MOVR is listed on Mangata X! — Liquidity Mining for MOVR-MGX is Kicking off on August 11
An exciting day is here for Mangata community! We are happy to announce that Moonriver is connected to Mangata X, and the tokens can seamlessly flow between the two parachains.
Moonriver is an Ethereum-compatible smart contract platform on the Kusama Network that allows developers to deploy existing Solidity smart contracts and DApp’s on the blockchain.
Moonriver’s native token, MOVR is recently listed on Mangata DEX. Users will be able to provide liquidity and begin earning rewards from liquidity provision starting the 11th August. On the other hand, xcMGX is now transferable and can be utilized on Moonriver, for the first time as an EVM asset.
After a meticulous OpenGov process on Moonriver governance, the channel between Mangata X and Moonriver is finally open. Kudos to our valuable frens in the Purestake team!
The Moonriver channel represents an important step for Mangata as Moonriver is the first EVM parachain that is connected to Mangata X. This channel will allow Mangata X to list xc20 assets and also facilitates the transfer of MGX to an Ethereum-compatible environment.
Based on the proposal at Mangata X governance forums on Discord, the new pool weights will be adjusted following the on-chain vote of the Mangata X council. The proposed weight for the MOVR-MGX pool is 13.5% of the MGX incentives. It targets an APR of 80% on the total liquidity of 32,000 USD.
New Listing Opportunities
The establishment of a channel with Moonriver enables Mangata X to introduce a broad range of XC20 assets into its listings. This development not only diversifies the token portfolio on Mangata X but also brings novel possibilities for asset trading between the two parachains.
The future holds promising possibilities in the realm of cross-chain collaborations!
Mangata is on a mission to become the #1 interchain DEX, offering traders and liquidity providers the best platform to access native tokens and earn rewards.
We believe that everyone should have the opportunity to participate in the decentralized economy and benefit from the power of blockchain technology. That’s why we are 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 are new to crypto.
Mangata will offer access to the widest array of tokens from all chains, 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 interchain DEX and unlock the full potential of the decentralized economy.