Contango (TANGO)ICO IDO Contango is a non-custodial exchange offering expirable futures without order books or liquidity pools. When a trader opens a position, the protocol borrows on the fixed-rate market, swaps on the spot market, then lends back on the fixed-rate market. Contango offers physical delivery and a minimal price impact for larger trades. Seed Round $4M IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice. |
Overview
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What is Contango
Contango is going to offer expirable futures without order books or liquidity pools. When a trader opens a position, the protocol borrows on the fixed-rate market, swaps on the spot market, then lends back on the fixed-rate market.
By taking advantage of liquidity pools of underlying fixed-rate markets, Contango is able to offer the same order of magnitude of liquidity and price impact as major centralized exchanges.
Contango main features
- Linear and inverse contracts:Choose between linear and inverse contracts, pick an expiry date, define leverage and forget about the unpredictable costs of funding rates.
- Synthetic futures:Contango borrows on the fixed-rate market, swaps on the spot market, and lends back on the fixed rate market to replicate the cash flow of a futures position.
- Minimal price impact:Contango doesn’t need its own liquidity pool. Instead, it takes advantage of the deep liquidity pools of underlying protocols to offer a minimal price impact for any trade size.
- DeFi composability:Every position is tokenized as an NFT enabling other projects to easily build on top of Contango.
- Physical delivery:At expiry, Contango directly delivers you the asset for the price set when the position was opened, thus eliminating risks associated with index price manipulation.
DetailsIDO (Fjord Foundry): Oct 21, 2024 - Oct 28, 2024Pre-sale token supply: 107,222,222 TANGO Token supply: 1,000,000,000 TANGO Total tokens for sale: 66,666,667 TANGO Raised: 4,000,000 USD LegalRegistration year: 2021 | Token infoTicker: TANGOType: Utility-token Token price in USD: 1 TANGO = 0.045 USD Token distribution: 2,5% - Pre-Seed 8,2% - Seed 27,1% - Team 62,2% - Treasury |