonomous organization (DAO), where MNGO token holders have the power to propose and vote on changes to the platform. This structure ensures that the platform evolves in alignment with the community's interests and needs.
Mango stands out for its combination of CeFi-like usability with DeFi's permissionless innovation, all at a lower cost. The platform's emphasis on low latency, minimal transaction costs, and full decentralization, alongside its open governance model, positions it as a progressive and user-centric DeFi platform.
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