Mango (MNGO)

Trading and Lending

Mango is used for decentralized trading and lending on its platform. Users can trade cryptocurrencies with low fees and borrow or lend assets without middlemen.

Governance

Holders of Mango tokens can participate in decision-making about the platform’s future by voting on proposals.

Collateral

Mango tokens can be used as collateral to borrow other cryptocurrencies within the Mango ecosystem.

Rewards and Incentives

Users earn Mango tokens as rewards for providing liquidity, trading, or participating in the platform’s activities.

Pros

• Low Fees and Fast Transactions: Mango uses the Solana blockchain, which offers very low transaction costs and fast trade execution, similar to centralized exchanges but without losing control of your assets.
• Leverage Trading: Supports up to 10x leverage on spot and perpetual markets, allowing traders to amplify their positions.
• Decentralized and Open Source: Mango is fully open source and governed by a DAO, giving token holders control over upgrades and decisions.
• Multi-Collateral and Cross-Margin Trading: Allows users to use multiple assets as collateral and trade with cross-margin, increasing flexibility.
• Easy Token Listing: Anyone can propose new tokens for listing, which can be automatically added if approved.
• Composability: Developers can build bots, tools, and integrations on top of Mango’s platform.
• Rebates for Makers: Traders who add liquidity receive rebates, encouraging active market participation.

Cons

• Limited Token Availability: Compared to larger exchanges, Mango supports fewer tokens and trading pairs.
• Complexity for Beginners: Features like margin trading and leverage can be complicated for new users.
• Market Volume: Trading volume is relatively low compared to major centralized exchanges, which might affect liquidity.
• Dependence on Solana: Performance and uptime depend on the Solana blockchain, which has experienced outages in the past.
• Governance Challenges: As a DAO, decision-making can be slower and subject to community voting dynamics.

For more details, visit Mango Markets.

Founders of Mango

Mango was founded by Maximilian Schneider, Britt Cyr, and John Kramer. They launched Mango Markets, a decentralized exchange on the Solana blockchain, in August 2021.

Investors in Mango

• Mango DAO and Blockworks Foundation: These entities raised over $70 million from investors worldwide through the sale of Mango’s governance tokens (MNGO).
• Hundreds of Global Investors: The token sale involved hundreds of investors, including those in the U.S., who participated in the unregistered offers and sales of MNGO tokens.
• Community and Developers: Mango is governed by Mango DAO, a decentralized autonomous organization that also provides grants to developers to improve the platform.

The project’s funding largely comes from token sales managed by Mango DAO and Blockworks Foundation, attracting a broad base of investors interested in decentralized finance on Solana.

Halal Status of Mango

• No: There is no clear, widely accepted ruling that Mango is halal.
• Reason: Mango is a decentralized finance (DeFi) platform offering margin trading, lending, and leveraged trading, which often involve elements like interest (riba) and speculation (gharar) that Islamic finance typically avoids.
• Context: Islamic scholars generally require cryptocurrencies to avoid interest, excessive uncertainty, and unethical activities to be considered halal. Mango’s features and trading mechanisms do not clearly meet these criteria.
• Advice: Muslims interested in halal crypto investments usually consult Islamic finance experts and prefer projects explicitly vetted for Sharia compliance.

For more details, you can visit Mango’s official site: https://mango.markets/