Mango
Crypto Overview
Overview
Mango Markets (MNGO) is a decentralized trading platform built on the Solana blockchain that enables users to trade cryptocurrencies, perpetual futures, and other digital assets. The MNGO token serves as the platform's governance token, allowing holders to participate in protocol decisions and receive a share of protocol revenues.
Intended Utility
The primary intended utilities of MNGO are: 1) Governance rights over the Mango Markets protocol, 2) Staking to receive protocol revenues, and 3) Insurance fund contributions for the protocol's lending and trading operations.
Actual Utility
The token is actively used for its intended purposes, with holders participating in governance votes and staking operations. The platform has seen significant trading volume and user adoption, though it faced a major exploit in October 2022 that resulted in a $100+ million loss.
Token Distribution and Founder Analysis
The token distribution appears fairly balanced, with significant portions allocated to the community and ecosystem development. The founding team's allocation includes vesting periods, which helps align long-term incentives. The project maintains active development on GitHub and continues to implement platform improvements.
Revenue Model Assessment
The platform generates revenue through trading fees and liquidation penalties. While the platform includes lending and borrowing features, these are structured as peer-to-peer trades rather than traditional interest-bearing loans. However, the perpetual futures trading aspect of the platform raises some concerns from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Mango from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Mango.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.