Mango Markets is a decentralized futures exchange based on the Solana blockchain.
Its user-friendly interface allows users to lend, borrow, trade, and leverage crypto assets.
Mango Markets allows assets deposited on the platform to be cross-collateralized, meaning assets can be used as collateral for lending/lending and leveraged trading. These assets automatically earn interest and serve as available collateral for leverage trading or loan redemption.
Mango aims to combine the liquidity and ease of use of CeFi with the permission-free innovation of DeFi, at a lower cost to the end user than either currently offers.
Mango achieves this by offering users a limit order book-style trading system on its interface on the chain.
In addition, because Mango is built on the Solana blockchain, it can use the Serum DEX shared order book for spot margin trading, while perpetual futures are traded through Mango’s own order book.
Mango Markets also has its own governance token called MNGO, which allows its holders to vote for decisions within the Mango DAO.
On October 11, 2022, a hack of the platform was undertaken, during which more than 100 million dollars were stolen.
We rank Mango Markets in our “Red Compliance” list due to the massive hack.