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36
SUMMARY.md
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@ -2,12 +2,6 @@
* [Overview](README.md)
## Margin Trading
* [Overview 👀](margin-trading/overview.md)
* [Risks ⚠️](margin-trading/risks.md)
* [PNL Calculation 🧮](margin-trading/pnl-calculation.md)
## Tutorials
* [Initial set up with 🥭](tutorials/getting-started.md)
@ -17,17 +11,7 @@
* [How to Receive devnet Tokens](tutorials/how-to-receive-dev-net-tokens.md)
* [How to Vote in Governance](tutorials/how-to-vote-in-governance.md)
* [Trade Order Types](tutorials/trade-order-types.md)
## Development Resources
* [Mango Client API](development-resources/mango-client-api.md)
* [Mango Program API](development-resources/mango-program-api.md)
* [Liquidator](development-resources/liquidator.md)
***
* [FAQ](faq.md)
* [Litepaper](litepaper.md)
* [FAQ](tutorials/faq.md)
## Mango V3
@ -38,4 +22,20 @@
* [Perp Contract Specs](mango-v3/perp-contract-specs.md)
* [Market Making Bot (python)](mango-v3/market-making-bot-python.md)
* [Mango Client API (javascript)](mango-v3/mango-client-api-javascript.md)
* [Dev FAQ](mango-v3/dev-faq.md)
## Development Resources
* [Mango Client API](development-resources/mango-client-api.md)
* [Liquidator](development-resources/liquidator.md)
* [Dev FAQ](development-resources/dev-faq.md)
## Mango V2
* [Overview 👀](mango-v2/overview.md)
* [Risks ⚠️](mango-v2/risks.md)
* [PNL Calculation 🧮](mango-v2/pnl-calculation.md)
* [Mango Program API](mango-v2/mango-program-api.md)
***
* [Litepaper](litepaper.md)

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mango-v3/dev-faq.md → development-resources/dev-faq.md
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@ -1,6 +1,6 @@
# Dev FAQ
**All Mango code is open source **![🔓](https://discord.com/assets/8b7eb8b25468313916d2e5ec3727cd2d.svg)** **

**All Mango code is open source** ![🔓](https://discord.com/assets/8b7eb8b25468313916d2e5ec3727cd2d.svg) ****

v3 smart contract: [https://github.com/blockworks-foundation/mango-v3](https://github.com/blockworks-foundation/mango-v3) 
@ -22,10 +22,10 @@ Market Maker (Python): [https://github.com/blockworks-foundation/mango-explorer/
Market Maker (TypeScript): [https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/mm.ts](https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/mm.ts) 
Mainnet/Devnet Market IDs: [https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/ids.json](https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/ids.json) **
**
Mainnet/Devnet Market IDs: [https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/ids.json](https://github.com/blockworks-foundation/mango-client-v3/blob/main/src/ids.json) ****

**Is there an API for borrowing rates and/or funding? **
Not yet, but hopefully soon 
**Is there an API for borrowing rates and/or funding?**
Not yet, but hopefully soon 
**Is Mango Code audited? **Mango code has been informally reviewed by Serum and Solana devs as well as the German white hat hacker team “Alles!’.

 
**Is Mango Code audited?** Mango code has been informally reviewed by Serum and Solana devs as well as the German white hat hacker team “Alles!’.

 
**How can I start working with Mango? 
** This Trello board** **([https://trello.com/b/tIj7K3FD/mango-development](https://trello.com/b/tIj7K3FD/mango-development)

) contains desired tasks from entry level to complete projects. Pick one you feel is a good fit and introduce yourself in dev-discussion channel. If things go well, congratulations you’re part of the Mango DAO! 
Also, Mango Labs is hiring: [https://jobs.solana.com/companies/mango-labs](https://jobs.solana.com/companies/mango-labs)
**How can I start working with Mango?** This Trello board **** ([https://trello.com/b/tIj7K3FD/mango-development](https://trello.com/b/tIj7K3FD/mango-development)

) contains desired tasks from entry level to complete projects. Pick one you feel is a good fit and introduce yourself in dev-discussion channel. If things go well, congratulations you’re part of the Mango DAO! 
Also, Mango Labs is hiring: [https://jobs.solana.com/companies/mango-labs](https://jobs.solana.com/companies/mango-labs)

