Contango

Contango, a platform for building perpetual contracts through looping on money markets, has successfully raised $3 million in less than 4 hours. This rapid fundraising follows a series of impressive milestones: - Previously, the project surpassed $80 million in total volume - Top 50 users secured $100,000 in LAY3Rs tokens - Milestone 3 was achieved just two days after reaching Milestone 2 The quick succession of achievements demonstrates strong community support and growing interest in Contango's innovative approach to decentralized finance.

Contango has launched its $TANGO token sale on Fjord Foundry. Key details: - Fixed price of $0.045 per token ($45M valuation) - 7-day sale period from Oct 21-28 - First-come, first-served mechanism - No cliff or vesting on purchased tokens - Redeem button available 1 week after sale ends The sale aims to distribute tokens fairly, with no early unlocks from team/investors. An 80/20 Balancer pool will provide initial liquidity after the sale. Stakers can earn protocol fees, Balancer fees and BAL rewards. Traders will earn points redeemable for TANGO rewards. Full TANGOnomics details are available in Contango's Medium post.

Contango has announced its Token Generation Event (TGE), coinciding with a 12% market surge. This news follows a period of significant growth for the platform: - Total open interest up 324% - Trading volume increased by 394% - Notable growth in trades, traders, and TVL Contango's unique approach involves building perpetual contracts through looping on money markets. This method sources deep liquidity and produces more stable funding rates. The platform caters to various user types: - Advanced traders seeking size - Experienced loopers looking for better monitoring tools - Yield farmers targeting rewards on money markets For more information, visit contango.xyz.

Contango, a platform for trading perpetual futures, demonstrates impressive user retention and growth: - Open interest (OI) remains stable even after incentives end - Base chain saw 4x OI increase, maintaining $30M post-grant - Compound doubled OI on Arbitrum to $40M with $ARB rewards - Nearly 100 traders have +$1M in open interest These metrics indicate strong product-market fit for Contango. The platform's success in attracting and retaining large traders suggests growing trust in its services. For transparency, all stats are publicly available on Dune: https://dune.com/contango_xyz/contango-v2

Contango addresses concerns about potential sell pressure after the upcoming TANGO token sale: - The Fjord sale uses a fixed-price mechanism at $45M FDV ($0.045 per token) - Early users get oTANGO, an option token for discounted TANGO - oTANGO claimable after sale, can be sold for profit if price > $0.045 - Private investors and team have cliffs/vesting periods - No unlocking for at least 6 months after Balancer pool seeding This structure aims to minimize initial sell pressure while rewarding early adopters. The oTANGO mechanism in particular aligns incentives by only being profitable above the sale price.