This first issue of Tangomango opens with an unknown man acting as a narrator to introduce the reader to the region of Eaux Tièdes (Mild Waters) and give a brief history of piracy. It is the year 982, ten years after the new governor Poupo Mongrovejo came into power and nearly eradicated all pirates in the region, his crusade culminating in the defeat of Auralis, the "last great pirate."
The characters Black Ink and Elaine Narrowsmith are first reintroduced after their original (but chronologically subsequent) appearance in the series Wakfu as they work on refurbishing an abandoned ship, hoping to become real pirates. Without money or a crew, however, it is a long and difficult project for a single squid and his adoptive human daughter.
Besides the two pirates' efforts to gather parts and currency, the book establishes the characters of Chuck, Don and Gus, three penguins who serve in Mongrovejo's ranks as he burns down several islands looking to eliminate all surviving pirates, but also locate a very important amulet. This is all they know of his motivations, but when they locate said amulet by chance in a cave on the verge of collapse, the three accomplices decide to keep it for themselves and sell it to Mongrovejo instead, and only after they've found out its true value. With that money, they intend to open their dream restaurant in the capital Nao la Grande.
Lastly, the reader is introduced to the Vovodouns, powerful beings that are linked to ancient Sadida amulets and forced to obey whoever possesses them. Poupo Mongrovejo already owns three of them (Filo, Salamander and Silver), which he used to hunt down pirates and quickly dispose of most of them ten years ago. He is still looking for the remaining three, and despite his aversion to black magic, he finally decides to use their power again and send them after the remaining amulets. His ultimate goal, he says, is to finally cleanse the Eaux Tièdes of pirates and any form of crime, and make it a respectable place to live.
With all pieces in place, the book closes on the narrator, who is now on a small boat alongside a mysterious cloaked figure. The two of them discuss a resurgence of pirates, who will soon be seen again in the Eaux Tièdes...