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litepaper.md
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@ -26,7 +26,7 @@ Low transaction costs are arguably the raison d'etre of finance. We believe a fi
Trying to achieve competitive latency and cost by centralizing key components (e.g. the orderbook) will fail in the long run. Centralizing any component is a security risk and severely harms composability. Ultimately, the centralizer decides how other apps may interact with the centralized component and the centralizer neither has the incentive nor the bandwidth to allow all interested parties to participate in the improvements. As a result, centralizing key components gives up the immense upsides of permissionless innovation. Mango Markets will retain the upside.
#### **No Presales, Decentralized Governance **
#### **No Presales, Decentralized Governance** 
The Mango Token will govern the protocol. The vast majority of MANGO will be locked in the DAO treasury to be distributed according to token holder wishes. That being said, our vision is that governance ought to reward the people who provide protocol services (e.g. liquidity providers, oracles) and the people who build new protocol services (e.g. developers, or other contributors). The commitment to distribute the largest portion of the DAO’s power and wealth to future contributors will encourage the most skilled and ambitious builders to join us. Finally, in accordance with the crypto ethos of transparency and equal access there will be no presale of tokens.
@ -96,9 +96,9 @@ There will be a sale of Mango Token that goes directly into the DAO treasury for
**DAO - 90%**
These tokens can only be unlocked via token holder governance. We propose that tokens are distributed roughly on a logarithmic supply model similar to Bitcoin but with a halving every two years i.e. 50% of the tokens distributed in the first two years, 75% in the first four years, 87.5% in the first 6 years and so on. The DAO is not bound to follow this proposal.
These tokens can only be unlocked via token holder governance. We propose that tokens are distributed roughly on a logarithmic supply model similar to Bitcoin but with a halving every two years i.e. 50% of the tokens distributed in the first two years, 75% in the first four years, 87.5% in the first 6 years and so on. The DAO is not bound to follow this proposal. 
### Token Sale
### Token Sale 
#### Mechanism
@ -111,13 +111,13 @@ The Mango Sale will happen over two days. The Sale contract will have two vaults
#### Explanation
Buyers get a pro-rata price at the end and every participant gets the same price for Mango Tokens.
Buyers get a pro-rata price at the end and every participant gets the same price for Mango Tokens. 
The sale price per token can be calculated with:
`(total USDC in vault) / (500,000,000 Mango Token)`
This price will fluctuate during the entire 48 hour period as USDC is deposited and withdrawn. However, during the last 24 hours, buyers may only withdraw USDC and so the Sale price can only decrease during that period. The Withdraw Only Period was added so that if a buyer deposits a large amount of USDC at the last second of the Unrestricted Period and raises the price significantly, other buyers still have an opportunity to get out of the sale.
This price will fluctuate during the entire 48 hour period as USDC is deposited and withdrawn. However, during the last 24 hours, buyers may only withdraw USDC and so the Sale price can only decrease during that period. The Withdraw Only Period was added so that if a buyer deposits a large amount of USDC at the last second of the Unrestricted Period and raises the price significantly, other buyers still have an opportunity to get out of the sale.  
We take the view that token sales should be simple, fully transparent and minimize randomness and luck in the distribution. Simple mechanisms are easier to build, explain, understand and are harder to exploit. A transparent mechanism increases participation because buyers are more confident there are no hidden tricks that could harm them. Elements of luck engineered into the mechanism distribute value randomly or to those who are most willing to do the arbitrary, worthless tasks to get the free value. We believe all "excess" value should be captured by token holders in the DAO. Removing the casino aspects of token sales selectively encourages participants who are focused on contributing and governing in the long term.
@ -131,7 +131,7 @@ Mango developers, including those from the community, will build the smart contr
The Mango Token is a governance token, first and foremost. Collectively, the token holders have the power to upgrade the protocol as they see fit, only constrained by the checks-and-balances of the DAO. This allows token holders to create incentives to reward participation and drive usage of the protocol.
We consider the COMP governance model to be a gold-standard in the industry and followed it to build out the Mango Token governance model. We mainly reworked the initial token distribution, to facilitate a DAO inception that is truly open and adapted it’s mechanics to fit the solana programming model.
We consider the COMP governance model to be a gold-standard in the industry and followed it to build out the Mango Token governance model. We mainly reworked the initial token distribution, to facilitate a DAO inception that is truly open and adapted it’s mechanics to fit the solana programming model. 
Anybody with 0.1% of Mango Token staked can propose a governance action; these are simple or complex sets of actions, such as adding support for a new asset, changing an asset’s collateral factor, changing a market’s interest rate model, or changing any other parameter or variable of the protocol that the current administrator can modify.

