Mangrove

Mangrove is a decentralized exchange (DEX) built on an on-chain order book model that allows liquidity providers (LPs) to post arbitrary smart contracts, called offers, as liquidity. Unlike traditional DEXs that lock liquidity, Mangrove enables LPs to keep their liquidity unlocked and usable elsewhere until an offer is matched. This design allows users to restake liquidity held on other protocols, amplifying yield by simultaneously earning from multiple sources such as spreads, rewards, and external DeFi yields.

The protocol supports composable and customizable market making strategies. Developers can deploy their own trading strategies or use Mangrove’s open-source strategy library to automate market making and optimize liquidity yields. Mangrove’s first automated market maker (AMM), Kandel, offers granular control inspired by grid trading strategies, enabling more precise spread trading for profit.

Mangrove targets DeFi developers and infrastructure teams looking to build advanced trading and liquidity provision tools without locking capital. Its open-source SDK and comprehensive developer documentation facilitate integration and strategy development. The protocol has been audited by leading security firms, emphasizing safety and transparency. Users can trade, swap, place limit orders, and run automated strategies while earning yield from multiple DeFi sources.

To get started, developers can explore Mangrove’s SDK, deploy custom offers, or integrate existing strategies from the GitHub library. The protocol’s composability and flexibility make it suitable for building new financial products, yield farming opportunities, and advanced trading tools that leverage unlocked liquidity across DeFi ecosystems.