Dear members of the DAO,
I’d like to propose a bold step forward. Mango has been incredibly successful in executing a vague roadmap, that was loosely defined as “let’s beat binance”.
The truth is that becoming the number one crypto exchange is a tricky battle that might take a while. The current contributors are well motivated, and new contributors are onboarded regularly. The core problem with our growth is that we can only grow so fast by extension on the surface.
One idea that has been proposed by different people in the DAO is that Mango can grow by acquiring whole teams that have:
a) a product on main-net and hence proven their ability to independently execute
b) not launched a token yet
Psy-Options is such a team. Since starting in the same hackathon, I have become intimately friendly with them, even more so after sharing a co-working in Lisbon. They have been building a product, hired liquidity providers and started to attract a few teams building structured products on top (Friktion, katana, tap & vovo) 2 of those won in the last ignition hackathon.
Their current team consists of the following members:
- Tommy: Full-time Senior Fullstack-Dev >5Y
- Taylor: Part-time Senior Front-End >5Y
- Jason: Senior Front-End Dev >15Y
- John: Protocol Dev, Ex Cyber-Security Professor >10Y
- Taylor-Wall: Part-time CM
- Stockmart: Full-time Shitposter https://twitter.com/stockmart_
I’d like to propose that we as the Mango DAO make the psy options team an offer:
Join the Mango DAO as a team of contributors, continue the development of the best options platform and most importantly work with the current contributors towards making Mango the best platform for traders, not limited to purely a close integration of the products.
In return they should receive an adequate grant, up for discussion, but let’s start with 100M MNGO locked for 5 years, that they can freely distribute between themselves. In addition they should receive up to $1.5M USDC for the next 12 months to continue paying salaries and grow their team.