AMA Session Mars Ecosystem x MEXC Global
Guest : Dr. Marvin
Host: Miranda
Introduction:
Iris: Today, we’re honored to have Dr. Marvin, Community Manager, in our community to give us a more intuitive introduction to their unique project.
Dr. Marvin, would you like to say hello and introduce yourself?
Dr. Marvin: Hey, guys! I am Marvin from Mars Ecosystem. It’s a pleasure to be here with you today. I’m the first aboriginal on Mars and one of the ambassadors of Mars Ecosystem. I will be your guide and friend for the journey to Mars. 🚀
Join Mars Ecosystem Tg Chat for latest news: https://t.me/mars_ecosystem
Questions from the community:
Q1
Miranda: What is Mars Ecosystem? Can you share with us more in detail?
Dr. Marvin: Mars Ecosystem is the 🥇1st stablecoin Defi 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.
As one of the most potential and hottest projects on BSC, Mars Ecosystem has won the Monthly Star of BSC MVBIII Program in September, which means that Mars ecosystem has excellent volumes of active users and total transactions. More importantly, it means BSC recognized security status, product innovation level, development activity, and community engagement.
Mars Ecosystem’s smart contracts are audited by the best security auditors in the world: Certik, BlockSec and SlowMist. And offers a Bug Bounty with DeFi’s leading bug bounty platform, Immunefi.
Miranda: Monthly Star, wow, that’s cool!
Dr. Marvin: In September, Mars Ecosystemlaunched its own Farms & Pools and the TVL already reached 🔥480M now. At the same time, maintaining an APR of up to 500+%.
And Mars Ecosystem successfully launched the stablecoin module $USDm on 21st Nov. with a “Genesis”. Within 2 hours, users committed 16.61 million BUSD, exceeding the USDm minting cap by 3.3 times. As a result, 5 million BUSD were successfully minted into USDm!
The participants of Genesis Event 1 are currently enjoying the 2000+% APR by staking $USDm to earn $XMS, $BTC, $ETH, $BNB and $CAKE at our Pools. (https://app.marsecosystem.com/pools)
And The Genesis Event2️⃣ Will be held on 25th Nov. 1 pm-3 pm UTC. Please stay tuned everyone!
The Genesis Event2️⃣: 25th Nov. 1pm-3pm UTC
$USDm Mintage Cap: 10 Million
$XMS requirement: To commit 1 BUSD, stake 1.5 XMS (for 7 days).
Stake $USDm to earn $XMS, $BTC, $ETH, $BNB, $CAKE with xxxx%+ APR. Rewards to $USDm pools will be increased after the Genesis Event 2 ends.
https://twitter.com/marsecosystem/status/1463326682270552074?s=21
Q2
Miranda: Can you tell us what triggers you to create Mars Ecosystem? What are some of the real-world problems/ pain points that Mars Ecosystem aims to solve?
Dr. Marvin: Please allow me to introduce the Mars Ecosystem Team. Let’s start with the founder: John. John is the founder and CEO of Mars Ecosystem, and an avid fan of Defi and blockchain technologies.
John has a PhD in Finance from Stanford University and has many years of experience in the financial sector. Because of this, John is very familiar with the theory and applications of economics and finance in DeFi.
Mars Ecosystem team members are all early practitioners of the Internet and Blockchain with a solid background in finance, our team members are also Graduates from prestigious universities, and the team has many years of cross-terminal capabilities, Including financial backgrounds and mature Defi industry experience.
What’s more, Mars Ecosystem insists on sharing the protocol’s revenue with all users, allowing our users to grow alongside the protocol. We are currently rewarding 90% of our revenue to XMS stakers, to ensure and maximize user benefits.
As the income of the protocol skyrockets, Mars Ecosystem will be able to distribute more to its users. Currently, $500,000 worth of $BTC, $BNB, $ETH, $CAKE and other mainstream currencies are daily distributed to $XMS stakers. Total rewards distributed stands at $22.1 Million already!!
So what are some of the real-world problems/ pain points that Mars Ecosystem aims to solve?
At present, various stablecoin protocols face trade-offs in terms of price stability, degree of decentralization, and scalability. There are also two fundamental problems in common: one is the positive externality problem, and the other is the integration problem.
The positive externality problem of stablecoin protocols: The costs of producing and maintaining stablecoins are incurred by the protocol and its users (minters, share holders, bond holders). The majority of the value derived from the stablecoin protocols is within the transaction fees on other DeFi protocols. This capital is captured by these DeFi protocols and gives no financial benefit to the stablecoin protocol itself. In turn, this can mean to a supply shortage of said stablecoin when compared to the market demand on DeFi platforms.
The integration problem of stablecoin protocols: The demand for stablecoins created by any stablecoin protocol is highly dependent on the degree of integration of said stablecoin within other DeFi protocols besides the native stablecoin protocol. If the integration of stablecoins with other DeFi protocols is ignored, then supply growth and stability of stablecoins is affected.
A stablecoin protocol that solves these two problems has the potential to become the leader of the decentralized stablecoin market.
Q3
Miranda: What is the role of $XMS in Mars Ecosystem? Would you tell us more about its tokenomics?
Dr. Marvin: First of all, 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 as 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 Token XMS includes the following :
✔️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. If the market demand for USDm is 100 million, then the market value of XMS should be at least 250 million USD. If this is not the case then the circulating supply of USDm cannot reach 100 million (at the given moment).
This value capture method is very efficient. At present, the supply of DAI of the Maker Protocol is 4.8 billion USD, 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 would be 12 billion USD — This is more than a magnitude of 3 above the current valuation of 3.7 billion USD.
