Deposits At Mango Markets On Solana For The First Time

In this article we intend to show how many new trading accounts have been created by users since February 10th? How much SOL has been transferred into Mango Markets (not counting the one-time fee) from first-time deposits since February 10th? What was the average deposit amount during this time period?

What is Mango Market? How does it Works?

The Mango Markets decentralized cross-margin trading platform has lightning-quick transaction speeds and near-zero transaction costs, enabling users to take advantage of leverage up to 5x. Solana’s high-speed framework for their markets is used to build and launch this platform on its chain. This is the first leverage market to be built on the Solana chain, with both limits and market orders and a sleek UI.

Mango Markets is an online trading platform that supports limit and market order trades, leveraged trades, chart systems, lending, and near-zero fees.

It is important to understand how mango works so that you can get the most out of this tool. One thing to keep in mind is that borrow/lend and leverage trading share collateral.You can leverage trades or borrow money from your MangoAccount by depositing assets. These assets are automatically earning interest and available as collateral. If you decide to place a leverage trade, if the required capital is more than your deposits, funds will be borrowed. To do so, simply place your order for the amount you wish to borrow, and if the required capital is greater than your deposits, funds will be borrowed. By unchecking the margin box in the trade form, you can ensure you will not be taking on a borrow or leverage position to trade in spot markets.

There are no fees on interest for trading on Mango, since you will only have to pay fees for trading on Serum DEX. Limit orders can be placed on the Serum DEX on-chain central limit order book.SRM tokens are being used for liquidity to reduce trading fees. Mango Markets allows you to trade by connecting your wallet and depositing your currency. Interest is earned on all deposits.

There is a one-time registration fee of .035 SOL for opening a trading account on Mango Markets, a decentralized cross-margin trading platform built on Solana. Here, we are looking at the number of accounts that users are creating on a daily basis since February 10th,2022. The maximum number of new accounts was 201 on February 12, 2022, and the minimum number of new accounts was 21 on February 10, 2022.

From the graph below, we can see how much SOL has been transferred to Mango markets since Feb 10th, 2022 on a daily basis. In February 16, 2022, a maximum deposit of 678.99 was observed. In the beginning, we can see the daily SOL deposits trend decreasing. But on Feb 16,2022 we can see a spike that increases the daily SOL deposits. Later again, the trend decreases.

The graph below shows the daily average amount of SOL transferred to Mango Markets since February 10th,2022. The maximum average daily SOL Deposits of 5.31 were recorded in February 10, 2022, and the minimum average daily SOL deposits of 0.3 were recorded in February 12, 2022.

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