Today, we are excited to announce the listing of four new tokens on Mangata X: BNC, vMOVR, vKSM, and vsKSM. The listing will double the amount of tokens available on the Kusama DEX Mangata X. These tokens will be made available through a new XCM channel to Bifrost. MGX will become available on the Bifrost chain. Users will be able to deposit and swap tokens in the coming days. New liquidity mining incentives and arbitrage opportunities will open up as a result of these listings.

Connecting Bifrost’s Capital Efficiency to Mangata X

Bifrost is a DeFi parachain that focuses an liquid staking and liquid crowdloan derivatives. It allows users to tap into the earnings possibilities of native staking without having to deal with the inner complexities. Therefore, Bifrost’s vision is a perfect match for Mangata’s focus on capital efficiency.

New token listings

Four tokens will be made available for trading on Mangata X:

  1. BNC, the native token of Bifrost Finance, represents a stake in the Bifrost
  2. vMOVR is Bifrost’s latest product and offers liquid staked MOVR. It represents staked MOVR from the Moonriver parachain that is staked and accrues interest in MOVR over time.
  3. vKSM is liquid staked KSM. Similarly to vMOVR, it allows users to get exposure to KSM staking rewards without having to deal with the complexities of staking themselves.
  4. vsKSM represents liquid crowdloaned KSM. It is given to users who crowdloan to Kusama parachains via Bifrost.

New Earnings Opportunities with Incentives and Arbitrage Opportunities

As those new tokens enter the Mangata X ecosystem, it will open up new earnings opportunities for liquidity providers and arbitrage traders.

Liquidity mining incentives will be decided by the Mangata X council in the coming days. The Council will leverage the new Liquidity Gauges feature which is being launched on Mangata X this week. The community is invited to make suggestions on which pairs should be incentivized on the Mangata Discord.

As more pairs get listed on Mangata X, new arbitrage opportunities to other DEXes in the ecosystem open up for active observers.

Pool creation on Mangata X is permissionless, anyone can do it. Alongside the protocols’ promoted pools, Mangata X users will be able to create custom Liquidity pools between the tokens that are already listed on Mangata X.

airwhale valhalla.png

Valhalla (1896) - Max Brückner

Rollout

As this represents a larger rollout with 4 more tokens entering the Mangata X ecosystem, we will proceed in steps and will make further announcements on the exact listing times and modalities.

Join us in our socials to stay updated on the latest developments, and accompany us on our ride through Valhalla!

  1. Follow us on Twitter @MangataFinance
  2. Join our channel on Telegram
  3. Subscribe to our YouTube channel
  4. Join the Mangata X Newsletter at x.mangata.finance
  5. Join the Discord channel

To Valhalla

Yet another shipment is served to you by the Mangata team, and there will be much more in the upcoming weeks. Our increasing number of channels and collaborations with other projects within the Polkadot ecosystem might also bring some other opportunities in the near future, like the listing of MGX on other exchanges.