What Is Mango Markets (MNGO)?
MNGO is the native token of Mango Markets, which is a decentralized trading platform. It provides users with spot margin and perpetual futures trading opportunities, as well as lending. Mango Markets are powered by the Solana blockchain and the Serum decentralized exchange. Therefore, it provides fast and permissionless trades with especially low fees. If you're wondering about the MNGO price, make sure to check out the Mango Market price chart (you can find one above).
In terms of trading, users are provided with cross-collateralized spot and futures markets. Since they are permissionless, traders don’t need to go through KYC verification. Thus, they can privately trade cross-collateralized spot margined markets and leveraged perpetual futures with up to 10x leverage.
Talking about lending, lenders are able to earn interest from their deposits while borrowers can take out fully collateralized loans against existing assets. Besides, there’s a risk engine that allows lenders to withdraw their assets whenever they want. Additionally, liquidators protect the lending process by securing assets from defaults and market fluctuations.
The Founders of Mango Markets
The Mango crypto project was founded by Daffy Durairaj and Maximilian Schneider.
Daffy Durairaj is an algorithmic trading developer. He has a degree in mathematics and economics. Durairaj came up with the idea of command line margin trading on Solana. Maximilian Schneider found out about this idea and decided to take it further. Thus, Durairaj and Schneider teamed up and founded Mango Markets.
Use Cases of MNGO Tokens
MNGO is the governance token of the Mango Markets. It provides holders with the ability to participate in the voting processes considering the future development of the Mango crypto project. Mango tokens can be earned by providing liquidity to Mango Markets or they can be bought on various exchanges.
If you plan to buy Mango coins, note that the MNGO price is liable to change. Why? Mostly due to the fact that, similarly to the pricing of other digital assets, the volatility of the crypto market has a significant effect on the Mango price.
