Today we are here with Mars Ecosystem, the 1st stablecoin Defi Ecosystem. In September, Mars Ecosystem has just launched its own Farms/Pools and the TVL reached 180M＄within 3 weeks, at the same time maintaining APR up to 1600+%. You can see all the information on their website.
Q1
BTS Labs: Can you please introduce yourself and your background, also introduce the team working on Mars Ecosystem?
Dr.Marvin (Mars Ecosystem Chinese Captain): Hello, guys! I am Dr. Marvin. I’m the first aboriginal on Mars and one of the ambassadors of Mars Ecosystem. And I will be your guide and friend along the journey to Mars.
And yes, I am quite familiar with the Mars team. They are amazing people. Maybe a bit crazy, but very talented, I promise. Mars Ecosystem team members are all early practitioners of the Internet and Blockchain with an especially strong background in finance. Graduated from prestigious universities such as Stanford University. The team has many years of cross-terminal capabilities, financial background and mature Defi industry experience. The most important is that they all have firm beliefs and great visions for blockchain technology and Defi!
Q2
BTS Labs: I heard that many investment institutions have already invested in Mars Ecosystem. Can you tell us, so far, which institutions have invested?
Dr.Marvin (Mars Ecosystem Chinese Captain): Yes! Mars Ecosystem has successfully raised $2 million in seed funding. The round attracted investment from several major blockchain funds, including Continue Capital, Parallel Ventures, Kernel Ventures, and YBB Foundation, among others. All these investment institutions, including Continue Capital, have a deep understanding in the field of decentralized stablecoins. We are so glad to have their trust and support.
Q3
BTS Labs: Can you introduce the main products of Mars Ecosystem?
Dr.Marvin (Mars Ecosystem Chinese Captain): Mars Ecosystem aims to overcome all the challenges of decentralized stablecoins with a stablecoin system offering high price stability, scalability, and a high degree of decentralization.
Mars Ecosystem consists of three parts: Mars Treasury, Mars Stablecoin and Mars DeFi protocols. It integrates the creation and use of stablecoin into the same system.
Here I want to emphasize one point, which I believe is also the concern of most users today:
We launched yield farming in September. The revenue of Mars Ecosystem comes from Interest generated by asset which has been staked on Mars platform by our users and Swap transaction fees.
And our team firmly believes that users are the foundation of project development.
Therefore，We currently rewards XMS stakers in the form of BTC, BNB, ETH, CAKE with 90% of the income via the XMS staking Pool, and 10% of the remaining income goes to DAO Treasury to support the development of the project and its MKT.
The goal of Mars Ecosystem is to build the central bank and reserve currency of the DeFi world. The MarsDAO and Mars Community work together to bring Financial Stability and Transparency to the world economy, and even further…
Q4
BTS Labs: There are already many stablecoin protocols in the market. Why do we need another stablecoin protocol?
Dr.Marvin (Mars Ecosystem Chinese Captain): Mars Ecosystem was founded in the belief that decentralized stablecoins represent the long-term future of the crypto dollar over-centralized and regulated alternatives. However,
various stablecoin protocols face trade-offs in terms of price stability, degree of decentralization, and scalability. And there are also two fundamental problems in common: one is the positive externality problem, and the other is the integration problem.
Mars Ecosystem aims to overcome these challenges with a stablecoin system offering high price stability, scalability, and a high degree of decentralization.
The mechanism design of Mars Ecosystem considers all these goals and questions and gives a new answer. This new mechanism has the potential to become the new leader in the stablecoin market.
Q5
BTS Labs: Can you tell us about your Farms/Pools?
Dr.Marvin (Mars Ecosystem Chinese Captain): On the 1st Sep., we launched successfully Mars Farms/Pools. We designed a new economic mechanism for the farms/pools to make them more sustainable, and the APR is relatively high compared with many other well-known projects. In this way, users can get higher profits in a long-term period. Beside XMS holders, Cake holders & PancakeSwap LP tokens holders can also earn XMS with up to 1600+% APR!
And in September, we also launched XMS-BNB & XMS-BTC & XMS-ETH single token pools. Now users can stake their XMS to earn BNB/BTC/ETH with a 600+% APR, no vesting, receive rewards in BTC/BNB/ETH instantly.
