Mango Network's MGO Token Launch: A Whopping 10 Billion Tokens Up for Grabs!

Get Ready for the Airdrop Frenzy!

Mango Network is about to set the crypto world on fire with its token generation event, unleashing a total of 10 billion MGO tokens! They're kicking things off with not one, but two electrifying airdrop events, slicing off a cool 10% of the token pie for the lucky recipients.

MangoOS_Network Spills the Beans on Tokenomics

In a sizzling official post, this layer1 blockchain with mind-blowing multi-virtual machine support just dropped the deets on its upcoming native token launch. While they're keeping the exact date of the MGO token generation event under wraps, they've already secured prime real estate on major crypto exchanges like Bitget, MEXC, and KuCoin, all set to go live on June 24, 2024, at 09:00 AM UTC. Talk about making a grand entrance!

Mango Tokenomics: The Breakdown

"As MangoOS_Network approaches its Token Generation Event (TGE), we're thrilled to reveal the Mango Tokenomics!" the network exclaimed in its post. And boy, do they have a plan!

They're rolling out a whopping 10 billion MGO tokens in total. A generous 10% of these bad boys, that's 1 billion MGO, are going straight to the early birds through airdrops. Half of that airdrop action, 5%, will shower the testnet participants, while the other half is being saved for the mainnet airdrop extravaganza.

"Half of the rewards are designated for the Testnet participants and active community contributors, while the other half is reserved for the future Mainnet Airdrop," the network declared.

Staking, Foundations, and Ecosystem Growth

But wait, there's more! A hefty 20% of the token supply is being earmarked to keep the Proof-of-Stake staking pool swimming in liquidity. This move is all about firing up validators and stakers to "ensure security and decentralization."

Another 20% is going to the Mango Network Foundation, and a juicy 17% is being thrown into the Ecosystem Innovation Fund to fuel developer dreams and ecosystem growth over time. Plus, 15% of the tokens are being set aside for the Mango Network team and early contributors, with another 15% going to the investors who believed in the vision from the start.

And let's not forget the advisors! They're getting a sweet 3% slice of the token pie.

A Long-Term Unlocking Plan

Now, here's the kicker: all these token allocations, including the mainnet and testnet airdrop goodies, are locked into an unlocking framework that stretches over a whopping seven years. That means the tokens will trickle out at a rate of 12 million per year until the grand finale, seven years down the line.

Mango Network's MGO token launch is shaping up to be one hell of a rollercoaster ride. Buckle up, crypto enthusiasts, because this is just the beginning!