Mango Finance Genesis Pools Launch

March 10 update – the team created a poll asking Discord members if they wanted the team to deploy new contracts and get a RugDoc, or keep the existing contracts. As of right now (about 6am UTC on March 10), the option of keeping the existing contracts and launching as planned is winning. So, it appears it will move forward as planned, but check with the team for the latest updates.

New algorithmic stablecoin pegged 1:1 to USDC on Arbitrum.

DETAILS

• Genesis Farms
  • Genesis farming will last for 1 day
  • 1,800 MANGO rewards to be distributed across the following pools:
    • Native pool
      • 50% — MANGO/USDC
    • Non-native pools
      • 25% — USDC
      • 25% — wETH
  • 1% deposit fee on non-native pools; 0% on native pools
  • Pool referrals receive 1/4 of pool deposit fee
  • No withdrawal fee
  • LP farms is scheduled to open on March 10, 2023, 6pm UTC

• Tokens
  • $MANGO is the algo-stable, pegged 1:1 to USDC
    • Initial supply: 2,800
      • 1,800 — Genesis rewards
      • 1,000 — Initial liquidity (MANGO/USDC)
  • $MSHARE is the shares token
    • Total supply: 45,501
      • 40,500 — Farming rewards (vested linearly over 300 days)
      • 4,500 — DAO fund (vested linearly over 300 days – 15 MSHARE/day)
      • 500 — Dev fund (vested linearly over 300 days – 1.67 MSHARE/day)
      • 1 — Initial liquidity (MSHARE/USDC)
  • $MBOND is bond token