At present, the APR for staking #CAKE to earn XMS is 650+%, and staking XMS to earn CAKE is also 650+%, which means that 🥞CAKE holders can earn XMS can use these free XMS to earn CAKE again. It is absolutely much more profitable than stake CAKE earn CAKE on the PancakeSwap with ~61% APR.
Q6
BTS Labs: Why do we need a vesting schedule?
Dr.Marvin (Mars Ecosystem Chinese Captain): Mars Ecosystem understands that community support is a key factor in determining whether Mars Ecosystem’s grand vision can be realized. According to this concept, we provided the early hitchhikers of the Mars community with better terms than the VCs and Institutions in our IMO in June (and the participants are already enjoying the profits. Thanks and cheers). Also according to this concept, 65% of the total supply of XMS will be distributed to the community in the form of community incentives.
For the success of the project, the Mars team, the institutional investors and the IMO participants choose to lock XMS for a long time:
1) The Mars team’s XMS tokens will be released linearly for 36 months, starting from Genesis Launch (After a month or so).
2) The institutional investors’ XMS tokens will be released linearly for 18 months, starting from Genesis Launch (After a month or so).
3) IMO participants’ tokens are released linearly for 6 months, starting on June 15th.
In line with the same goal to onboard long-term supporters of the Mars Ecosystem, the XMS rewards earned by users in Farms & Pools will be released linearly within 6 months (released every 3 days after the user Harvest). We hope that through this design, XMS tokens can be distributed to the true long-term supporters of the Mars Ecosystem in a sustainable way.
It is worth mentioning that the lock-up actually helped our IMO users to hold the XMS tokens, and many users already achieved a return of more than 15 times.
But, users can claim the BNB/BTC/ETH/CAKE/KALA rewards directly and instantly without vesting!
Q7
BTS Labs: Innovation in DeFi often means risk, how does Mars Ecosystem deal with potential risks?
Dr.Marvin (Mars Ecosystem Chinese Captain): As we promised, ensuring the safety of user assets is our top priority.
We attach great importance to the attack vectors that our innovation may bring, and for this we have conducted a lot of tests.
First of all, our smart contracts are audited by the best security auditors in the world: Certik and SlowMist.
Certik and Slowmist Audit Reports of Mars Ecosystem are already out, you can check on our website.
Besides, Mars Ecosystem launched a bug bounty program on Immunefi, DeFi’s leading bug bounty platform. The Bug Bounty is LIVE.
Zap those bugs and get bug bounty hunting, & you can earn yourself $60,000!
Q8
BTS Labs: How is the progress of the Mars Ecosystem project? Can you share the roadmap?
Dr.Marvin (Mars Ecosystem Chinese Captain): Yes, On 14th-15th June, we successfully finished IMO and IDO on Mars Ecosystem & BakerySwap & Helmet.insure to distribute our token to early supporters. Now users can trade on MarsSwap and XMS holders can stake their XMS at our Pools to earn BTC/ETH/BNB/CAKE: https://app.marsecosystem.com
On the 1st Sep., we launched successfully Mars Farms/Pools. Users can get higher profits in a long-term period. Beside XMS holders, Cake holders & PancakeSwap LP tokens holders can also earn XMS with high APR! And we will keep adding more pools/farms, so please stay tuned!
Starting from the launch of Farms/Pools, we will cooperate with BSC’s major DeFi protocol such as DEX, lending protocols, leveraged mining protocols, etc.
In October, Mars Ecosystem will launch our Stablecoin with a 🚀”Genesis Launch” event. Users can mint USDM and earn XMS rewards.
Next, we will release more DeFi protocols through investment, incubation, and joint development to jointly empower Mars Ecosystem. In Q4 of 2021, we plan to release the yield aggregator module and develop our Launchpad platform at the same time.
In Q1 of 2022, we plan to implement the function of stablecoins’ mintage on other public chains to expand our protocol.
All the above plans will empower and add value to our governance token $XMS.
Q9
BTS Labs: Okay, here comes the question of our users’ most concern today. We heard that Mars Ecosystem is going to cooperate with Helmet in farms/pools. Can you tell us more details about it?
Dr.Marvin (Mars Ecosystem Chinese Captain): Yes! We successfully cooperated with Helmet at IDO, and now we are so glad to cooperate with Helmet again.
