Contango
Arbitrum One$TANGO
![](https://miro.medium.com/v2/resize:fit:4800/format:webp/1*ASpXahRf23B9W229FA1DeQ.png) ## The TANGO sale Some unique aspects that you should bear in mind: - Contango raised $4.5M at $45M valuation in 2021 from 40+ notable investors such as Parafi, Coinbase Ventures and Spartan - Up to $3M TANGO will be up for grabs, at $0.045 per token, with no cliff and vesting. This corresponds to a fully diluted valuation of $45M. - The airdrop to early users happens through the [oTANGO mechanism](https://medium.com/contango-xyz/the-otango-airdrop-0c94b2822498), which offers a 0% discount to users selling it under a $45M valuation (a token price of $0.045). - There’ll be no unlock at TGE from the Contango team, nor from seed investors. This means that, as an investor, you get access to the same valuation as the seed round, and after the sale there’s no added selling pressure coming from other players. ## What is Contango? Contango is a DeFi protocol that lets you [loop](https://medium.com/contango-xyz/what-is-looping-78421c8a1367) anything on-chain. You can: - Lever up on the yield of liquid staking and restaking assets, such as stETH or eBTC. - Lever up on the fixed yield of Pendle's PTs. - Create leveraged positions similar to perps, but with the [cheapest funding](https://medium.com/contango-xyz/why-you-should-trade-on-leverage-using-money-markets-93b988fc69ec) in crypto. - Arbitrage rate differentials on stablecoins. - Farm rewards, airdrops, and points on leverage. Since launching Contango v2 in October 2023, the protocol has experienced exponential growth. Contango volumes have passed the $3.5B mark, and Open Interest (OI) recently touched all-time highs at $350M. Unique users have grown to 17,000. You can find all stats on [Dune](https://dune.com/contango_xyz/contango-v2). ⠀ ![](https://miro.medium.com/v2/resize:fit:720/format:webp/1*aVa-VpilhZtXr4pNMQ5PKg.png) ⠀ The total OI of money markets and CDPs currently sits around $40B ([source](https://defillama.com/protocols/lending)). If only 30% of this number is due to looping (Morpho’s argued it was [64%](https://medium.com/@aleno.ai/the-power-of-customer-data-analytics-morphos-example-bede261147b2)!), then looping OI is at least $12B. Our current metrics show that volume/year is at least 10x bigger than OI, hence Contango is well-positioned to go after a whopping +$100B/year market. ## TANGOnomics TANGO is Contango’s utility token, with a total supply of 1,000,000,000 and represents the centerpiece of the protocol’s tokenomics, aka TANGOnomics. The TANGO allocation and the unlocking schedule are as follows. ⠀ ![](https://miro.medium.com/v2/resize:fit:720/format:webp/0*cT65Egm1N7oSJhii) ⠀ ![](https://cdn-images-1.medium.com/v2/resize:fit:800/1*QZG_lpDxQSGw-LJXW0e_NQ.png) ⠀ TANGOnomics initially aims at deepening TANGO liquidity and incentivizing growth by rewarding both stakers and traders, the main players of the Contango ecosystem: 1. Stakers can provide liquidity on the TANGO/ETH Balancer pool and lock LP tokens on Contango, to be rewarded with 100% of protocol fees as well as Balancer trading fees and BAL incentives. 2. Traders accrue points when trading on Contango, which entitles them to a share of TANGO rewards, up to 2% of the total supply per year. We encourage you to read the full TANGOnomics [here](https://medium.com/contango-xyz/the-otango-airdrop-0c94b2822498 ). ## Roadmap Contango v2 found a clear market fit, reaching impressive growth in less than a year. A lot of this success is attributed to loops where price discovery occurs on-chain, such as ETH derivatives and USD derivatives. An even bigger market exists for loops where price discovery occurs off-chain and where DeFi traders get a worse spot price compared to CeFi. You can find more information in our freshly released Contango v3 [whitepaper](https://contango.xyz/contango-v3-whitepaper.pdf). In 2025, we’ll also focus on developing a fully non-custodial version of Contango, where funds are not held in Contango proxies. This will mean that Contango core contracts could be used by traders to only open, modify and close positions. ![](https://cdn-images-1.medium.com/v2/resize:fit:800/0*r7W1rtjyhx9gbBY0) ## Useful links Make sure to follow Contango on [Twitter](https://x.com/Contango_xyz) to get the latest on the upcoming sale. You can see our deck [here](https://drive.google.com/file/d/1YvvWUhjeA1cmxTjo_RqqJ244CdTjw0Mx/view?usp=sharing). Media: [Messari Q3 report on Contango](https://messari.io/report/contango-q3-2024-brief) [Delphi Digital report on Contango](https://x.com/Delphi_Digital/status/1797990901370818729) [Coindesk coverage of v1](https://www.coindesk.com/markets/2022/07/14/dex-contango-pushes-retro-alternative-to-perps-with-expirable-futures/)
Sale Type
Fixed Price
Launch Partner
Jiraiya
LP Lock
None
Raise Type
Public
Completed
Current Price
45K
FDV
3.0M
Funds Raised
3.06M
Unique Wallets
698
100.0%
SOLD
Tokens sold
66.71M / 66.67M TANGO
Hard cap0.0%
3.06M3.0T USDC
Sale Activity
No swaps occurred during this sale period.
