Mango Network is a Layer 1 blockchain project focused on building multi-VM (Multi-VM) full-chain infrastructure. According to the latest information, Mango Network announced the completion of a $13.5 million funding round in February 2025. This round was led by Kucoin Ventures and attracted the participation of several well-known investment institutions, including Ainfra Ventures, Tido Capital, Connectico Capital, Becker Ventures, Tfund, Mobile Capital, CatcherVC, and a family office from Hong Kong. This funding event demonstrates the capital market's recognition of Mango Network's vision and technological potential.
The funds will primarily be used for:
Mainnet Launch: Mango Network plans to launch its mainnet in Q1 2025, which will be a key milestone in the project's development.
Token Generation Event (TGE): The funding will support the issuance of the $MGO token, which is the native token of the Mango Network ecosystem, used for transaction fees, staking, and governance functions.
Ecosystem Development: Part of the funding will be used to support the growth of decentralized applications (dApps) and other projects built on Mango Network.
Community Expansion: By enhancing brand awareness and user engagement, further expanding the community size.
It is worth mentioning that Mango Network's testnet recently concluded, attracting over 700,000 users for testing and resulting in over 120 million ecosystem interactions. This data indicates that the project has established a certain user base and activity level during the testing phase, laying the groundwork for the subsequent mainnet launch.
Mango Network's Development Potential
Mango Network's development potential can be assessed from three aspects: technological innovation, market positioning, and industry trends:
1. Technological Innovation
Mango Network's core competitiveness lies in its multi-VM full-chain infrastructure design:
Multi-VM Support: It supports both EVM (Ethereum Virtual Machine) and MoveVM (the virtual machine for the high-performance programming language Move developed by Facebook's Libra team). This dual-VM architecture provides developers with greater flexibility to leverage Ethereum ecosystem tools while enjoying the security and performance advantages of the Move language.
High Performance: It is reported that Mango Network's transaction throughput can reach 297,450 TPS (transactions per second), with a transaction confirmation time of only 380 milliseconds. This performance metric is highly competitive among Layer 1 blockchains and can meet the demands of high-load Web3 applications.
Cross-chain Interoperability: Mango Network is committed to addressing user experience and liquidity fragmentation issues in the Web3 ecosystem, achieving seamless interaction between different blockchains through its Omni-Chain architecture. This design is expected to enhance liquidity and user convenience.
Security and Modularity: Based on the Move language's static type checking and resource-oriented programming, Mango Network has inherent advantages in smart contract security and asset management. Moreover, its modular blockchain design enhances scalability and deployment efficiency.
These technical features give Mango Network significant advantages in performance, security, and developer friendliness, attracting developers to build diverse dApps, such as decentralized exchanges (BeingDex), cross-chain token swaps (BeingSwap), and NFT platforms (BeingNFT).
2. Market Positioning
Mango Network positions itself as the next-generation Web3 infrastructure, aiming to support 1 billion users entering the Web3 ecosystem. This vision is highly aligned with the current trend of the blockchain industry moving towards mass adoption:
Web3 Pain Point Solver: Current Web3 applications face high cross-chain complexity, high transaction costs, and high development barriers. Mango Network directly addresses these needs through low Gas fees, high throughput, and simplified cross-chain operations.
Developer Ecosystem: By providing comprehensive documentation, funding programs, and technical support, Mango Network is building a developer-friendly platform. Additionally, its upcoming EVM compatibility will allow Ethereum developers to easily migrate dApps, further expanding the potential developer pool.
Industry Hotspot Alignment: Cross-chain interoperability and multi-VM infrastructure are hot narratives in the blockchain industry for 2024-2025, and Mango Network's technological roadmap is highly aligned with this trend, enhancing its market attractiveness.
3. Industry Trends and Competitive Landscape
The blockchain industry is in a stage of transitioning from isolated networks to interconnected ecosystems. According to market observations:
Funding Environment: The $13.5 million funding amount is considered medium to large among Layer 1 projects, indicating investor confidence in its potential. However, compared to some leading Layer 1 projects (such as Solana, Aptos, etc.) that have raised hundreds of millions, Mango Network's funding size still appears conservative, and it may need more resources in the future to compete.
Competitive Pressure: Mango Network's direct competitors include other high-performance Layer 1 blockchains (such as Solana, Aptos, Sui) and cross-chain solutions (such as Polkadot, Cosmos). Its unique advantages in Multi-VM and the Move language may become key differentiators, but it needs to accelerate its efforts in ecosystem building and user acquisition.
Airdrop and Community Incentives: Mango Network has confirmed that 10% of the total token supply will be used for airdrops, covering testnet and mainnet activities. This strategy is well-received in the crypto community and helps quickly attract users and enhance token liquidity.
Comprehensive Assessment of Development Potential
Mango Network's development potential is considerable, especially in the following aspects:
Short-term Potential: With the mainnet and TGE approaching (expected in Q1 2025), the project may experience a wave of attention, especially driven by airdrop and exchange partnership activities.
Mid-term Potential: If Mango Network can deliver on its performance promises and attract a sufficient number of dApps developers, its ecosystem may rapidly expand and become a leading player in the cross-chain space.
Long-term Potential: Achieving the vision of 'supporting 1 billion users' requires overcoming multiple challenges including technical scalability, market education, and regulation, but its technological foundation and market positioning provide a good starting point.
Summary
Mango Network's funding situation reflects investors' optimism about its technology and vision, with $13.5 million in funding providing solid support for its mainnet launch and early development. From a development potential perspective, its technological innovations (multi-VM, high performance, cross-chain capabilities) and market positioning (Web3 infrastructure) give it a foothold in the competitive blockchain industry. However, the key to success lies in whether it can quickly establish a developer ecosystem, deliver on performance promises, and stand out in competition. For users or investors interested in the project, participating in community activities (such as potential airdrop opportunities after the testnet) or closely following mainnet progress may be a good choice.
