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What Is Mango Markets? Is MNGO Token a Good Investment?

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Mango Good Investment

Recently, the Solana network has been gaining traction in the crypto world, intriguing the interest of investors as the ecosystem grows exponentially. The continuous developments of new projects on the SOL ecosystem indicate that Solana’s potential is still broad and wide.

Although the developments of the Solana ecosystem are moving at a rapid pace, it’s still yet to have a well-developed trading protocol on the network. This is where the Mango markets come in. Mango markets provide users with intuitive, sleek, UI/UX and additional CEX features to improve trades executed on the SOL chain.

What Is Mango Markets Network (MNGO Token)?

Mango markets can best be described as a decentralized cross-margin trading platform that allows users to use 5x leverage with instantaneous network speed and little to no transaction fee. Launched and built on the Solana chain, Mango Markets utilizes Solana proficient high-speed architecture to operate their markets.

Mango aims to combine the usability and liquidity of CeFi with the permissionless innovation of DeFi, thus reducing the cost required for the end-user compared to both. To realize this effectively, Mango provides users with useful features like lending, margin trading, and perpetual futures. This is inclusive of decentralized governance for an envisioned future evolution of the platform.

The future of Mango is looking promising with its permissionless ecosystem that promotes spectacular, eccentric, and unpredictable improvements capable of surpassing centralized finance.

Mango also utilizes the efficient performance of Solana and Serum DEX to deliver a near-instant trade execution with little to no zero fees. The Serum decentralized exchange uses a permissionless central limit order book for margin trading.

The Brain Behind Mango Markets Protocol

The idea behind Mango came into existence when Daffy Durairaj uploaded a video of a command-line margin trading mechanism on Solana. Maximilian Schneider came across the video and immediately contacted Daffy on Discord. The two continued working on the protocol and managed to co-found the Mango Markets.

The Blockworks Foundation is sponsoring every development executed on the Mango markets. The Blockworks Foundation is a media brand that broadcasts digital finance-related breaking news while providing insights for its viewers/readers.

Blockworks Foundation was founded in 2018 to create, curate, and distribute all possible media content about crypto, from podcasts to newsletters, where they have over two million downloads a month.

MNGO Token’s Key Features

Mango envisions a complete ecosystem with these unique features:

  1. Low latency: This feature makes the tools on Mango Markets highly usable;
  2. Low transaction cost: Unlike other cryptocurrencies, Mango provides users with rock bottom fees that competitors might find difficult to compete with;
  3. Full decentralization: Since Mango is fully decentralized, it makes the perfect alternative to issues that plague centralized finance.

These three key features are certainly necessary for the development of Mango, and all of them are now available on the Solana chain. Mango’s intended developmental targets in financial services are aimed for the long-term.

MGN token functions as open governance that allocates power and wealth liberally to builders, thus, attracting the best developers to build and govern the protocol. Lastly, various minor experiments will be able to operate and yield life-changing innovations due to the permissionless nature of the chain.

The Mango Markets Ecosystem

Perpetual Futures Trading

With the Solana and Serum platform, Mango markets can offer users full on-chain order matching and settlement for the trading of 16 distinct perpetual contracts. Many see this innovation as evolutionary because on-chain order books are economically impossible to run on the ETH ecosystem due to astronomical gas fees.

This is why developers on the Ethereum chain had been left with no choice but to utilize off-chain order books, hence neglecting censorship resistance and permissionless access to process extensive trading activity.

Cross-Margin Trading

Making use of the Mango markets guarantees users with 5x cross-margined leverage on the Serum platform, combined with a centralized exchange touch and no fees. Users get to enjoy centralized offerings without the exchange taking control of traders’ funds. Some of the other on-chain DeFi lending platforms including Aave and Compound only offer users with 2x leverage. Besides, transactions on these other DeFi platforms are also executed with high ETH gas fees.

Liquidator Program

On Mango markets, the liquidation process is responsible for securing the network. We all know that accounts borrowing funds pose a risk of not paying back. However, it is a different case when there’s collateral involved.

Accounts willing to borrow funds must provide collateral first, which value can either vary with the price of the collateral or borrowed funds. Nonetheless, all Mango market users will have to cover up for losses in a case whereby the value of borrowed funds exceeds the value of the collateral provided.

As a preventive measure, it is required that accounts must provide collaterals that exceed the value of borrowed funds. Value differences may vary by a little, however, accounts can be liquidated if the collateral value drops below a specified threshold of the borrowed funds.

