Mangata X launching crowdloan on Kusama
Mangata X is a new style DEX that aims to reach a parachain slot on Kusama. The main advantages and qualities are no-gas transactions, which suits better to regular people than actual gas fees on Ethereum for example. And the biggest upgrade is front-running protection for better efficiency of your trades without front-running bots.
Mangata X crowdloan
Mangata X launched the crowdloan with the goal to reach one of the slots in the upcoming parachain auction on Kusama. While batch #6 will be started, Mangata X would like to win slot #26 or #27 at best. But let us take a look at their crowdloan details closely.
Mangata X offers to their supporters 14% of the MGX tokens, which represents 140 mil. tokens out of 1 bil. in total.
21% of the MGX tokens will be available after token transfers will be enabled. The rest 79% MGX tokens will be released linearly.
The cap is set up relatively low at 14,000 KSM. That means a minimum base reward is 6,250 MGX per 1 KSM contributed.
Crowdloan bonuses
Mangata X is giving away three different bonuses:
1. Referral bonus
10% referral bonus is splitter between both referrer and referred users each getting 5%.
2. Kusama DEX users bonus
Mangata X is trying to attract enough liquidity to facilitate higher volume trading. Due to that, they are offering a 30% bonus on the Crowdloan for each user that provided liquidity on some of the Kusama’s DEX: Karura, Zenlink on Bifrost, Solarbeam on Moonriver or Sushiswap on Moonriver. By that there is a guaranteed minimum reward of 8,125 MGX per 1 KSM contributed
3. Early community members bonus
This is a juicy one and definitely an amazing bonus to support early community members. If you find yourself on the list of Discord users that supported Mangata early on, you are eligible for a 50% bonus on the Crowdloan that guarantees you an allocation of 9,375 MGX per 1 KSM contributed.
Final words
If you are looking for a project that has our sympathies and competes for some of the latest batches of auctions on Kusama, you should dive deeper into Mangata X. With their crazy crowdloan bonuses, you can get up to 85% for yourself and even more with your referrals.
Get in mind that the start of the Mangata X Crowdloan is on Tuesday, 22nd of February at 3 pm UTC.
You can check out our interview with the founder of Mangata X, developer Peter Kris from Slovakia. Well, this interview is from one year ago, but you can get much info about present DEX problems such as frontrunning.
If you like this article, consider supporting us by nominating your tokens to our Kusama or Polkadot validator going by the POLKADOTTERS name.
