{"id":396423,"date":"2023-05-22T12:56:05","date_gmt":"2023-05-22T12:56:05","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=396423"},"modified":"2023-05-22T13:02:41","modified_gmt":"2023-05-22T13:02:41","slug":"dex-mangrove-launches-on-polygon-testnet-as-it-plans-to-go-live-in-june-on-mainnet","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dex-mangrove-launches-on-polygon-testnet-as-it-plans-to-go-live-in-june-on-mainnet","title":{"rendered":"DEX Mangrove Launches On Polygon Testnet, As It Plans To Go Live In June On Mainnet"},"content":{"rendered":"<p>On Monday, the Decentralized Exchange (DEX), Mangrove firm <a href=\"https:\/\/www.mangrove.exchange\/\" target=\"_blank\" rel=\"noopener\">went<\/a> live on Polygon\u2019s Testnet with a programmable order book. Mangrove, based in Paris, has raised around $10 million. The firm is backed by trading and market-making powerhouses like Winterhouse and Cumberland. However, the platform has noted that the mainnet launch will probably launch at the commencement of June.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">That&#39;s just a glimpse of what&#39;s waiting for you on our new website! Explore the full experience and discover the benefits, principles, and vision behind Mangrove.<\/p>\n<p>Visit <a href=\"https:\/\/t.co\/P2itiVJZ9E\">https:\/\/t.co\/P2itiVJZ9E<\/a> now and embark on your DeFi journey with us! \ud83c\udf33\ud83c\udf1e<\/p>\n<p>&mdash; Mangrove \ud83c\udf33 (@MangroveDAO) <a href=\"https:\/\/twitter.com\/MangroveDAO\/status\/1660542073517359105?ref_src=twsrc%5Etfw\">May 22, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the 2020s, \u2018\u2019Summer-of-DeFi,\u2019\u2019 <a href=\"https:\/\/insidebitcoins.com\/news\/traders-in-defi-taking-home-up-to-60-in-annualised-gains-find-out-how\">opened<\/a> to the thought that any individual can be inclusive in providing liquidity to financial markets, not only well-known firms and institutions. However, the original DeFi tools were referred to as blunt, as developers have been sharpening the infrastructure required to evolve the space ever since.<\/p>\n<h2>Mangrove Co-founder&#8217;s Remarks<\/h2>\n<p>Mangrove\u2019s \u201cadvanced limit order\u201d innovation shows that an intention to trade can take the form of a piece of code and function like an IOU, so an offer to sell some ETH at a specific price, for example, can exist on-chain without the need to lock up funds. In an interview with <em>CoinDesk<\/em>, Mangrove co-founder Vincent Danos stipulated that \u2018\u2019this allows traders to use those assets elsewhere without cancelling the offer and recovering the funds.\u2019\u2019<\/p>\n<p>Further, Danos noted:<\/p>\n<blockquote><p><em>\u00a0If you declare your trading intention on Mangrove, a market engine will call that piece of code and ascertain whether the liquidity as promised is available and deliver it. If not, you must pay a little compensation or penalty for the amount of gas the taker incurred, triggering a promised trade you won\u2019t fulfill.<\/em><\/p><\/blockquote>\n<p>This more flexible version of a limit order allows traders on Mangrove to propose selling some digital assets at a given price while depositing those assets as collateral on a lending platform and generating passive yield. Danos further added:<\/p>\n<blockquote><p><em>So, simultaneously, you have a savings account and can sell at a particular exit price.<\/em><\/p><\/blockquote>\n<p><strong>Read More:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/hotbit-exchange-suspends-operations-as-it-urges-its-clients-to-withdraw-funds\" rel=\"bookmark\">Hotbit Exchange Suspends Operations, As It Urges Its Clients To Withdraw Funds<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/huobiglobal-ordered-to-cease-operations-by-malaysian-regulators\" rel=\"bookmark\">HuobiGlobal Ordered to Cease Operations by Malaysian Regulators<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/as-u-s-budget-talks-resumption-biden-slams-rich-crypto-traders\" rel=\"bookmark\">As U.S. Budget Talks Resume, Biden Slams Rich Crypto Traders<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/cardano-price-analysis-ada-struggles-with-recovery-as-losses-to-0-33-linger\" rel=\"bookmark\">Cardano Price Analysis: ADA Struggles With Recovery As Losses To $0.33 Linger<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/copium-tank-nfts-trend-on-opensea-best-nfts-to-buy-now\" rel=\"bookmark\">Copium Tank NFTs Trend On OpenSea \u2013 Best NFTs To Buy Now<\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">On Monday, the Decentralized Exchange (DEX), Mangrove firm went live on Polygon\u2019s Testnet with a programmable order book. Mangrove, based in Paris, has raised around <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/dex-mangrove-launches-on-polygon-testnet-as-it-plans-to-go-live-in-june-on-mainnet\" title=\"DEX Mangrove Launches On Polygon Testnet, As It Plans To Go Live In June On Mainnet\">[&#8230;]<\/a><\/div>","protected":false},"author":1910,"featured_media":358954,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[8558,7614,14322],"class_list":["post-396423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-defi","tag-dex","tag-mangrove"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DEX Mangrove Launches On Polygon Testnet, As It Plans To Go Live 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