Mangata X Crowdloan has been capped within a day!

Mangata
4 min readJan 25, 2023

- Mangata X Crowdloan has been capped within a day!
- Latest Developments
- Roadmap
- Getting Prepared
- Stay Tuned
- About Mangata

The second Mangata X Crowdloan was yet another outstanding achievement. Mangata X Crowdloan capped in less than 24 hours. We are thankful for the support of our dedicated community. After a long time without a Crowdloan campaign in the ecosystem, it appears that the Kusama community values Mangata X’s ongoing development and introduction of new features.

The window to contribute to the second Mangata X Crowdloan was brief, 280 of our community members filled the Crowdloan cap just in a day. A total of 6k KSM (210k USD) has been contributed to the Crowdloan, with a median contribution of 3 KSM. It is only understandable if you missed this chance. But don’t fret, there’s another Crowdloan opportunity on the horizon, and it may be coming sooner than you expect!

Latest Developments

Mangata X continues to innovate and deliver. Starting with vsKSM, to further support Crowdloan efforts, we are introducing liquid derivative assets from Bifrost Finance to Mangata X community. The integration of vsKSM has enabled more capital-efficient options for our Crowdloan supporters by unlocking liquidity for their otherwise locked tokens and letting them utilize their KSM on DeFi.

Mangata’s aim to progressively decentralize the network also takes pace with off-chain governance discussions on liquidity weights. As the TVL of Mangata X just crossed $1M, we think that weight voting will have much more importance with the total decentralization of the protocol. The growing interest in Mangata X also manifested in the active user amount of Mangata X. We recently had more than 100 daily active users on Mangata X for the first time!

Roadmap

Our development team is focusing on the upcoming release of one of our core features, Gasless Swaps.

This long-anticipated addition to our ecosystem will bring a smoother user experience, unlock trading strategies like dollar-cost averaging, and allow traders to increase their trading frequency without additional costs. This makes it especially useful for active traders and arbitrageurs.

Listing vsKSM was huge, but other liquid derivatives are also coming to Mangata X. The liquid staking derivative vKSM will be the next one listed on the platform, and it will be followed by vBNC and vMOVR shortly after.

Opening new channels within the Kusama ecosystem is also among our priorities. The channel to Statemine is around the corner, and it will eventually allow us to list native USDT and RMRK tokens on Mangata X. After Statemine, we aim to open channels with Moonriver and Kintsugi. As an EVM chain, Moonriver channel will open the floodgates for EVM tokens on Mangata X. Kintsugi channel, on the other hand, will establish the connection with the mighty Bitcoin Network. Exciting times are on the horizon!

🚦 You can always check out our roadmap on: 🛣️ Mangata X Roadmap

Getting Prepared

We are both surprised and very excited after seeing the huge support from the community during the Mangata X Crowdloan. Our team is dedicated to building Mangata as “the DEX of Polkadot." Mangata X users are contributing a lot on the road to this objective, and we will always remember this support as we move on to the big cousin.

May the Airwhale bless you with infinite rewards.

Stay Tuned

Follow Mangata Finance to get updated on all our latest developments:

  1. Follow us on Twitter @MangataFinance
  2. Join the Telegram
  3. Subscribe to our YouTube channel
  4. Join the Mangata X Newsletter at x.mangata.finance
  5. Join the Discord channel

About Mangata

Mangata is on a mission to become the #1 DEX on Polkadot, offering traders and liquidity providers the best platform to access unique tokens and earn rewards.

We believe everyone should have the opportunity to participate in the decentralized economy and benefit from the power of blockchain technology. That’s why we’re creating a user-friendly platform that makes it easy for users to trade, provide liquidity, and earn from multiple passive income streams through double staking rewards, even if they’re new to crypto.

Mangata will offer access to the widest array of Polkadot tokens, better prices for traders by mitigating MEV, and the ability to trade without gas.

At Mangata, we’re dedicated to building a fair and transparent platform that puts the needs of users first, offering the lowest fees for traders and the highest rewards for stakers. We’re committed to continuously improving our platform and offering new features that provide even more value to our users.

Join us on our mission to become the #1 DEX on Polkadot and unlock the full potential of the decentralized economy.

Website | Twitter | Discord | Telegram | YouTube | GitHub | Blog

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Mangata

Our mission is to bring fair rules for traders: a guarantee of low fixed-fees and reliable orders.