Mango Markets
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Mango Markets is a decentralized crypto exchange (DEX) on Solana that offers margin trading, lending, and perpetual futures. The platform aims to merge the liquidity and usability of centralized finance (CeFi) with the innovation of decentralized finance (DeFi) at a lower cost to users. Mango leverages Solana's high-performance blockchain and Serum DEX for lightning-speed trade execution and near-zero fees. The Mango Token serves as a governance token, allowing holders to upgrade the protocol through DAO decisions.
Regulatory Challenges
Mango Markets has faced regulatory inquiries in the United States following a heist in October 2022. The DEX's governing body, MangoDAO, is considering appointing a representative to handle U.S. regulatory matters. Legal experts have highlighted the vulnerability of Mango Markets to regulatory scrutiny due to its position in the crypto market. The platform's community of token holders plays a crucial role in governance decisions and addressing regulatory concerns.
Growth and Market Position
Despite regulatory challenges, Mango Markets has experienced growth, with a total value locked (TVL) surpassing $25 million and over 11,000 unique addresses onboarded. The platform ranks as one of the top lending protocols on Solana by TVL. Mango's community actively participates in governance decisions using MNGO tokens. The protocol continues to evolve with proposals for new features and enhancements