According to the Gate News bot message, the official announcement from Gate on June 23, 2025:
Gate will launch Mango Network (MGO) spot trading on June 24, 2025, at 17:00 (UTC+8), opening the MGO/USDT trading pair. At the same time, the platform will launch the MGO token mining activity, which will run from June 23, 2025, at 20:00 to July 7, 2025, at 20:00 (UTC+8), with a total release of 16,400,000 MGO token rewards.
Mango Network is a Layer 1 full-chain multi-virtual machine infrastructure that integrates Move, OPStack, and ZK Rollup technologies, supporting interoperability between MoveVM, EVM, and SVM multiple virtual machines. The project aims to address the fragmented user experience and liquidity issues in Web3 applications and DeFi protocols. The total supply of MGO tokens is 1 billion, of which 15% is used for fundraising sales, 15% is allocated to the team, and 20% belongs to the foundation.
Users can participate in Launchpool mining activities by staking ETH or MGO, and the system will distribute token rewards hourly based on the user's staking proportion. VIP5 and above users can enjoy a maximum staking quota bonus of 500%.