3
development-resources/mango-program-api.md → mango-v2/mango-program-api.md
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@ -1,6 +1,6 @@
# Mango Program API
This is a complete reference of all instructions processed by the Mango on-chain program. You might want to use the [Mango Client API ](mango-client-api.md)as a reference on how to call these instructions. You can find the typescript code creating the instructions on [github](https://github.com/blockworks-foundation/mango-client-ts/blob/main/src/client.ts).
This is a complete reference of all instructions processed by the Mango on-chain program. You might want to use the [Mango Client API ](../development-resources/mango-client-api.md)as a reference on how to call these instructions. You can find the typescript code creating the instructions on [github](https://github.com/blockworks-foundation/mango-client-ts/blob/main/src/client.ts).
```rust
#[repr(C)]
@ -346,4 +346,3 @@ pub enum MangoInstruction {
}
```

6
margin-trading/overview.md → mango-v2/overview.md
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@ -1,10 +1,10 @@
# Overview 👀
**Mango offers an approachable and powerful platform for trading, lending and portfolio management. **
**Mango offers an approachable and powerful platform for trading, lending and portfolio management.** 
Mango not only offers spot margined and leveraged perpetual futures markets but also allows collateralized loans against existing assets all under one unified experience.
Mango not only offers spot margined and leveraged perpetual futures markets but also allows collateralized loans against existing assets all under one unified experience. 
Trade spot margined markets with up to 5x leverage and perpetual futures markets with up to 10x leverage. Long and short everything, with limit or market orders, more advanced order types coming soon.
Trade spot margined markets with up to 5x leverage and perpetual futures markets with up to 10x leverage. Long and short everything, with limit or market orders, more advanced order types coming soon. 
Current on-chain lending protocols (e.g. Aave, Compound) provide up to 2x leverage for margin traders, but this comes with severe downsides. For one, Ethereum gas prices are prohibitive for the majority of traders. Secondly, the margin trading can only be done with market orders or swaps — not limit orders. This makes them completely useless for market makers.

0
margin-trading/pnl-calculation.md → mango-v2/pnl-calculation.md
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0
margin-trading/risks.md → mango-v2/risks.md
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2
mango-v3/perp-faq.md
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@ -6,7 +6,7 @@ Perpetuals allow initial leverage of up to 10x, and maintenance leverage of 20x.
### What fees will I pay?
Mango currently chargers ‘takers’ on the platform a 5bps fee. There is no fee for providing a limit order into the book that is later executed as a ‘maker’.** **Mango does not take a fee for borrowing or lending.
Mango currently chargers ‘takers’ on the platform a 5bps fee. There is no fee for providing a limit order into the book that is later executed as a ‘maker’. **** Mango does not take a fee for borrowing or lending.
### What is funding, and how does it work?

8
tutorials/borrowing-and-lending.md
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@ -8,11 +8,11 @@ description: Powerful borrowing and lending capabilities, powered by Mango.
🥭offers an approachable and powerful platform. Under the hood, the mango risk engine permits users to take out fully collateralized loans against any deposited assets, and deposits into margin accounts accrue interest every second.
**Check out the **[**Account page. **](https://trade.mango.markets/account)****
**Check out the** [**Account page.** ](https://trade.mango.markets/account)****
![](../.gitbook/assets/bororor.png)
## **Borrowing on **🥭
## **Borrowing on** 🥭
First, ensure assets are [deposited into your margin account](https://docs.mango.markets/tutorials/getting-started#creating-a-margin-account-and-depositing-funds) for use as collateral. Then, simply click 'Withdraw' under the accounts tab or "Borrow" under the _Borrow_ tab. 
@ -54,13 +54,13 @@ Individual asset price, deposits, and borrows can be changed in their correspond
![](../.gitbook/assets/screen-shot-2021-07-21-at-7.16.13-pm.png)
## **Video Tutorial **
## **Video Tutorial** 
This comprehensive video tutorial created by CryptoData covers everything from creating and funding your sollet wallet to trading and lending on Mango Markets exchange.
{% embed url="https://www.youtube.com/watch?v=Ad7IVKaJYGQ" %}
## **Join the community **👾
## **Join the community** 👾
The Mango team is committed to providing a fully decentralized, open source, leveraged trading platform capable of matching a centralized-exchange feel with all the unique benefits of DeFi. We are excited to launch Mango Markets and continue bringing new leveraged trading products to life in decentralized form. Visit us at [mango.markets](https://mango.markets) to trade and lend.

