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What is the Mango Market in Crypto?

Mango Market

The mango market would be one hell of a saleable sector. Imagine a market filled with luscious yellow fruits. Its fleshy sweetness makes it a perfect dessert. 

However, we are not talking about tropical fruit. The mango market in today’s blog post refers to a platform that deals in cryptocurrency. 

Today, we will learn about what the mango market is all about. 

What is the Mango Market?

Mango Market (MNGO) is a crypto token platform that lends and trades cryptocurrencies. It operates on Solana’s high-speed blockchain. 

This is a decentralized cryptocurrency exchange that the Mango DAO manages. Through the Mango Market, users can swap, borrow, lend and utilize leverages to trade crypto assets. 

Blockworks Foundation is a media company that publishes news and insights about finance. They are responsible for the development and launching of Mango Markets in 2021. 

Coinmarketcap and Coingecko recognize Maximilian Schneider and Daffy Durairaj as the creators because they posted a margin trading mechanism in Solana. However, a Venezuelan citizen named Alejandro Betancourt claims that he founded Mango Markets way back in 2017. 

This issue remains unresolved until today and leaves no clarity about Mango DAO’s foundation. 

How Does the Mango Market Work? 

The Mango Market accommodates spot trading and futures trading. It uses the Serum DEX for its spot trading while investors can trade perpetual futures in Mango’s official order book. 

MNGO is its official token. Thus, holders of the MNGO token supervise the Mango Markets through the Mango DAO. 

Cross-Trading on the Mango DAO

Aside from its decentralized and open-source features, what makes Mango Markets stand out is its cross-trading capabilities. 

Cross-trading means that an investor can take all their earnings from their first order and use it to make another set of orders without closing the first one that they placed. Cross-trading is helpful in offsetting the risk of the first transaction. 

Nevertheless, major exchanges prohibit cross-trading because the blockchain does not record individual transactions. It is recorded as a cross-trade only. Many crypto experts believe that this carries security risks for crypto platforms. 

Advantages of the Mango Market

Since it was developed on the Solana blockchain, investors can earn up to five times leverage. Additionally, it has fast transaction speed. Solana’s blockchain network is popular for its low latency. 

This structure reduces slippage in trading. Also, it prevents losses due to its fast operating speed. With these two combined, investors and traders can achieve better liquidity. 

Goals of the Mango Market

The developers of Mango Market envision it to be an investor-friendly platform that benefits both market takers and market makers. Market takers are the people to buy crypto assets at the going rate. On the other hand, market makers are those who wait for lower prices before purchasing cryptocurrency


On Jan. 20, 2023 , the Securities and Exchange Commission (SEC) charged Avraham Eisenberg with commodities fraud and manipulation. He manipulated the price of the MGNGO on the crypto platform. According to reports, Eisenberg used two accounts and simultaneously purchased and sold futures on the relative prices of MNGO and the USD Coin (USDC).

As a result, Eisenberg’s maneuver artificially inflate the price to  enabled him to withdraw an estimated $116 million worth of crypto assets.

Eisenberg is a 27 year-old U.S. citizen who is now jailed in a Puerto Rican federal prison. He will be transported to the Southern District of New York where he will face parallel civil and criminal charges as the Department of Justice and the Commodities Futures Trading Commission (CFTC) has mandated.


Mango Market is still relatively new in the crypto space. Despite the huge crashes that cryptocurrencies experienced in 2021, they were still able to establish themselves and built a huge user base in a short span of time. 

As of now, the Mango DAO has no serious competitors. As long as they keep their network secure and their prices stable, they can be one of the successful crypto projects that can last long-term. 

Hi! I am Tracie, an Education major with an interest in Finance and Investing. Come and explore the crypto world with me! :)

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