Mango Network unveils MGO tokenomics ahead of TGE

Heecheol Yang

Summary

Mango Network announced its MGO tokenomics ahead of the Token Generation Event (TGE).
The total supply is 10 billion and features a diverse allocation structure, including 20% to the POS staking pool, 20% to the foundation, and 15% to investors.
Each of the testnet and mainnet airdrops received 5%, and 1 billion were allocated for early contributor rewards.

The multi-virtual machine (Virtual Machine) full-chain network Mango Network has announced the Mango Network (MGO) tokenomics ahead of its Token Generation Event (TGE).

According to Mango Network X on the 23rd (local time), the total supply of MGO tokens is 10 billion.

The token allocation consists of 20% for the Proof-of-Stake (POS) staking pool, 20% for the foundation, 17% for the ecosystem innovation fund, 15% for the team and early contributors, 15% for investors, 5% for the testnet airdrop, 5% for the mainnet airdrop, and 3% for consultants. In particular, 5% of the total is allocated to the testnet airdrop.

Mango Network stated, "Out of the total 10 billion MGO tokens, 1 billion have been allocated as rewards for early contributors," and "these tokens are distributed to various stakeholders who have played a key role in the ecosystem's growth so far."

A full-chain network refers to an architecture that allows data, assets, and applications to be fully processed on-chain within the network. Mango Network is notable for being designed to integrate and operate various blockchain virtual machines such as Ethereum, Solana, and Bitcoin within a single network.