The goal of Mango Markets is to create a trader and market maker friendly decentralized trading platform. Initial core features include fully on-chain margin trading on limit order books as well as perpetual futures, which are the main drivers of centralized exchange revenue. As they believe building on Ethereum would hinder the team from implementing the best possible user experience, they decided to go with Solana instead, following other influential players in the field with this choice of layer 1 platform. While Mango Markets is a product still in active development, it currently offers up to 5x, cross-margined leverage on Serum pools with a seamless, centralized-exchange feel.
In the still young Solana DeFi ecosystem, Mango appears as one of the pioneers among the other first projects having already launched on mainnet. The project is showing great promises and the codebase is solid enough to consider Mango. As the project is still in the early stages, we didn’t find a proper audit done, as doing one is a bit more complicated for Solana dApps than Ethereum’s one. However, as the code is open source, anyone can take a look and review it. If the Solana DeFi ecosystem keeps growing and starts attracting more users, Mango might be one of the protocols to look at. The token hasn’t been launched yet.