Mangrove revolutionizes asset swaps by offering a platform where your liquidity is not idle, but actively earns yield by being ready for complex condition-based swaps. As a DEX with onchain order book, Mangrove gives liquidity providers the ability to create bids at a given price through arbitrary smart contracts. This innovative approach opens up extraordinary opportunities for liquidity management and optimization that you can now reLP.
Mangrove's order book-based DEX lists promises instead of locked commitments. Liquidity can be re Liquidity Provided on Mangrove, meaning it can be deployed, lent, ready to be borrowed somewhere and at the same time displayed on Mangrove. Its not locked in Mangrove, but rather ready to be sourced only when an offer is taken.
Smart contracts can be attached to offers, giving the maker complete freedom to customize the parameters of trading.
Possibilities of using smart offers
- Reactive liquidity: offer liquidity is not locked in the Mangrove order book. As long as an offer placed on Mangrove is not accepted, it can generate yield elsewhere on the chain.
- Last look: smart offers allow you to code defensive that adjust to changes in market conditions between the time the offer is placed and its execution.
- Bounty: every failed offer is compensated with a bounty; keeper bots can make money and takers lose nothing.
Membership in the DAO is represented by ownership of NFTs (ERC-721). There is a collection of NFTs for each of the governance groups.
Each member's NFT is managed by a TBA (ERC-6551), and this TBA in turn receives tokens to represent the member's attributes, such as its Activity Score (ERC-20, relevant only for Builders and Pods).
To allow members to retain their membership NFTs after leaving Mangrove, they model active membership by issuing an "Active Badge" token to TBA as part of a multi-token contract (ERC-1155); when a member leaves the group, the active badge is burned.
