Mango Network has announced the upcoming launch of its MGO token with a total supply of 10 billion units, including two airdrop events for early participants. While the exact date has not been specified, sales are planned on major crypto exchanges.
Overview of MGO Token
Mango Network, a layer 1 blockchain with multi-virtual machine support, recently unveiled the tokenomics for its upcoming token launch. Although no specific launch date was mentioned, the tokens have already been listed on major exchanges such as Bitget, MEXC, and KuCoin.
Token Distribution Structure
According to the announcement, a total of 10 billion MGO tokens will be issued. Around 10% of these, or 1 billion tokens, will be distributed to early supporters through airdrops: 5% will be allocated for the testnet and another 5% for the mainnet. The largest share of the token supply, 20%, will be allocated to maintain staking liquidity, while another 20% will go to the Mango Network Foundation.
Token Unlocking Conditions
All token allocations, including airdropped tokens, will be subject to an unlocking framework that spans over seven years. This means that token distribution will unlock gradually, at a rate of 12 million tokens per year.
The launch of the MGO token and its distribution structure aim to stimulate growth and security within the Mango Network ecosystem while supporting active participants and ensuring liquidity.
