Mangrove

Mangrove is a slipage-free DEX with an order book on the Polygon network.

Mangrove uses a "black box" approach.
The "black box" approach creates certain advantages, such as a "last look" at offers or increased liquidity by selling the same asset in different markets.

According to the developers: Mangrove solves the problem of inefficiency, since the liquidity/collateral does not necessarily have to be on the CEX/DEX itself, but can be obtained from another pool or DeFi protocol after the order in the order book is completed.
Thus, Mangrove violates one of the basic concepts of DeFi — the need to lock your liquidity in a single protocol, jeopardizing the efficiency of capital.
This breakthrough was very necessary.

Cumberland and Greenfield Capital jointly led the fundraising effort.
The startup received $2.7 million during the initial fundraising round, which was supported by cryptocurrency titans including Wintermute Ventures and QCP.
And $7.4 million to create its own decentralized exchange based on the order book.

Mangrove will first be launched on Polygon (MATIC), and a little later, on several other networks compatible with Ethereum Virtual Machine (EVM).

Updated on: 17/01/2024