Mango Network, one of the most anticipated platforms in the decentralized finance ecosystem, has officially announced the launch details of its native token, MGO. The project is preparing for a massive token generation event (TGE) with a total supply of 10 billion MGO and an allocation of 1 billion tokens for community airdrops.
Mango Network Project Overview
Mango Network is an innovative decentralized platform that unites various financial instruments within a single ecosystem. The project focuses on creating efficient mechanisms for trading, lending, and asset management in a decentralized environment.
Key features of the platform include:
- Decentralized trading with low fees
- Innovative lending mechanisms
- Integration with various blockchain networks
- Advanced risk management tools
- Community-oriented approach to development
Detailed tokenomics of MGO
Total token supply
The total supply of the MGO token is 10 billion tokens . This is a fixed amount that will not increase in the future, ensuring a deflationary tokenomics model.
Token distribution
The distribution of 10 billion MGO is as follows:
- Community Airdrops: 1 Billion Tokens (10%)
- Development team: 1.5 billion tokens (15%)
- Investors and partners: 2 billion tokens (20%)
- Project Treasury: 2.5 billion tokens (25%)
- Liquidity and staking: 2 billion tokens (20%)
- Marketing and development: 1 billion tokens (10%)
Token locking mechanisms
To ensure the stability and long-term development of the project, the following blocking mechanisms are provided:
- Team tokens: 24-month lockup with gradual unlocking
- Investor tokens: 18-month lockup with monthly unlocks
- Treasury: 12-month freeze on strategic initiatives
- Marketing: 6-month lock for gradual use
MGO airdrop details
Airdrop volume
Mango Network is allocating 1 billion MGO tokens for distribution to the community through two major airdrops. This represents 10% of the total token supply, demonstrating the project’s commitment to decentralization and community.
Airdrop structure
The airdrop will be carried out in two stages:
First Airdrop (Early Participants)
- Volume: 500 million MGO
- Participants: Early platform users, testers, active community members
- Criteria: Activity on the test network, participation in bounty programs, contribution to community development
Second Airdrop (General Audience)
- Volume: 500 million MGO
- Participants: All registered users of the platform
- Criteria: Registration on the platform, fulfillment of basic requirements, activity in the ecosystem
Requirements for participation in the airdrop
To participate in the MGO airdrop, you must meet the following conditions:
- Register on the official Mango Network website
- Subscribe to the project’s official social networks
- Participation in the platform’s test network
- Completing bounty program tasks
- Community activity (Discord, Telegram)
- Providing a valid wallet address
Listing on stock exchanges
Verified exchanges
The MGO token will be available for trading on the following major cryptocurrency exchanges:
- Bitget: One of the leading global exchanges with high trading volume
- MEXC: A popular exchange known for supporting new projects
- KuCoin: An International Exchange with a Wide User Base
Listing date
MGO token trading will begin on June 24, 2024, at 09:00 UTC . This will give airdrop participants the opportunity to trade their tokens immediately after their distribution.
Utility functions of the MGO token
Protocol management
MGO token holders gain the right to participate in protocol governance through a voting system. This includes:
- Voting on protocol improvement proposals
- Participation in decision-making regarding platform development
- Impact on protocol parameters and fees
Staking and rewards
MGO tokens can be used for staking, providing the following benefits:
- Regular rewards in MGO tokens
- Reducing trading fees on the platform
- Priority access to new features
- Exclusive opportunities for stakers
Economic incentives
The MGO token plays an important role in the platform’s economy:
- Use for discounted commission payments
- Participation in liquidity programs
- Receiving bonuses for activity on the platform
- Access to premium features and services
How to prepare for the MGO airdrop
Technical training
- Set up a compatible cryptocurrency wallet
- Make sure you have enough ETH for fees
- Prepare backup wallets for diversification
- Set up automatic update notifications
Information preparation
- Subscribe to official Mango Network channels
- Join the Discord server and Telegram channel
- Stay tuned for updates on the official website
- Review the project documentation and whitepaper
Active participation
- Participate in the platform’s testnet
- Complete bounty program tasks
- Be active in the community
- Create content about the project
Risks and precautions
Legitimacy check
Before participating in the airdrop, please make sure that:
- You are using the official channels of the project
- You do not provide private keys or seed phrases
- Check the authenticity of all links and resources
- Do not transfer funds to suspicious addresses
Risk management
- Use a separate wallet to participate in airdrops
- Don’t invest more than you can afford to lose.
- Diversify your participation in various projects
- Update project information regularly
Mango Network’s development prospects
Mango Network plans to expand rapidly in the coming years, including:
- Integration with additional blockchain networks
- Development of new financial instruments
- Expanding partnerships
- Improving user experience
- Implementing Innovative DeFi Technologies
Conclusion
The launch of the MGO token and the associated airdrop represent a significant event in the world of decentralized finance. Mango Network demonstrates its commitment to decentralization by allocating 10% of the total token supply to the community.
Participating in the MGO airdrop can provide a unique opportunity to become part of a growing ecosystem and receive rewards for supporting the project. However, it’s important to remember to conduct thorough research and adhere to safety precautions when participating in any cryptocurrency project.
Always conduct your own research, use only official project channels, and never provide confidential information to third parties. Cryptocurrency airdrops remain one of the most accessible ways to obtain tokens from new projects, but they require caution and awareness.
