What Is Mango Markets?
Mango Markets is a decentralized financial platform built on the Solana blockchain. It offers a single venue for lending, borrowing, swapping, and leverage-trading crypto assets.
Background
Daffy Durairaj founded Mango Markets in 2021.
How It Works
Users can earn interest on their deposits and engage in cross-margin and cross-collateralized transactions. As a decentralized and non-custodial platform, users maintain control of their assets. Furthermore, Mango Markets’ on-chain program can be connected to various trading systems, providing a user-friendly experience for traders accustomed to centralized exchanges.
Mango Markets utilizes Openbook DEX for spot margin trading while it operates its order book for perpetual futures. MNGO token holders conduct governance via Mango DAO. Mango Markets is entirely open-source, a feature seen as vital for the project’s transparency and improvement. The DAO frequently sponsors grants for developers to extend, integrate with, or test the project.
Key Takeaways
- Mango Markets is a decentralized financial platform that incorporates crypto asset lending, borrowing, swapping, and leverage-trading.
- It was founded by Daffy Durairaj in 2021 and operates on the Solana blockchain.
- The platform uses Openbook DEX for spot margin trading and its order book for perpetual futures. MNGO token holders conduct governance.
- Mango Markets is entirely open-source, essential for its transparency and continual improvement. The DAO often provides grants to developers to enhance or test the project.
- As a decentralized and non-custodial platform, users retain control of their assets. Users can earn interest on their deposits and partake in cross-margin and cross-collateralized transactions.
