we hosted an amazing AMA with Mars Ecosystem on the 4th of September
And here we will put some of the best questions:
Q1: Can you introduce yourself as well as introduce Mars Ecosystem so that the community can better understand?
This is Sarath,I am the Overseas Community Manager of Mars Ecosystem,I will be managing the community of Mars Ecosystem Telegram and Discord Channels
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, decentralized stablecoins, even the most successful ones such as DAI, suffer from issues such as low capital utilization and scalability as a result of requiring over-collateralization.
Mars Ecosystem is a new decentralized stablecoin paradigm. Its goal is to propose a stablecoin system that can solve the positive externality problem and the integration problem, and has the characteristics of high price stability, high degree of decentralization, and high scalability. 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
Q2: Can you tell us more about how Mars Ecosystem works?
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 :
1.Treasury assets classification mechanism
2.Mintage control mechanism
3.Anti-“bank run” mechanism
4.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.
Q3 : Can you share the achievements that the team has achieved so far?
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 start to stake their XMS to earn at MarsSwap: https://app.marsecosystem.com
On September 1st,We have launched Mars Farms/Pools. We designed a new economic mechanism for the farms/pools to make them more sustainable, and the APR will be relatively high compared with some other well-known projects. In this way, users can get higher profits in a long-term period. Besides XMS holders, Cake holders & PancakeSwap LP tokens holders can also earn XMS with high APR!
📣 Trend of the week
The best-performed BSC Tokens this week are:
Let’s hit $0.3! 🔥🔥🔥
Q4 : As far as I know Mars Ecosystem Our Farms/Pools just launched on 1st Sep, so can you detail the rewards and bets, how is the APR calculated?
As the world’s first stablecoin Defi ecosystem, we are excited to announce our new Farms & Pools to incentivize the participants in the Mars Ecosystem protocols. The details are as follows:
Our Farms & Pools are designed with a unique mechanism to include both Mars ecosystem and other BSC communities. The DeFi token holders and the LP token holders of other protocols can all enjoy the high and sustainable yields with security in our Farms & Pools
XMS token distribution attaches great importance to the community, and 65% of the total supply will be distributed to the community in the form of mining rewards. The mining rewards for the first month are particularly generous.
In the Single Token Pools, users can stake CAKE and XMS to earn XMS. The old XMS staking Pool will be deprecated. To participate in the new pools, users who have staked in the old XMS staking Pool have to unstake their XMS tokens on the Claim page of the DAPP website and stake on the Pools page.
Our Farms are designed for liquidity providers to earn mining rewards. It will include both MarsSwap LP tokens and PancakeSwap LP tokens.
Specifically, in addition to the XMS-BNB LP token on MarsSwap, the CAKE-BNB, BUSD-BNB, USDT-BNB, BTCB-BNB, ETH-BNB, BTCB-BUSD, CAKE-USDT and CAKE-BUSD LP tokens on PancakeSwap are also included.
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.
Users now can participate in our Mars Farms/Pool by using these links with High APR
The TVL is also close to $70Million
Q5: Security is very important for every project, so can you tell us a little bit about Mars Ecosystem security?
Unlike many platforms which are releasing ‘beta’ versions with simple ‘invest at your own risk’ warnings. We had all contracts fully audited by both SlowMist and CertiK.
Here are the links to the audit reports：
This week, we will also cooperate with Immunefi, a well-known bug bounty organization, and we will provide generous bonuses to launch the Bug bounty program.
And here we will put best questions from our members and Mars Ecosystem fans:
Q1) I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?
At Mars Ecosystem, we want to make blockchain totally inclusive and interoperable. So we welcome users with or without Defi experience from all over the world to become our Captain and build the MARS community together. Anyone who is interested in our project can apply to become one of our Captains, and earn rewards by contributing to our community!
Those who are interested to become one of the Ambassador of Mars Ecosystem,
Please fill out this form, Our team will get in touch with you soon https://docs.google.com/forms/d/e/1FAIpQLSdM5ZFCeR39og61GHdAUCedKtB16jnusUfv6-WSaHK254Ch6A/viewform
Q2) As a new investor how can I buy the token? Is it already listed on any exchange (CEX & DEX)??
Mars Ecosystem is listed on Bakery Swap and MarsSwap
Users now can buy XMS at http://app.marsecosystem.com/swap
Q3) What are plans in for global expansion? Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?
Now, Mars Ecosystem has reached a strategic partnership with MugglePay, the world’s leading cryptocurrency C2B payment service provider. MugglePay will use MarsSwap of the Mars Ecosystem to meet its stablecoin exchange needs, and gradually integrate the Mars Ecosystem’s stablecoin USDM into MugglePay’s payment system to provide merchants with richer digital currency payment solutions.
