Mangata X Extended its Parachain Lease on Kusama

Mangata
5 min readFeb 14, 2023

The second Mangata X Crowdloan was a great success, with a cap of 6k KSM (210k USD) reached in less than 24 hours thanks to the support of 280 dedicated community members. With a median contribution of 3 KSM, the brief window to contribute to the Crowdloan demonstrated the community’s appreciation for Mangata X’s ongoing development and introduction of new features.

The Mangata X community raised a lot of questions regarding the confusion between the auction and Crowdloan mechanisms, but there is nothing to fear. Both the Crowdloan and the auction were very successful, and Mangata X secured another year of a Parachain slot on Kusama Network.

Distribution for the rewards of the 2023 crowdloan is expected to begin in April, and by then, all rewards from the 2022 crowdloan will be automatically distributed if you did not claim them manually. You can always follow this user guide to claim your accumulated rewards from the previous crowdloan.

Did you contribute to Mangata X crowdloan on Bifrost SALP? You can bridge your vsKSM to Mangata X for further rewards on your liquid crowdloan position by following this guide. Please know that you cannot redeem your crowdloaned KSM from Bifrost if you lose your vsKSM.

What’s on the Horizon

The world of decentralized trading is constantly evolving and Mangata is keeping up with the latest trends and innovations. We are committed to continuing to serve the Mangata community by releasing new features and listing new tokens on Mangata X.

No More Gas Fees

With the successful launch of our highly-anticipated feature, Gasless Swaps, Mangata is making decentralized trading accessible to everyone by addressing the common problems of high and unpredictable fees that traders often face.

By eliminating the costs of gas and miner extractable value (MEV), Mangata provides traders with a clear and straightforward way to plan and execute their trades. This opens up the decentralized finance opportunities to a wider range of traders and offers access to more capital-efficient strategies, like dollar-cost-averaging.

Check out our blog post explaining the mechanism behind Mangata’s Gasless Swaps feature.

More Listings on the DEX

At Mangata, we’re dedicated to expanding our reach within the Polkadot ecosystem. Our next exciting development will be the opening of a channel to Statemine, which will allow us to list USDT and RMRK tokens to Mangata X.

With the USDT listing, users will now be able to see their MGX balance in USD value, providing a new level of clarity to their investments. In addition, we are proud to be getting ready to list RMRK, one of the most established and in-demand projects in the Polkadot ecosystem. With these new listings, Mangata X is bringing even more options to its users and providing a truly dynamic trading experience.

After Statemine, we are looking forward to establishing a channel with Moonriver. It will be the first direct EVM bridge for Mangata X and enable us to offer MGX tokens in the form of xcMGX to be utilized in EVM DeFi. You can always check out to be the first to know about the upcoming features and listings on Mangata X.

Steer the Airwhale!

Once again, we would like to express our heartfelt thanks and appreciation to our devoted community for their support during the crowdloan. The enthusiasm of Mangata X users will be remembered when we are making our moves toward the big cousin. Our team is dedicated to making Mangata X the DEX of Polkadot, and with the active participation and contributions from our users, we know that we can reach this goal.

The Mangata community plays a critical role in driving the platform forward and determining its direction. Join the conversation about the pool weights of upcoming token pairs on our discord and be a part of Mangata X governance. By actively participating in discussions and decision-making processes, our users have the power to shape the future of Mangata and help our efforts in decentralizing the network even further.

Together, we are creating a decentralized platform that provides the best possible trading experience for all!

Ships at Anchor — Ivan Aivazovsky

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.