March 26, 2023
Solana-Based DEX Mango Markets Raises $70 Million from Token Sales

What is the Mango Markets?

Mango markets is a decentralized cross-margin exchange, where users can use up to 5x leverage with extremely lightning-fast transaction speeds with almost zero transaction fees. Furthermore, users also can deposit SRM into the shared pool to reduce transaction fees. The platform is built on the Solana Blockchain, totally inheriting the outstanding technology of this blockchain.

What makes Mango Markets different?

Low latency: With the production figure of each block on second, the transactions on Solana have not been maximized because this is still a pretty large number. With such latency, the platform can not only make the user experience worse but also reduce the likelihood of developing highly leveraged trades. However, in the future the platform can achieve a figure of 200 – 300 ms per block, then transactions of platforms on Solana in general and Mango Markets, in particular, can achieve extremely low latency.

Low Transaction Fees: Built on a platform optimized for transaction fees, Mango Markets has taken advantage of the Solana blockchain to provide a low-cost trading experience.

Completely Decentralized Protocol: This will be determining the existence of the Mango market compared to other decentralized platforms. The product needs to be definitely decentralized, then the decision of the community leads to agreements that may bring huge potential opportunities to attract users.

Leverage: Mango Markets uses a leverage market system on Serum, allowing traders to use up to 5x leverage in margin trading.

Funds will be borrowed and appear in the “borrow” section of the margin account. Interest will be calculated immediately. Deposit and withdrawal rates will also be detailed in the red and blue sections.

Mango Markets’ disadvantages

Because the platform does not charge transaction fees, there is no hedge fund, so when traders use too much leverage when the market fluctuates, it can cause “account burnout”.

The second possible risk is errors in the protocol. Mango’s team will soon find out the errors and fix them in the shortest time to perfect the product.

Token allocation

  • Mango DAO: 90% of MANGO tokens will be locked in a smart contract, only accessible via DAO governance votes.
  • Insurance Fund: 5% of MANGO tokens will be used to capitalize the Insurance Fund that will protect lenders in the Mango Protocol.
  • Contributor token: 5% will be allocated to a distributed group of early contributors, who worked tirelessly on this project over the last year. These tokens are unlocked.

Where to buy MNG token?

Users can buy $MNG directly on FTX, gate,, Bitmax exchanges.


Closed Beta

  • First weeks of March 202
  • Strict borrow limites
  • Closed source liquidators and contracts

Public Beta

  • Begins in mid-March 2021 and runs for multiple months
  • Removal of borrow limits
  • Step-wise open sourcing of the project as independent reviews are finishing
  • Improvements to margin trading user-interface
  • Launch additional trading pairs



Team & Advisors