: Everyone can interact with the core protocol without having to ask permission nor risking to be censored. Mangrove is a DeFi protocol that autonomously runs on public blockchains. Accessing the core protocol shouldn’t be gated by anyone.

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As the first programmable exchange, Mangrove aims at leveraging any chain, asset, or protocol. Supporting new chains and new asset capabilities shouldn’t be constrained by anything but security considerations and implementation time. The protocol will remain agnostic regarding pre and post-transaction code injected by its users.

: Market making for the rest of us. Mangrove makes market making strategies accessible to the many, whereas they are today reserved to a select few with asymmetric access to capital, knowledge, computing and market information.

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: Mangrove is a new design space in DeFi.

The ability to execute arbitrary code as part of orders on a decentralized exchange opens up a brand new space for designing market strategies. Mangrove will facilitate the emergence and the curation of these new mechanisms. We will encourage educational activities so that anyone can learn how to navigate the Mangrove.

: No asset nor trading party should have an unfair advantage over others. Rules for transacting on Mangrove should be transparent and apply to all assets and all parties in the same way.

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: Checks and balances limit the power of token holders in the interest of the ecosystem. Decision making power over the protocol and the Mangrove economy remains distributed across the main stakeholders, plutocracy is reined in.

: The open and composable nature of the protocol makes its users potentially exposed to attacks. Mangrove will enforce the highest level of security both at the protocol - non-upgradable contracts, audits and bounties - and the dapp level, via governance-led permissions.