About Project
The TANGO sale
Some unique aspects that you should bear in mind:
  • Contango raised $4.5M at $45M valuation in 2021 from 40+ notable investors such as Parafi, Coinbase Ventures and Spartan
  • Up to $3M TANGO will be up for grabs, at $0.045 per token, with no cliff and vesting. This corresponds to a fully diluted valuation of $45M.
  • The airdrop to early users happens through the oTANGO mechanism, which offers a 0% discount to users selling it under a $45M valuation (a token price of $0.045).
  • There’ll be no unlock at TGE from the Contango team, nor from seed investors.
This means that, as an investor, you get access to the same valuation as the seed round, and after the sale there’s no added selling pressure coming from other players.
What is Contango?
Contango is a DeFi protocol that lets you loop anything on-chain. You can:
  • Lever up on the yield of liquid staking and restaking assets, such as stETH or eBTC.
  • Lever up on the fixed yield of Pendle's PTs.
  • Create leveraged positions similar to perps, but with the cheapest funding in crypto.
  • Arbitrage rate differentials on stablecoins.
  • Farm rewards, airdrops, and points on leverage.
Since launching Contango v2 in October 2023, the protocol has experienced exponential growth. Contango volumes have passed the $3.5B mark, and Open Interest (OI) recently touched all-time highs at $350M. Unique users have grown to 17,000. You can find all stats on Dune.
⠀
⠀
The total OI of money markets and CDPs currently sits around $40B (source). If only 30% of this number is due to looping (Morpho’s argued it was 64%!), then looping OI is at least $12B. Our current metrics show that volume/year is at least 10x bigger than OI, hence Contango is well-positioned to go after a whopping +$100B/year market.
TANGOnomics
TANGO is Contango’s utility token, with a total supply of 1,000,000,000 and represents the centerpiece of the protocol’s tokenomics, aka TANGOnomics.
The TANGO allocation and the unlocking schedule are as follows.
⠀
⠀
⠀
TANGOnomics initially aims at deepening TANGO liquidity and incentivizing growth by rewarding both stakers and traders, the main players of the Contango ecosystem:
  1. Stakers can provide liquidity on the TANGO/ETH Balancer pool and lock LP tokens on Contango, to be rewarded with 100% of protocol fees as well as Balancer trading fees and BAL incentives.
  2. Traders accrue points when trading on Contango, which entitles them to a share of TANGO rewards, up to 2% of the total supply per year. We encourage you to read the full TANGOnomics here.
Roadmap
Contango v2 found a clear market fit, reaching impressive growth in less than a year. A lot of this success is attributed to loops where price discovery occurs on-chain, such as ETH derivatives and USD derivatives. An even bigger market exists for loops where price discovery occurs off-chain and where DeFi traders get a worse spot price compared to CeFi. You can find more information in our freshly released Contango v3 whitepaper.
In 2025, we’ll also focus on developing a fully non-custodial version of Contango, where funds are not held in Contango proxies. This will mean that Contango core contracts could be used by traders to only open, modify and close positions.
Useful links
Make sure to follow Contango on Twitter to get the latest on the upcoming sale.
You can see our deck here.
Media:
Messari Q3 report on Contango
Delphi Digital report on Contango
Coindesk coverage of v1
Sale Details
Fixed Price
Start Price Per Token
45K USDC
Min Raise(Soft Cap)
0 USDC
Max Raise(Hard Cap)
3.0T USDC
If the project doesn’t exceed its Min Raise Cap, all investors will automatically receive a full refund.
Sale Network:
Arbitrum One
Raise Type
public
Token Type
ERC-20
Learn more about sale types and financial data in our Fjord Docs
Public Sale Duration
The Public Sale may start earlier if the previous stages finish ahead of schedule. However, it will always end at the set final date and time.
Expected Start Date:
Oct 21, 2024, 12:00 PM UTC
Duration
7 days 1 hour
End Date
Oct 28, 2024, 1:00 PM UTC
Launch Partner Review
Launch partners enhance Fjord project launches by reviewing projects to meet personal standards, setting parameters to protect all parties' interests (e.g., liquidity locks, token vesting, funding caps), and providing marketing support (if applicable). Always DYOR and verify info.
Launch Partner
Jiraiya
I've had the privilege of meeting the Contango team several times in person, and I've seen firsthand the potential they hold. After hours of conversation, it was clear from their vision and drive that "these guys are going to make it." The truth is, they're already doing it. Their metrics speak for themselves, outperforming market downturns, and with V3, they're set to expand even further. It takes a special kind of founder to thrive without competition and still push for the next level. The value they're creating is flowing straight to token holders, and I couldn't be more confident in supporting them as they launch $TANGO.
Jiraiya
Did project provide KYC to Launch Partner?
Yes
Post Sale Details
Token Vesting
No Token Vesting
LP Lock
Locks the sale’s liquidity after the sale to guarantee ongoing trading and prevent sudden withdrawals.
No LP Lock
Token Redemption
Redemption Opens
Mon 28, 2024, 1:00 PM UTC
Previous Investment Rounds
Review key information from prior fundraising rounds, including funds raised, valuations, TGE percentages, and vesting periods, to gain a clear financial snapshot of the project's journey. Please verify all information independently and do your own research (DYOR).
No Previous Investment Round Details
FAQ
Connect your wallet, review the sale details, then choose the token and amount you want to contribute. If approval is required, approve the spending limit first, then confirm the purchase in your wallet.
Sale tokens are normally claimed after the sale closes. If the project configured a claim delay or token vesting, the sale page will show the timing and claim options.