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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 and quantity of publishers
- feed staleness