Mango Network has released the tokenomics of its forthcoming native token, MGO. In conjunction with this news, they announced an impressive airdrop program to take it nationwide! MGO token supply is limited to 10 billion tokens in total. Through this allocation, they hope to advance the long-term health and growth of the network while fostering greater decentralization. A majority of the above tokens will be directly given back to the community via a series of airdrop events.

As a governance tool, the MGO token allocation includes 20% dedicated to a Mango Network Foundation, providing for long-term resources and development of the platform. Another 17% is earmarked for the Ecosystem Innovation Fund, aimed at fostering new projects and applications within the Mango Network. A further 20% goes directly to ensuring the Proof-of-Stake staking pool remains liquid, an important aspect of any network’s stability.

Most of the investors will get 15% percent of total MGO tokens. The Mango Network team and early contributors will receive an extra 15% on top. The announced airdrop events will distribute 10% of the total supply (more than 1 billion MGO tokens) to early community supporters. The distribution consists of 5% allocated for the testnet airdrop and 5% allocated for the mainnet airdrop.

"As MangoOS_Network approaches its Token Generation Event (TGE), we’re thrilled to reveal the Mango Tokenomics!" - Mango Network

MGO tokens will be released according to a structured unlocking framework that lasts a total of seven years. Tokens will unlock over time in annual increments of 12 million tokens a year, providing a predictable and manageable long-term distribution.

"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," - Mango Network

While the exact date for the MGO token generation event remains unannounced, the MGO token has secured listings on major crypto exchanges like Bitget, MEXC, and KuCoin for June 24, 2024, 09:00 AM UTC. This strategic decision should greatly enhance the token’s accessibility and liquidity at launch.