The cross-chain decentralized exchange platform, Mangata, facilitates the trading of cross-chain assets with low transaction fees. Its mission is to establish fair rules for traders, eliminate volatile network fees, and swiftly resolve trades. Mangata will bridge Ethereum, thereby establishing channels between 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 serves as the foundational liquidity channel.

Mangata is an AMM (Automated Market Maker) based DEX, similar in mechanism to Uniswap. Liquidity reserves can be provided by two types of individuals:
Validators, whose stakes are reused as liquidity in the AMM
Pure liquidity providers, users who do not wish to become validators
In practice, the liquidity reserves are merged with the PoS consensus staking from the chain. We call this PoL - Proof of Liquidity.
The native token MNG handles staking. Since liquidity requirements in the AMM necessitate locking a pair of assets, each validator must stake both assets, for example, MNG:DOT. Validators can stake MNG and pair it with any token of their choosing.

Fees
In existing DEXs like Uniswap, traders have to pay two fees. The swap fee (typically 0.3%) and network fees. Network fees depend on the conditions of the Ethereum fee market and are usually highly volatile.
With Mangata, there are no network fees; traders only pay a fixed fee for swap operations. By ignoring these fees, Mangata can offer trades that are on average 50% cheaper.
We believe trading strategies should revolve around price forecasting and asset valuation, not managing network fees.

Our mission is to establish fair rules for traders: swift trade resolution, guaranteed low fixed fees, and proactive protection for the Polkadot ecosystem.
Our goal is to create the go-to protocol for online traders and digital currency liquidity providers, ranking number one.