Share this article
Crypto Exchange Mango Markets Considers Raising Interest Rates for Popular Tokens
Only the pool for borrowing and lending SOL tokens would be affected by the proposed changes.
By Danny Nelson
Updated Mar 28, 2023, 3:31 p.m. Published Mar 28, 2023, 2:14 p.m.
The governing body that manages decentralized crypto exchange Mango Markets is voting on boosting the interest rates the Solana-based protocol pays to lenders of its most popular tokens.
All tokens pools at 50% utilization – meaning half of user-supplied tokens are being lent out – would offer 1.8% interest under the proposal, an increase from the existing rate of zero. That utilization level is also lower than the current 70% at which effective interest rates increase or decrease based on how strained a pool has become.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The proposed changes stem from concerns that Mango Markets’ current measures might falter if utilization rates climb too high – a situation that would prevent lenders from withdrawing tokens or borrowers from taking new positions. By paying higher rates at lower utilization levels, Mango is looking to better retain existing deposits and woo newcomers.
The organization's legal troubles and waning energy for Solana-based decentralized finance have put a damper on trader demand for borrowing and lending tokens. Only Mango’s SOL pool had a high enough utilization rate (78%) at press time to be affected by the changes, Mango’s statistics show. That pool had just 264 tokens (roughly $5,500) available to borrow.
The motion would take effect three days after its passage. It is being considered by MNGO token holders in a vote that ends Wednesday. At press time it had unanimous support, but had not reached the necessary quorum to pass.
Proposal author Christian Kamm, a contributor to Mango Markets, did not immediately return a request for comment.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
Top Stories
