Daffy Durairaj - Co-Founder, Mango Markets Ep #53

<p>Daffy Durairaj is the co-founder of Mango Markets and is currently working full time as a developer in service of the Mango DAO.</p><p>00:28 - Origin Story</p><p>04:44 - Seeing the order book</p><p>10:20 - The idea behind creating Mango Markets</p><p>15:38 - Going from creating smart contracts to creating Mango</p><p>17:32 - How big is the DAO?</p><p>20:01 - The Launch</p><p>29:15 - VCs and the launch</p><p>32:43 - Decentralization and getting stuff done</p><p>34:55 - Will DAOs ever compete with big tech companies?</p><p>40:43 - What’s next for Mango Markets?</p><p> </p><p>Transcript:</p><p>Anatoly (00:09):</p><p>Hey folks, this is Anatoly and you're listening to the Solana Podcast, and today I have with me Daffy Durairaj, who is the co-founder of Mango Markets, so awesome to have you.</p><p>Daffy (00:20):</p><p>It's great to be here.</p><p>Anatoly (00:22):</p><p>So origin story, how'd you get into crypto? What made you build Mango Markets?</p><p>Daffy (00:30):</p><p>How did I get into crypto? So, I started off really not wanting to get into crypto. I was really interested in algorithm training. I did that in college and did some competitions that I did well in, and I wanted to trade equities, but it turns out if you have not enough money, if you have a few thousand dollars it's just not allowed. You're not allowed to algorithmically trade. There's a patent day trader rule, and I was infuriated and I was just looking around and I found Poloniex where you can do anything you want. The thing that actually hooked me first to Poloniex was the lending market because immediately as soon as I saw an open lending market, I was like, "Oh wow, I have to buy some bitcoin, and I have to lend it out." And, Poloniex was all bitcoin, and then it gradually got into just the meat of it, which was algorithmic trading and everything about crypto seemed exciting, but I actually didn't want to hold bitcoin. Poloniex was all bitcoin, but again, I think the government sort of pushed me in the right direction.</p><p>I was like, "Okay