4
faq.md → tutorials/faq.md
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@ -10,7 +10,7 @@ description: >-
To earn interest, simply deposit into your margin account; all assets automatically earn interest. Annual rates are displayed in the margin account panel in green. 
### **What are the different versions of Mango? **
### **What are the different versions of Mango?** 
V2( mango.markets ) is the newest version of Mango and supports SOL, SRM, BTC, ETH, and USDC trading, lending, and borrowing.
@ -48,7 +48,7 @@ equity = val(deposits) +val(open orders) - val(borrows)
The interest rate is a function of the utilization ratio: total borrowed by all users divided by total deposits of all users. The interest rate will increase slowly approaching a utilization ratio of 70% but will increase rapidly above that to encourage the market to deposit more funds.
![](.gitbook/assets/work.png)
![](../.gitbook/assets/work.png)
### Does it cost anything to open a Mango account? 

18
tutorials/getting-started.md
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@ -20,15 +20,15 @@ Next, decide whether auto-approval is on or off and approve the connection
_**\*\***Selecting on will give a smoother trading experience (more like a CEX.) keeping it off you will need to approve every transaction within the platform._
## **Creating a **🥭 margin** account & depositing funds**
## **Creating a** 🥭 margin **account & depositing funds**
It's time to create and fund your first 🥭Margin Account. Simply click on the deposit button within the account modal to initiate the margin account creation modal.
![](<../.gitbook/assets/fund (1).png>)
In the account creation modal, first, decide to name your account or not. Next, choose the asset you want to fund your margin account with and enter the amount you want to deposit.
In the account creation modal, first, decide to name your account or not. Next, choose the asset you want to fund your margin account with and enter the amount you want to deposit.&#x20;
You’ll need **0.035 SOL** in your wallet to open a mango margin account.
You’ll need **0.035 SOL** in your wallet to open a mango margin account.&#x20;
![](../.gitbook/assets/fund2.png)
@ -36,17 +36,17 @@ You’ll need **0.035 SOL** in your wallet to open a mango margin account.
Within mango, all your assets are considered "collateral", which means you can use any one asset to buy any of the other assets. So something like positions on Mango will naturally work a little differently between spot and perpetual markets and might feel a little different than normal exchanges that don't offer full asset cross-collateralization already within their platform.
On mango collateral health is connected to your _Health Ratio, _which is based on your collateral ratio. This essentially allows you to utilize any asset to trade or borrow against any other asset all being handled by Mango and its risk engine.
On mango collateral health is connected to your _Health Ratio,_ which is based on your collateral ratio. This essentially allows you to utilize any asset to trade or borrow against any other asset all being handled by Mango and its risk engine.
![](../.gitbook/assets/health1.png)
For example, if you have $100 of USDC within your account you can exchange that for up to 5x of another asset, depending on the market's collateral ratio (MNGO, SOL, SRM, USDT, BTC, and ETH) while still holding your original USDC position. You can also withdraw funds as needed and pay back your liabilities to keep your health ratio in the green.
#### Watch your Health Ratio ❤️
#### Watch your Health Ratio ❤️&#x20;
Once a position is opened, it must maintain a Health Ratio above 0%. If an account falls to 0% it will be liquidated and funds lost. To increase Health Ratio, reduce borrows or deposit funds into your margin account to top up the health bar. \
\
The current Health Ratio is displayed in two places, on the trade page and under your accounts page.
The current Health Ratio is displayed in two places, on the trade page and under your accounts page.&#x20;
![](../.gitbook/assets/healthbab.png)
@ -65,11 +65,11 @@ Mango offers a really robust, simple, and intuitive interface for managing your
More features being added.
**Manage your portfolio and all positions right on the **[**account page. **](https://trade.mango.markets/account)****
**Manage your portfolio and all positions right on the** [**account page.** ](https://trade.mango.markets/account)****
![](../.gitbook/assets/account.png)
## **Join the community **👾
## **Join the community** 👾
The Mango team is committed to providing a fully decentralized, open source, leveraged trading platform capable of matching a centralized-exchange feel with all the unique benefits of DeFi. We are excited to launch Mango Markets and continue bringing new leveraged trading products to life in decentralized form. Visit us at [mango.markets](https://mango.markets) to trade and lend.
@ -79,7 +79,7 @@ twitter:[ https://twitter.com/mangomarkets](https://twitter.com/mangomarkets)
discord: [https://discord.gg/YpzUSTwd](https://discord.gg/P7TzZS9g)
##
## &#x20;
\
\

