💱New Token Listing
Intent of this page is to serve as a helpful guide to create proposals to list new tokens or edit parameters of existing tokens on mango V4.
Fields, notes, and some examples
| Field | Notes | e.g. |
|---|---|---|
group | 78b... is the primary group on mango-v4 | |
name | all caps, usually match the well known ticker/symbol on popular exchanges and coin trackers e.g. coingecko, if is a wrapped or a bridged token, then would be nice if the name reflects that | WETH |
mint | spl token mint | |
oracle | recommendation is that oracle should have at least 2 centralized exchanges with decent liquidity, and in total 4, data sources | |
confidence_filter | how much variation from true price should be tolerated | 0.1 i.e. 10% |
max_staleness_slots | price is considered valid when it is last udpated in <max_staleness_slots | 120 |
delay_interval_seconds | 60 * 60 | |
delay_growth_limit | 0.06 | |
stable_growth_limit | 0.0003 | |
adjustment_factor | 0.0004 | |
util0 | 0.7 | |
rate0 | 0.1 i.e. 10% | |
util1 | 0.85 | |
rate1 | 0.2 i.e. 20% | |
max_rate | 2 i.e. 200% | |
loan_origination_fee_rate | 0.0005 i.e. 5bps | |
loan_fee_rate | 0.005 i.e. 50 bps | |
maint_asset_weight | maintenance health contribution factor for deposits, is generally symmetric to maint_liab_weight on other side of 1 | 0.6 |
init_asset_weight | intial health contribution factor for deposits, is generally symmetric to maint_liab_weight on other side of 1 | 0.2 |
maint_liab_weight | maintenance health contribution for liabilities, usually indicates the amount of leverage an existing position can hold, e.g. 1 / (1.4 - 1) = 2.5x | 1.4 |
init_liab_weight | initial health contribution for liabilities, usually indicates the amount of leverage an new position can hold, e.g. 1 / (1.8 - 1) = 1.25x | 1.8 |
liquidation_fee | general rule of thumb - halfway between 1 and liab weights | 0.2 |
min_vault_to_deposits_ratio | fraction of deposits that must remain in the token's shared vault when borrowing | 0.2 |
net_borrow_limit_window_size_ts | 24 * 60 * 60 | |
net_borrow_limit_per_window_quote | 1M * 10^6, i.e. 1M$ | |
borrow_weight_scale_start_quote | This act as a soft limit for borrow, once the borrows on the bank exceed this quote value, init_liab_weight is scaled up. We currently set this and deposit_weight_scale_start_quote to the same value, the value is set to something what a liquidator can reasonably offload on chain immediately while staying within slippage lower than the liquidation fee | 1M * 10^6, i.e. 1M$ |
deposit_weight_scale_start_quote | This act as a soft limit for deposits, once the deposits ws on the bank exceed this quote value, init_asset_weight is scaled down. | 1M * 10^6, i.e. 1M$ |
In addition what is always useful is to know whether
the token has a mint and/or freeze authority, this can be checked on the mint's explorer page e.g. USDC, if either is set, this should negatively affect the collateral contribution of the token
how does the price impact look like for swapping in and out of the token, e.g. SOL-USDC, jupiter swap gives a decent indication of slippage incurred at a specific size
how much volume is generally traded for this token, solscan, openserum, jupiter, birdeye, all provide various levels of information on the traded volume
quality of the oracle e.g. pyth-SOL, switchboard-SOL, things to look out for are
quality and quantity of publishers
feed staleness
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