And we have already reached strategic partnership with several major launchpads, such as LaunchZone, Bella Protocol and BakerySwap. Besides, in the near future, we will cooperate with more projects such as DoDoSwap. So, please stay tuned and don’t miss anything!🌟
Q4) Staking is one of the most attractive way that exist through the DeFi system where users generate passive income. With that, can you tell us more about Mars Ecosystem staking program and various ways through which users can participate in your staking program?
We used to have staking program before the launch of Mars Farm/Pool
Our Stake function has been closed now.
So,The users who want to participate in the staking can join in our Mars Farm/Pool
More details are mentioned in this article https://mars-ecosystem.medium.com/announcing-the-launch-of-mars-ecosystem-farms-pools-317bf8c2ea89?source=user_profile———0—————————-
Q5) Is your project already listed on coinmarketcap and coingecko. Or When will you list on coinmarketcap and coingecko????
XMS has been officially listed on CoinMarketCap and CoinGecko. You can check real time trading data of XMS here below now.
Q6) What is the tokenomics of your project ?
& How can I buy your token?
Q7) Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??
We have Telegram Group in different languages:
Please join these groups and remember: Only trust information from these sources. Thanks!
And you’re welcome to help us build a Mars Ecosystem community in your own language, please fill out this form to let us know! https://docs.google.com/forms/d/e/1FAIpQLSdM5ZFCeR39og61GHdAUCedKtB16jnusUfv6-WSaHK254Ch6A/viewform?usp=sf_link
Q8) Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiron for approaching to this name?
In the merge of the “solar system/multi-planets” finance protocols (Luna, Mercurial, Venus, Saturn…), “Mars” is the most popular item with cultural backgrounds and technological fantasies. We tend to explore the financial interests of the DeFi users by attracting them to Mars Ecosystem through the science-fictional concepts and “meme” culture.
Q9) Can you please elaborate more about your tokenomics?? And;
What is the total supply? and
Do you really have long term plans regarding the token unlocking ????
Mars Ecosystem is a new decentralized Stablecoin paradigm. The main purpose of our project is to build the central bank and reserve currency of the DeFi world.
To achieve this goal, the Mars Ecosystem uses a two token system: The Stablecoin of the Mars Ecosystem is USD-Mars (USDM), and the governance token is Mars Ecosystem Token (XMS).
The Stablecoin USDM could serve the reserve currency of the DeFi world, as any token aimed to be the reserve currency has to be stable. The governance token XMS captures the value generated from the creation and circulation of USDM, and has a huge appreciation upside. The value capture model of Mars Ecosystem’s governance token XMS includes the following ways:
a. Mintage control mechanism. The mintage control mechanism ensures that the market value of XMS is at least 2.5 times the circulating supply of USDM. How strong is this value capture method? At present, the supply of DAI of the Maker protocol is 4.8 billion, and the market value of its governance token MKR is 3.7 billion USD. If the Maker protocol also uses the mintage control mechanism created by Mars Ecosystem, the market value of the MKR corresponding to 4.8 billion DAI will reach 12 billion USD.
b. Mars Treasury control rights value. XMS holders can control the Mars Treasury through protocol governance, which makes the market value of XMS at least twice the value of the assets in the Mars Treasury to prevent common 51% attacks.
c. The transaction fees generated at the Mars DeFi protocols. When users trade on Mars DeFi protocols such as Mars Swap and Mars StableSwap, they will be charged transaction fees, which are partly assigned to the liquidity provider and partly assigned to the protocol. The protocol assigns these fees to XMS stakers through repurchase and redistribution of XMS and other methods.
XMS’s Total Supply is 1 Billion. And its distribution is:
Community Incentives (Liquidity Mining, Trade Mining, Airdrops) 70% ，DAO Treasury (Market Making, Operations, Marketing, Partnerships) 10% ，Investors 10%, Team 10%. 10% will be locked by team, vesting monthly for 36 months starting at TGE
Q10) Do you have Whitepaper if yes please share it with us and secondly do you have plans for pre-sale?Now where can we join it?
Yes, you can read our white paper in Multi-language versions!
And we already finished our IDO/IMO in June. Now you can trade XMS at https://app.marsecosystem.com/swap
And this was the end of our AMA with Mars Ecosystem.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://marsecosystem.com/home
Medium :- http://mars-ecosystem.medium.com/
Twitter :- https://twitter.com/MarsEcosystem
Github :- https://github.com/MarsEcosystem
Discord :- https://discord.gg/CnnNuvQEXG