26
tutorials/how-to-vote-in-governance.md
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@ -1,16 +1,16 @@
# How to Vote in Governance
MNGO is a governance token whose ownership grants voting rights on proposals to dictate Mango protocol's future.
MNGO is a governance token whose ownership grants voting rights on proposals to dictate Mango protocol's future.&#x20;
Mango's code maintenance and future releases are reliant on successful proposals to update the smart contracts owned and controlled by the DAO. Additionally, 90% of MNGO tokens will be locked in a smart contract, only accessible via DAO governance votes.
Mango's code maintenance and future releases are reliant on successful proposals to update the smart contracts owned and controlled by the DAO. Additionally, 90% of MNGO tokens will be locked in a smart contract, only accessible via DAO governance votes.&#x20;
Always do your research when voting. There is a #governance channel in Mango's Discord to discuss proposals and ask any questions you may have.
Always do your research when voting. There is a #governance channel in Mango's Discord to discuss proposals and ask any questions you may have.&#x20;
### How to vote:
### &#x20;How to vote:&#x20;
Go to the Realm page: [https://dao.mango.markets/#/realm/DPiH3H3c7t47BMxqTxLsuPQpEC6Kne8GA9VXbxpnZxFE?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J](https://dao.mango.markets/#/realm/DPiH3H3c7t47BMxqTxLsuPQpEC6Kne8GA9VXbxpnZxFE?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J)
Go to the Realm page: [https://dao.mango.markets/#/realm/DPiH3H3c7t47BMxqTxLsuPQpEC6Kne8GA9VXbxpnZxFE?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J](https://dao.mango.markets/#/realm/DPiH3H3c7t47BMxqTxLsuPQpEC6Kne8GA9VXbxpnZxFE?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J)&#x20;
Connect your wallet.
&#x20;Connect your wallet.&#x20;
Click the 'Deposit Governance Tokens' button.
@ -18,26 +18,26 @@ A dialog will appear saying 'Deposit your tokens?' Click Deposit.
This will bring up a wallet approval step, for the entirety of your MNGO tokens in your account. This is a scary step.
The UI shows a message: 'Tokens have been deposited'. A new button 'Withdraw Governance Tokens' appears.
The UI shows a message: 'Tokens have been deposited'. A new button 'Withdraw Governance Tokens' appears.&#x20;
The **Guiwem4qBivtkSFrxZAEfuthBz6YuWyCwS4G3fjBYu5Z** governance item shows the number of deposited tokens.
![](../.gitbook/assets/screen-shot-2021-08-08-at-3.00.21-pm.png)
Under Governances, select **Guiwem4qBivtkSFrxZAEfuthBz6YuWyCwS4G3fjBYu5Z **or visit [https://dao.mango.markets/#/governance/9RGoboEjmaAjSCXsKi6p6zJucnwF3Eg5NUN9jPS6ziL3?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J](https://dao.mango.markets/#/governance/9RGoboEjmaAjSCXsKi6p6zJucnwF3Eg5NUN9jPS6ziL3?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J)
Under Governances, select **Guiwem4qBivtkSFrxZAEfuthBz6YuWyCwS4G3fjBYu5Z** or visit [https://dao.mango.markets/#/governance/9RGoboEjmaAjSCXsKi6p6zJucnwF3Eg5NUN9jPS6ziL3?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J](https://dao.mango.markets/#/governance/9RGoboEjmaAjSCXsKi6p6zJucnwF3Eg5NUN9jPS6ziL3?programId=GqTPL6qRf5aUuqscLh8Rg2HTxPUXfhhAXDptTLhp1t2J)
In the Proposals page, parameters will be shown at the top of the screen.
In the Proposals page, parameters will be shown at the top of the screen.&#x20;
_Max voting time: 3 days; Yes vote threshold: 2%; Min instruction hold up time: 0 days; Min tokens to create proposal: 1,000,000 (0.01%)_
![](../.gitbook/assets/screen-shot-2021-08-08-at-3.03.53-pm.png)
Select the proposal you wish to vote on or view. A voting page appears containing relative stats.
Select the proposal you wish to vote on or view. A voting page appears containing relative stats.&#x20;
![](../.gitbook/assets/screen-shot-2021-08-08-at-10.39.47-pm.png)
If the proposal is in voting session, there are 'Yeah' and 'Nay' buttons in the top-right.
If the proposal is in voting session, there are 'Yeah' and 'Nay' buttons in the top-right.&#x20;
To vote, click '**Yeah**' or '**Nay**'. The page asks to confirm your vote. Click 'Confirm' (or 'Cancel' if you don't want to proceed).The UI shows a notification saying 'Proposal voted on'.
To vote, click '**Yeah**' or '**Nay**'. The page asks to confirm your vote. Click 'Confirm' (or 'Cancel' if you don't want to proceed).The UI shows a notification saying 'Proposal voted on'.&#x20;
You're done. Your tokens are in the governance system for now. You can withdraw them, but if you withdraw them before the vote is complete it will also withdraw your vote. After the vote completes you can withdraw your tokens without affecting your vote.
You're done. Your tokens are in the governance system for now. You can withdraw them, but if you withdraw them before the vote is complete it will also withdraw your vote. After the vote completes you can withdraw your tokens without affecting your vote.&#x20;

