Today, we’re extremely pleased to announce that Mangata has officially completed our first milestone for the Substrate Builders Program!
This marks a huge step next for our project from a developmental perspective, enabling us to further enhance our Polkadot-based DEX product. Mangata is amongst a select other few projects that have also completed their first milestones.
Keep on reading to find out more about what we’ve recently accomplished, as well as what else we’ve got in store.
What is Substrate Builders?
The Substrate Builders Program by Parity is an initiative that supports and mentors teams building projects on Substrate. It’s designed to help elicit further creativity and overcome specific barriers associated with building promising Substrate-based projects from the ground up.
Through this program, teams are able to tap into the vast resources of Parity, a blockchain infrastructure company helping individuals develop more robust technologies, to enhance their projects on the Substrate ecosystem.
Different levels of support include strategic guidance, scalability of infrastructure, and technical and community support, to name a few.
All projects within the program are split up amongst the various tracks:
- Chains track: Projects seeking to build innovative chains of various kinds
- Infrastructure track: Projects creating blockchain mechanisms, such as bridges and tools, that are tied to Substrate and Polkadot
- Application Track: Projects that are building dApps on top chains running on Substrate
Mangata Has Completed M1
Below is a list of recent achievements we’ve completed in order to hit our initial milestone goals within the program:
- A buy/burn mechanism that enhances the token economy. The trading activity directly results in automatic buying and deflationary burning of the token.
- The availability of staking on our network through providing liquidity
- A bridge linking the Ethereum and Polkadot networks for asset transfers
- Prevention of front-runner attacks - the construction of blocks is separated into two steps: Block building and Block execution. This separation was needed to prevent VER (Value Extraction by Reordering) by introducing automatic shuffling of transactions. With this mechanism, validators nor users can know exactly the transaction ordering.
All of these upgrades and modifications have now been made available on the new Mangata testnet, and we’re excited to have our community members try it out for themselves!
Next Steps for M2
For our next milestone targets, we’ll be primarily focusing on enhancing our protocol’s security and quality assurance.
- E2E (end-to-end) test coverage of the entire codebase and user interface program
- Prevention of VED (Value Extraction by Denial) so miners or network operators can’t stop transactions from being contained within blocks
- Addition of new assets
- Migration to new asset pallet
- Incorporation of a governance mechanism, where $MGA token holders can vote within the council for protocol proposals and changes
- Successful completion of security audits (we’re also seeking another security firm to take a look through and verify our code)
To stay up-to-date on everything related to our project, and track our overall progress on our future deliverables and upgrades, make sure to follow us on our blog and social media channels.
Stay tuned for the blog updates
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