Mango

Mango is a decentralized finance application built on the Solana blockchain that offers spot trading, margin trading with up to 10x leverage, and perpetual futures markets. It aims to give retail and professional traders access to sophisticated trading tools without a centralized intermediary holding their funds. The MNGO token is the governance token of the platform, giving holders a say in how the protocol evolves through a decentralized autonomous organization.

Mango Markets V4 operates on Solana, which handles transaction settlement at a block time recorded here as effectively zero minutes, reflecting Solana's sub-second finality. MNGO does not directly power transaction processing; instead it grants voting rights within the Mango DAO, allowing holders to participate in decisions about protocol parameters and upgrades. Liquidity is drawn from multiple sources integrated into the platform, enabling the margin and perpetuals markets to function.

The data stored for Mango does not include a direct fee revenue figure, so fee-based valuation measures cannot be calculated from what is held here. What the data does show is a total value locked of 14,819.50 USD at the point in time recorded, producing a market-cap-to-TVL ratio of 2,538.48 and a fully diluted valuation-to-TVL ratio of 11,358.20, both of which are very large relative to the assets actually deployed in the protocol. The 24-hour turnover ratio stands at 0.007265, meaning trading volume over that period was a very small fraction of the circulating market capitalization.