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tutorials/trading-on-mango.md
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@ -4,17 +4,17 @@ description: Permissionless trading, powered by Mango.
# Trading 📈
## **Welcome to **🥭 Market**s**
## **Welcome to** 🥭 Market**s**
Use the Mango interface to interact with the protocol to margin trade on the Serum DEX markets as well as trade leveraged perpetual futures, all within one unified interface.
Use the Mango interface to interact with the protocol to margin trade on the Serum DEX markets as well as trade leveraged perpetual futures, all within one unified interface.&#x20;
Trade spot margined markets with up to 5x leverage and perpetual futures markets with up to 10x leverage. Long and short everything, with limit or market orders, more advanced order types coming soon.
Trade spot margined markets with up to 5x leverage and perpetual futures markets with up to 10x leverage. Long and short everything, with limit or market orders, more advanced order types coming soon.&#x20;
**Check out the **[**trade page. **](https://trade.mango.markets)****
**Check out the** [**trade page.** ](https://trade.mango.markets)****
![](../.gitbook/assets/tradeee.png)
_Mango users save substantially on Serum DEX trading fees_; [Serum](https://projectserum.com) powers mangos spot margined markets. SRM deposits are pooled together to give every Mango user the ability to save substantially on taker fees. There is more info below under [Fee Discounts](getting-started.md#how-to-view-fee-discounts-contribute-srm).
_Mango users save substantially on Serum DEX trading fees_; [Serum](https://projectserum.com) powers mangos spot margined markets. SRM deposits are pooled together to give every Mango user the ability to save substantially on taker fees. There is more info below under [Fee Discounts](getting-started.md#how-to-view-fee-discounts-contribute-srm).&#x20;
## **Navigating the Markets**
@ -22,29 +22,29 @@ To get to the markets, click "Trade" in the main navigation, You should see all
![](<../.gitbook/assets/markets (1).png>)
Mango also gives you the ability to customize your experience, decide what markets you want to see or not see.
Mango also gives you the ability to customize your experience, decide what markets you want to see or not see. &#x20;
![](../.gitbook/assets/markets2.png)
## More Customization
## More Customization&#x20;
Mango offers you the ability to customize you trading experience. Create multiple accounts, choose theme styling, adjust window size & placement, switch order-book type, and utilize the trading view to its full extent.
![](../.gitbook/assets/customize.png)
## Placing a Trade on 🥭
## Placing a Trade on 🥭&#x20;
To place an order, first decide whether you want to Buy or Sell an asset.
To place an order, first decide whether you want to Buy or Sell an asset.&#x20;
Note when doing limit orders, the options of POST and IOC.
Note when doing limit orders, the options of POST and IOC.&#x20;
* When IOC (Immediate or Cancel) is selected - if an order is placed and not filled within seconds, it's canceled.
* When POST is selected, limit orders are added to the order book and earn maker fees if filled.
* When IOC (Immediate or Cancel) is selected - if an order is placed and not filled within seconds, it's canceled.&#x20;
* When POST is selected, limit orders are added to the order book and earn maker fees if filled.&#x20;
* POST orders will always be the 'maker'.
![](../.gitbook/assets/trademodal.png)
Limit orders open an order at a set price. If the price action of an asset in the order-book reaches that price, the order will get filled.
Limit orders open an order at a set price. If the price action of an asset in the order-book reaches that price, the order will get filled. &#x20;
![](../.gitbook/assets/market.png)
