Assess, lend, borrow, and swap on Mango Markets

ProjectMango Markets
ChainSolana
Time10 minutes
Reward$1 in SOL

What is Mango Markets? 

Mango Markets is a platform where you can borrow, lend, swap, and trade cryptocurrency through Mango Markets' refined risk engine. To better understand a risk engine, some clarification will be needed on what is being calculated when trading cryptocurrency. 

Mango Market’s Risk Calculator estimates a health ratio upon inputting an account’s token deposits, borrows, and pricing. Any changes to these factors influences the health ratio of your account. This is useful, as it helps traders develop strategies based on current market conditions, and take the right action at the right time. 

In addition to the powerful risk engine, Mango Markets offers a variety of DeFi features, such as borrowing, swapping, lending, and trading cryptocurrencies. Mango Market features its very own token, which can be used as voting power and locked away to increase your voting power. 

What we’ll do in this tutorial 

We will be going through, step by step, how to get started on Mango Markets. For this tutorial, you will need a Phantom wallet with more than 0.035 to create your account. Additionally, we’ll go through how to borrow, so you’ll need some extra if you want to borrow as well.

1. Go to Mango Markets Website

Go to this link to get started. 

Connect your wallet with Mango Markets

2. Create an Account

Once you’ve connected your account, a “Create Account” button will appear next to the settings icon

Follow the steps, and make sure you have more than 0.035 SOL in your wallet to successfully create the account.

3. Head over to the borrow section

Once you’ve successfully created your account, go to the borrow section.

Select a cryptocurrency you want to borrow (make sure you have more crypto than you are borrowing as collateral)

Choose how much you want to borrow and confirm the transaction.

4. Claim your reward! 🎁

You've completed the required steps, and it's time to get paid! The final step is submitting a reward claim so we can verify you've completed the tutorial.

Click the “Claim Reward” button at the top of the page.

Fill in the address of the wallet you used for this tutorial.

Submit the form and wait!

We’ll confirm that you transacted using Mango markets and send over $1 of SOL as a reward