Try Quests to earn SOLThe Return of the Mango
Mango Markets is a decentralized cryptocurrency trading platform built on the Solana blockchain. It has recently launched its fourth version, Mango Markets V4, which boasts a number of significant upgrades and improvements.
One of the key features of Mango Markets V4 is its integration with Serum, a decentralized exchange protocol also built on Solana. This integration allows Mango Markets to offer its users access to a much larger pool of liquidity and trading pairs, as well as faster transaction times and lower fees.
However, Mango Markets has not been without its challenges. In October of 2021, an exploit in the platform's smart contract resulted in the loss of approximately $70 million worth of cryptocurrency. The exploit was quickly identified and Mango Markets worked to resolve the issue and compensate affected users.
Despite this setback, Mango Markets has continued to innovate and improve its platform, and the launch of V4 is a testament to the team's commitment to building a robust and secure decentralized trading platform.
This dashboard is created to show Mango Markets v4 growth since its launch in December 2022 and analyze its user activity and Flows from other platforms, also its comparison with other peer markets like Zeta and Drift.
For this matter I used Flipsidecrypto data and Solana.core schema to do my analysis. I filtered Mango v4 from fact_events table with its program_id which is : 4MangoMjqJ2firMokCjjGgoK8d4MXcrgL7XJaL3w6fVg
and Considered only successful transactions.
Mango Other versions contracts:
JD3bq9hGdy38PuWQ4h2YJpELmHVGPPfFSuFkpzAd9zfu~ Mango v15fNfvyp5czQVX77yoACa3JJVEhdRaWjPuazuWgjhTqEH~ Mango v2mv3ekLzLbnVPNxjSKvqBpU3ZeZXPQdEC3bp5MDEBG68~ Mango v3E8rzJBbUCbice9Q4BcX3LzzixtkJD11GTnDcqPS7WqaA,4FuHh13dadkVJQeDFdtQg8vMKRPxVZJLU7dEXy61Y5Bn~ Mango Markets Perpetual Order Book
I considered whales as users which deposited more than 10K USD in the platform.
- In the first tab called Mango Events i analyzed Mango v4 daily transactions and what are users doing in the platform with extracting the events from
instructioncolumn based infact_eventstable. then i analyzed its native token, $MNGO price and trading activity since Mango's exploit and t the end i explored the flows into Mango v4 after its launch. - In the second tab called Mango users, i analyzed its user retention and growth since December 2022 to see how new/old users reacted to Mango v4 launch. Are them old users who came back or all just new users? Find the answer in that tab! Also i went deeper in Mango v4 Users to see are they mostly retails or whales.
- In the third tab called Mango VS Drift & Zeta i take a look at the 2 other peer markets activity and compared Mango to them to see which one of them is leading others in terms of activity on Solana.
What is Mango Markets?
Mango Markets is a decentralized exchange (DEX) built on the Solana blockchain. It allows users to trade cryptocurrencies, stablecoins, and synthetic assets with low fees and fast transaction times.
The Mango Markets platform uses an Automated Market Maker (AMM) model, similar to other popular DEXs like Uniswap and PancakeSwap. This means that instead of using order books, trades are executed against a liquidity pool that is automatically managed by a smart contract.
The Mango Markets protocol has its own native utility token, called $MNGO. The $MNGO token has multiple use cases within the Mango Markets ecosystem, including:
Governance: $MNGO token holders have the ability to vote on proposals related to the development and governance of the Mango Markets platform.
Fees: $MNGO tokens are used to pay transaction fees on the Mango Markets platform. Holders of $MNGO tokens can receive discounts on these fees.
Liquidity provision: $MNGO token holders can provide liquidity to the platform's liquidity pools and earn trading fees and incentives in return.
Overall, $MNGO serves as a key component of the Mango Markets platform, helping to incentivize users to participate in the ecosystem and play an active role in its development.