Mars Protocol (MARS)

Basics

• Based in:
• Started in / Announced on: 20-4-2021
• Testnet release:
• Mainnet release:
• Interchain lending platform
• From the announcement (20-4-2021):

"It will be Terra's first-ever money market protocol… a place where users anywhere can lend and borrow any form of value."

• Not to be confused with Mars Ecosystem.

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Token Allocation

• From their blog (22-9-2021):

"In total, up to 2,500,000 MARS Tokens (2.5% of the total MARS circulation of 100,000,000) will be distributed to lockdrop participants."

Utility

• From their blog (22-9-2021):

"By staking Mars tokens in the Mars DAO (also known as the Martian Council) and receiving xMARS, community members assume part of the value and the risks of the Mars smart contracting system. xMARS rewards good governance with more governance power (additional MARS) and punishes poor governance with reduced governance power. Note that if the Mars smart contract system functions well, usage fees paid by users will accumulate, and MARS tokens will be automatically repurchased by the Mars smart contract system with these usage fees. If the Mars smart contract system does not function well, it may suffer shortfall events. In that case, staked MARS can be taken away from xMARS holders and given to users who suffered losses from the shortfall."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Terra

How it works

• From The Generalist (21-11-2021):

"Mars will offer new ways for lenders to receive interest on staked funds and open up assets to borrowers, both collateralized and uncollateralized. One of the Mars teams' major innovations is the introduction of "reactive interest rates," meaning yields will respond to market conditions."

Upgrades======Staking

• From their blog (22-9-2021):

"By staking Mars tokens in the Mars DAO (also known as the Martian Council) and receiving xMARS, community members assume part of the value and the risks of the Mars smart contracting system."

Roadmap

• Can be found [Insert link here].

Team, Funding, Partners

Team

• Full team can be found [here].
• From The Generalist (21-11-2021):

"Developed as part of a joint venture between Delphi Labs, IDEO CoLab, Terraform and others."