On 27th, September, we will launch a Stake $XMS earn $HELMET Pool, which will be available for a month.
And, we will launch a farm: stake HELMET/BNB LP token to earn $XMS, and the mining rewards for the first 2 months will be particularly generous.
In the future, Mars Ecosystem will have more cooperation in different aspects with Helmet, so please stay tuned!
Q10
BTS Labs: Does MARS Ecosystem have any specific plans to attract user from all over the world?
Dr.Marvin (Mars Ecosystem Chinese Captain): First of all, both our team and our investors attach great importance to the long-term development of our community.
To spread awareness, of course we will collaborate with local KOL and communities to make sure that everyone learns and knows about us.
Yes, we have localized our community to each region or language so we can easily support our community in various regions.
In the future, everyone who owns the community governance token XMS can become a member of MarsDAO, and participate in the governance of the community with the spirit of exploring outwards. At the same time, we welcome users with Defi experience from all over the world to become our captain and build the MARS community together. We have prepared rewards for those active users in our community, such as token airdrop and special NFTs! If you’re interested in becoming a captain, please check on our website.
Great things are on the horizon and together we will build a New Decentralized Stablecoin Era!
Free Questions
Q1
BTS Labs Community：I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, do you have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?
Dr.Marvin (Mars Ecosystem Chinese Captain): You’re most welcome in Mars Ecosystem. Mars Ecosystem launched a bug bounty program on Immunefi, DeFi’s leading bug bounty platform.
Zap those bugs and get bug bounty hunting, & you can earn yourself $60,000!
Q2
BTS Labs Community：#MARS have some NFTs. So give some details about your NFTs . Can we use Mars NFTs for playing the Mars games. Can we stake Mars NFTs for earm some Mars token/coin??
Dr.Marvin (Mars Ecosystem Chinese Captain): Mars Ecosystem will select a certain number of users from those who have contributed to the community to airdrop our limited Boarding Pass NFT or Captain NFT of our first Spacecraft. Those who get it will join the Mars Ecosystem on the Genesis Spacecraft 1 and jointly create our MarsDao community.
As the first aboriginal on Mars and one of the ambassadors of Mars Ecosystem, I also have one special mission :
Airdrop & sell more NFTs to users who follow Mars Ecosystem, including Mars equipment, spacecraft, oxygen cylinders, towels, speakers, skateboards, etc…. and directly reward XMS.
In the future, Mars Ecosystem will also empower different levels of NFT, so stay tuned!
Q3
BTS Labs Community：Do you have any token burning plan? If yes, please kindly share with us.
Dr.Marvin (Mars Ecosystem Chinese Captain): First of all, we will buy back XMS tokens via transaction fee.
In the future we will burn our tokens to reduce the total supply.
Q4
Mars Ecosystem Community：What are the background and the purposes you made Mars Ecosystem?
Dr.Marvin (Mars Ecosystem Chinese Captain): Mars Ecosystem is a new decentralized Stablecoin paradigm proposed by our team after long-term research on DeFi, especially after studying many Stablecoin protocols. Why do we propose a new Stablecoin paradigm? That’s because we see that all decentralized Stablecoin protocols in the market have some fundamental problems. If these problems are not solved, it will be very difficult for the decentralized Stablecoin protocol to replace the centralized Stablecoin protocol, and to occupy the trillions of market space. The goal of Mars Ecosystem is to build the central bank and reserve currency of the DeFi world.
Q5
Mars Ecosystem Community：What are the Unique innovations do you have in Mars Ecosystem？
Dr.Marvin (Mars Ecosystem Chinese Captain): First of all, in order to be widely accepted and used by DeFi users, a decentralized stablecoin protocol must have at least the following properties: High price stability, High degree of decentralization, High scalability. But there is no decentralized stablecoin protocol that can satisfy all of these properties at the same time!
To solve all these problems, Mars Ecosystem has made the following unique innovations :
-Treasury assets classification mechanism
-Mintage control mechanism
-Anti-“bank run” mechanism
-The integration of DeFi protocols and stablecoin into the same system.
These innovations give Mars Ecosystem the characteristics of high price stability, high degree of decentralization, and high scalability. And can guarantee the USDM price at $1 under normal market fluctuations and even deal with various extreme situations such as the large-scale sell-off of stablecoins in a short period.
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