Decentralized Lending

Thanks to the Mango markets lending protocol, users can earn the best interest rates on deposits while being protected from inflation, thereby putting their idle investments into use. Even though the platform is still in the development phase, the platform has already laid down its plans to allow users to maintain rights over their funds.

For instance, any user can deposit Bitcoin or Ethereum as collateral and withdraw USDT at 8.02% APY.

The MNGO Token

Apart from MNGO being a native token of the Mango Markets platform, it also functions as a governance token. This indicates that MNGO holders are allowed to participate in the decision-making process of the protocol. In extreme case scenarios, MNGO holders are capable of influencing the wholesale system changes.

Possessing MNGO tokens gives holders a great deal of authority over the platform since it’s a governance token. This certifies Mango Market’s claim of being a Decentralized Autonomous Organization (DAO).

As said earlier, Mango markets is a decentralized exchange that operates on the high-speed performance of the Solana blockchain. Mango markets were able to raise a price value of $70 million in its token sale on August 11, 2021.

Mango markets successfully became the first DAO to declare and deliver democratic on-chain governance on the Solana ecosystem. This announcement was made after its successful $70 million fair MNGO token launch.

The governance of Mango markets has been made accessible to the extent that anyone with 0.01% of MNGO staked is allowed access to the Mango DAO. This means the user can propose a governance action to make changes to the protocol.

Also, an enormous amount of MNGO tokens will remain locked in the DAO treasury, which is only accessible via DAO governance votes. The successive launch of this structure indicates the mark of an important milestone in Mango’s envisioned open governance framework, through which incentives are distributed to developers via a fully decentralized on-chain mechanism.

Is The MNGO Token a Good Investment?

According to the Digital Coin Price forecast, MNGO coin could turn out to be a profitable investment. Wallet Investor echoes the same sentiment as they also see the MNGO token as an awesome investment choice. Going by the current price as of November 30, 2021, a $100 investment will likely get you 330.270 MNGO crypto coins. Going by their forecast, your $100 investment could be worth $509.25 in five years giving you an expected income of +409.25%.

Based on current data, Wallet Investor indicates that the MNGO token and possibly its market environment is in a bullish cycle and the token is expected to have a positive trend in the future.

According to Digital Coin Price analysis, the price of the Mango Markets token could reach $0.462 in one year, which is almost 2 times its current price of $0.305. The Cointobuy MNGO coin forecast is also predicting the token to reach a price of $0.5348, which is expected to generate an estimated profit of +78.9%.

Wallet Investor’s Mango Markets token price prediction 2022 indicates that the token will reach a maximum price of $0.643 by the end of December. By 2023, the MNGO token price prediction from Wallet Investor indicates that the token will reach as high as $0.885 at the end of the year.

According to Digital Coin Price, its MNGO token price prediction 2022 shows that the token will reach a price of $0.529. While in 2023, the Mango Markets coin price forecast for that year is $0.661. It seems they are expecting marginal growth, unlike Wallet Investor’s prediction.

Going by priceprediction.net analysis, the price prediction for the MNGO crypto token for 2022 is a maximum price of $0.51 at the end of 2022. By 2023, the Mango Markets coin price prediction 2023 shows that the token will reach as high as $0.73. The 2022 and 2023 prediction here is a bit similar to what Wallet Investor is predicting.

According to the Tech News Leader forecast, the MNGO token price prediction for 2022 shows that the token will reach a maximum price of $0.53. By 2023, the token price could reach as high as $0.81.

Let’s now look at the MNGO coin price prediction for 2026. Wallet Investor is predicting a maximum price of $1.609 by November 2026. Priceprediction.net MNGO token forecast indicates that the token will reach a price of $2.09 by 2026. Digital Coin Price is predicting a price of $1.03 for the Mango Markets token in 2026. Both Wallet Investor and Digital Coin Price have similar forecasts for the MNGO coin of around $1. Only priceprediction.net predicts that the token will reach $2 in 2026.

By 2030, Priceprediction.net expects the Mango Markets coin to be as high as $9.71. According to the Tech News Leader, the MNGO crypto coin could reach a maximum price of $12.24 with an average of $10.88  if the market condition is favorable. That will be a substantial gain in 2030 if that price is reached.

Conclusion

The ever-expanding Solana ecosystem is experiencing some great innovations at the moment and among them is the Mango Markets platform. The exciting offerings that the MNGO coin can offer users are sure to get investors interested in the token and see what it will yield in the future through the MNGO token price predictions. Most of the predictions we have seen seem to indicate that the token is headed in the right direction.

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