@ -52,7 +52,7 @@ Market orders hit the book immediately on the bid or ask side depending on if yo
![](../.gitbook/assets/limit.png)
Spot margined positions can be viewed under your accounts tab within your portfolio view under "Balances", Perpetual positions can be viewed.
Spot margined positions can be viewed under your accounts tab within your portfolio view under "Balances", Perpetual positions can be viewed.&#x20;
![](../.gitbook/assets/positions.png)
@ -60,33 +60,33 @@ Spot margined positions can be viewed under your accounts tab within your portfo
![](../.gitbook/assets/sporttop.png)
**For perpetual futures markets** to make a leveraged trade is very similar, except your are not buying the asset in question, you are simply buying exposure to that asset and its price movements, positions can be view under the perp positions tab under or under accounts tab.
**For perpetual futures markets** to make a leveraged trade is very similar, except your are not buying the asset in question, you are simply buying exposure to that asset and its price movements, positions can be view under the perp positions tab under or under accounts tab.&#x20;
![](../.gitbook/assets/perpep.png)
## Spot Margined Markets
## Spot Margined Markets&#x20;
Mango and its spot margined markets are built on top of the Serum DEX ecosystem. Mango's risk engine allows users to trade Serem DEX's order-books with up to 5x leverage.
Mango and its spot margined markets are built on top of the Serum DEX ecosystem. Mango's risk engine allows users to trade Serem DEX's order-books with up to 5x leverage.&#x20;
![](../.gitbook/assets/sport.png)
## Perpetual Futures Markets
## Perpetual Futures Markets&#x20;
Mango also offers perpetual futures built on the Mango protocol with its own order-book. Trade with up to 10x leverage and enjoy permissionless price exposure to any of the assets int he mango group. (currently there is only BTC-PERP, but will be adding more markets soon)
Mango also offers perpetual futures built on the Mango protocol with its own order-book. Trade with up to 10x leverage and enjoy permissionless price exposure to any of the assets int he mango group. (currently there is only BTC-PERP, but will be adding more markets soon)&#x20;
![](../.gitbook/assets/perp.png)
## 🥭 **pays the Lowest Fees **
## 🥭 **pays the Lowest Fees**&#x20;
Mango traders save substantially on Serum DEX trading fees by pooling SRM together in Mango. Serum's tier structure determines fee rates based on the amount of SRM held in an account; the more SRM in an account, the less you pay in fees and the more you earn as a maker. The highest tier is 1 MegaSerum(MSRM), worth 1 million SRM, and unrealistic for most people to obtain.
Mango traders save substantially on Serum DEX trading fees by pooling SRM together in Mango. Serum's tier structure determines fee rates based on the amount of SRM held in an account; the more SRM in an account, the less you pay in fees and the more you earn as a maker. The highest tier is 1 MegaSerum(MSRM), worth 1 million SRM, and unrealistic for most people to obtain.&#x20;
Luckily, Mango margin accounts are structured such that SRM deposits are combined with all users to collectively reach a higher tier and benefit together when trading on the platform. \
\
SRM deposits are counted as collateral and toward the community fee tier.
SRM deposits are counted as collateral and toward the community fee tier.&#x20;
![](../.gitbook/assets/srm.png)
## **Join the community **👾
## **Join the community** 👾
The Mango team is committed to providing a fully decentralized, open source, leveraged trading platform capable of matching a centralized-exchange feel with all the unique benefits of DeFi. We are excited to launch Mango Markets and continue bringing new leveraged trading products to life in decentralized form. Visit us at [mango.markets](https://mango.markets) to trade and lend.