The one-stop shop for Polkadot assets, with 0 gas fees and no frontrunning
Mangata is the one-stop shop for trading and investing into Polkadot assets. Parachain candidate that will bring fairness into the world of trading, mitigating frontrunning and provide 0 gas costs. Proof of Liquidity is used to merge staking and liquidity provision, thus validators are incentivized through liquidity mining.
Mangata is a parachain DEX, that has custom consensus which solves frontrunning and miner-extractable value. With this innovation they can bring 0 gas costs on the network and provide 100% reliable execution of trades. The UI is seamlessly integrated to be a bridge between Ethereum and Polkadot, using your Ledger HW wallet for trading.
"Two years ago, we were attending a conference in Berlin and watching a panel discussion about the state of Ethereum. Gleb, our CTO, asked something that had been haunting him for a while:
“What prevents miners from replacing user transactions and frontrunning with their own?”
As much as it felt like an elephant in the room, the answer was: “Nothing. We can only hope that miners are honest and won’t do that.”
At the time, it wasn’t a palpable problem, but times have changed. Over the past year, the crypto sub-domain of Decentralized Finance (DeFi), has grown more popular and is on a continuing uptrend. With this rise in DeFi, users are increasingly relying on Decentralized Exchanges, lending protocols, and other applications.
With this surge, we’ve also noticed an increasing number of attacks capitalizing on MEV — Miner Extractable Value. It was described in 2019, in a study that appeared on Arxiv, as an attempt to quantify miners’ malicious actions. Miner Extractable Value refers to a miners’ predictable gains, at the economic loss of a user, through reordering block content in a way most favorable to them.
We decided this is not the environment where healthy and reasonable trading strategies can be developed, and decided to redesign the blockchain from first principles and mitigate unfair miner behaviors. Mangata was born in 2020"
Peter Kris - Founder
Gleb Urvanov - Founder