💱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	78b8f4cGCwmZ9ysPFMWLaLTkkaYnUjwMJYStWe5RTSSX
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	7vfCXTUXx5WJV5JADk17DUJ4ksgau7utNKj4b963voxs
oracle	recommendation is that oracle should have at least 2 centralized exchanges with decent liquidity, and in total 4, data sources	JBu1AL4obBcCMqKBBxhpWCNUt136ijcuMZLFvTP7iWdB
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

• what does the distribution look like, solana offers an api for this, also, solscan shows the distribution e.g. MNGO, when the distribution is uneven, 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