Derivatives · Review
Mango Review 2026: Solana Margin and Perps Trading
Mango is a Solana-based DeFi trading platform offering spot, perpetual and margin markets with up to 10x leverage, governed by a DAO and tied to the MNGO token. Check that the product is still live and read the risks before using it.
By the DappsAtlas editorial team · Updated
DappsAtlas score
5.5/10
Mixed
Our verdict on Mango
5.5/10Mango suits experienced Solana users who understand margin and perpetual trading and want non-custodial access to leveraged markets governed by a DAO. Its main strength is a broad feature set, spot, perps and up to 10x margin, combined with multiple liquidity sources. The main caveat is transparency: audits, fees and team details are not published in the sources reviewed, and the official site could not be confirmed, so verify that the platform is still live. Beginners should avoid leverage entirely.
Score breakdown
How Mango scores
- Security
- n/a
- Ease of use
- n/a
- Fees
- n/a
- Features
- 6.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Mango?
Mango, also known as Mango Markets, is a decentralized finance platform on Solana. Sources describe it as offering spot, perpetual and margin trading, with leverage of up to 10x, and drawing liquidity from several sources.
Earlier write-ups say the project set out to bring together centralized and decentralized finance, using Solana's speed and the Serum DEX order book. A DAO governs the protocol, and the MNGO token carries its governance rights.
The project does not publish audit reports, team details or a fee schedule in the material reviewed, and the official site could not be confirmed here. Readers should verify that the product is currently live before depositing funds.
How Mango works
Mango is a decentralized trading platform on Solana. Users connect a wallet and deposit assets into an on-chain account, and that balance acts as collateral for trading. Spot trades swap assets at market prices, while perpetual contracts let traders gain exposure to price moves without an expiry date.
With margin, the deposited collateral backs a larger position, with leverage up to 10x reported. If the position loses enough value, it can be liquidated to protect the protocol. Early descriptions say the project aimed to combine the speed of centralized exchanges with DeFi self-custody, using liquidity from the Serum DEX.
The protocol is governed by a DAO. MNGO token holders vote on proposals that shape how the platform is run.
5 features
Key features
01
Spot and perpetual markets
Users can trade assets at spot prices as well as perpetual futures contracts, all within one on-chain account.
02
Margin trading up to 10x
Margin trading with up to 10x leverage is reported, letting traders take larger positions than their deposits.
03
Integrated liquidity sources
The platform draws on several liquidity sources, including the Serum order book on Solana, to keep markets deep.
04
DAO governance
A DAO governs the protocol, and the MNGO token gives holders a vote on its direction.
05
Built-in safety mechanisms
One research site says the platform uses safety features meant to protect user funds, though the specifics are not detailed in the sources.
Pros and cons
What we like
- Combines spot, perpetual and margin markets in one on-chain account
- Non-custodial design: users trade from their own Solana wallet
- Draws on multiple liquidity sources, including Serum on Solana
- Governed by a DAO, with MNGO holders voting on proposals
- Solana's low transaction costs suit active trading
Watch out for
- Official site could not be confirmed here, so current availability of the trading interface should be checked before depositing
- Leverage up to 10x can liquidate positions quickly in volatile markets
- No audit reports, team details or insurance fund figures are published in the sources reviewed
- Fee schedule is not stated, so trading, funding and borrowing costs are unclear
- Trading volume for the MNGO token is very small in some listings, which points to thin liquidity
- Price is far below its all-time high, which reflects weak market confidence in the token
Mango fees
Mango does not publish a fee schedule in the sources reviewed. Trading fees, funding rates on perpetuals and borrowing interest on margin positions are the costs a user would normally expect on a platform like this.
Anyone considering the platform should look up the current fee tables in the protocol's own documentation or inside the trading interface before opening a position. Solana network fees also apply to each transaction.
Is Mango safe?
Mango is non-custodial, so users keep their keys, but they still carry smart-contract and liquidation risk. One research site says the platform uses safety features to protect funds, though no audit reports, insurance fund figures or bug-bounty details are published in the sources reviewed.
Leveraged and perpetual trading can cause rapid losses, and DeFi lending and margin protocols have a history of exploits across the industry. Check that the app is still maintained, review any recent DAO announcements, and confirm that derivatives trading is allowed where you live.
6 steps
How to get started with Mango
- 1
Confirm through the project's official DAO channels that the trading interface is still operating.
- 2
Set up a Solana wallet and secure the seed phrase offline.
- 3
Fund the wallet with SOL for network fees and the asset you plan to deposit.
- 4
Connect the wallet to the official app and create a trading account.
- 5
Read the fee, margin and liquidation rules before opening any position.
- 6
Start with a small deposit and low or no leverage.
Who Mango is for
Mango is aimed at experienced DeFi traders on Solana who are comfortable with wallets, margin, perpetual contracts and liquidation risk. It is not a good fit for beginners or for anyone unable to afford losses on leveraged positions.
Mango FAQs
What is Mango Markets?
Mango, often called Mango Markets, is a decentralized trading platform on Solana. It supports spot, perpetual and margin trading with up to 10x leverage, and a DAO governs it.
What is the MNGO token used for?
MNGO is the platform's governance token. Holders take part in DAO decisions about the protocol. It trades on exchanges, and listings show a price far below its all-time high.
Which blockchain does Mango use?
Mango runs on Solana. Users connect a Solana wallet and trade from their own account rather than registering with a centralized exchange.
How much leverage does Mango offer?
Up to 10x leverage on margin trading is the figure reported by one research site. Leverage magnifies losses as well as gains, and positions can be liquidated if the market moves against them.
Are Mango's fees and audits published?
The sources reviewed do not publish a fee schedule or audit list. Users should look for fee and security details in the protocol's own documentation and DAO channels, and confirm the app is still operating.
Is Mango safe for beginners?
No. Margin and perpetual trading is high risk, smart contracts can fail, and you can lose all deposited funds. Only use money you can afford to lose and check local rules on derivatives trading.
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How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.