Mangata, a cross-chain decentralized trading platform, trades cross-chain assets at low handling fees. Its mission is to set fair rules for traders, eliminate volatile network fees, and quickly resolve trading problems. Mangata bridges Ethereum, thus establishing a channel between the DeFi ecosystems.

Project Introduction

Mangata is a cross-chain DEX located between the Polkadot and ETH DeFi ecosystems. The first and most important currency pair is DOT:ETH, which is the basic liquidity channel.

Mangata is an AMM (Automatic Market Maker) DEX with a mechanism similar to Uniswap.
Liquidity reserves can be provided by two types of people:
Verifiers, their shares are reused as liquidity in AMM
Pure liquidity provider, user who has no ambition to become a verifier
In fact, liquidity reserves are merged with the interests of the PoS consensus from the chain. We call it PoL-Liquidity Proof.
The local token MNG is responsible for staking. Since liquidity requirements in AMMs require locking a pair of assets, each validator must loft two assets, such as MNG:DOT. Verifiers can stake MNG and pair with any token of their choice.

Fee
In existing DEXs such as Uniswap, traders must pay two fees. Exchange fees (usually 0.3%) and network fees. Network fees depend on the conditions of the Ethereum fee market and are usually very volatile.
In Mangata, there is no need to pay a network fee, and the dealer can perform the redemption operation only by paying a fixed fee. By ignoring fees, Mangata can offer an average of 50% cheap deals.
We believe that trading strategies should be built around price forecasting and asset appraisal rather than based on managing network expenses.

Our mission is to create fair rules for traders: fast trading resolution, guaranteed low fixed fees, and advanced defenses on the Polkadot ecosystem.
Our goal is to create the No. 1 Go-To protocol for online traders and circulating volume providers of digital currencies.