✔️Mars Treasury control rights value. XMS holders can determine protocol upgrades within the Mars Treasury through protocol governance votes. To prevent the occurrence of a 51% attack on the protocol the market capitalization of XMS will always remain at least 2x the value of the assets held within the Mars Vault. If the circulating supply of USDm in the market is 100 million USD, and correspondingly Mars Treasury has 100 million USD assets, then the market value of XMS is at least 200 million USD, otherwise, the Mars Treasury is at risk of being attacked.
✔️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. These are partly assigned to the liquidity provider and partly assigned to the protocol itself. The protocol also assigns these fees to XMS stakers through the repurchase and redistribution of XMS (and other methods.)
XMS’s Total Supply is 1 Billion. And its distribution is:
1) Community Incentives (Liquidity Mining, Trade Mining, Airdrops) 70%
2) DAO Treasury (Market Making, Operations, Marketing, Partnerships) 10%
3) Investors 10%
4) Team 10%. 10% will be locked by team, vesting monthly for 36 months starting at TGE.
Q4
Miranda: Are there any exciting news or updates with regards to Mars Ecosystem that you would like to share with the users?
Dr. Marvin: Yes! Mars Ecosystem launched successfully the stablecoin $USDm on 21st Nov. Within 2 hours, users committed 16.61 million BUSD, exceeding the USDm minting cap by 3.3 times. As a result, 5 million BUSD were successfully minted into USDm.
Many users in the market immediately snapped up USDm as they could immediately stake USDm to earn mainstream tokens such as XMS, BTC, ETH, BNB, CAKE and enjoy an APR of over 2000%. As a result, the price of USDm went up as high as $2.50 and is currently stabilised at $1.80. Thus, all users who participated in the first Genesis Event were rewarded heavily in a short period.
The following Genesis events will be similar to the first Genesis event: it will last for a few hours, there will be a USDm mintage cap, and users will need to commit BUSD and stake proportional amount of XMS to mint USDm. Users can stake USDm to obtain mainstream coins such as XMS, BTC, ETH, BNB, CAKE and enjoy a high APR.
(Now the APR is above 2000+%: https://app.marsecosystem.com/pools)
Miranda: 16.61 million BUSD in 2 hours, that’s amazing! and you don’t see a lot of projects with APR above 2000+%
Dr. Marvin: The Genesis Event2️⃣ is Coming on 25th Nov. 1pm-3pm UTC (2h)
$USDm Mintage Cap: 10 Million
$XMS requirement: To commit 1 BUSD, stake 1.5 XMS (for 7 days).
Stake $USDm to earn $XMS, $BTC, $ETH, $BNB, $CAKE with xxxx%+ APR. Rewards to $USDm pools will be increased after Genesis Event 2 ends.
In the future, we will release a limited edition of NFTs in cooperation with Celestial, a GameFi project. Users can use our XMS or USDm to purchase the limited edition and highly empowered NFTs. At that time, we will also promote diversified cooperation with more high-quality projects.
We will release our yield aggregator. We have issued very impressive rewards to users, but we have no intention of stopping or slowing down! Our yield aggregator will help users increase profitability and manage user assets on more public chains.
At the same time, we will officially launch our launchpad. We will cooperate with high-quality new projects to conduct IDO on our Launchpad. Users need to participate in IDO with USDm, and they must stake XMS before participating.
We will also provide USDm with low slippage and high capital efficiency liquidity on Mars StableSwap, and we will also carry out cross-chain work.
Helping to build the future of DeFi is one of our main goals, and we are committed to creating a safer and more profitable ecosystem for all DeFi users.
Because you can stake USDm to obtain mainstream coins such as XMS, BTC, ETH, BNB, CAKE and enjoy a high APR. (Now the APR is above 2000+%: https://app.marsecosystem.com/pools)
Suppose you don’t want to hold USDm. Then, you can also swap USDm for BUSD on MarsSwap at any time and enjoy the high premium of USDm.
Q5
Miranda: If you were to summarize your project in ONE word, what would it be? Why?
Dr. Marvin: Innovation.
In order to solve the fundamental problems of the stablecoin protocol, Mars Ecosystem has many unique innovations:
a)Treasury assets classification mechanism
b)Mintage control mechanism
c)Anti-”bank run” mechanism
d)The integration of DeFi protocols and stablecoin into the same system
Free-asking Session
Q1. Mars Ecosystem has USDM stablecoin. Can this USDM be purchased on Mars Swap or other Dex exchanges? And is there any benefit to holding USDM, for which USDM is a stable coin?
Dr. Marvin:
Thanks for your attention towards our Genesis.
And first of all, please allow me to emphasize that the correct spelling of the name of our stablecoin is $USDm. Hahaha. 😁
🌟How to get $USDm:
The stablecoin module of Mars Ecosystem was launched on BSC on November 21, and a “Genesis” is currently being held at the same time.
Users of Genesis Event 1 claimed and staked their USDm to earn mainstream tokens such as XMS, BTC, ETH, BNB, CAKE and is now enjoying an APR of over 2000%. https://app.marsecosystem.com/pools
Suppose users don’t want to hold USDm. Then, they can also swap USDm for BUSD on MarsSwap at any time and enjoy the high premium of USDm.
The Genesis Event2️⃣ is coming: 25th Nov. 1pm-3pm UTC
$USDm Mintage Cap: 10 Million
$XMS requirement: To commit 1 BUSD, stake 1.5 XMS (for 7 days).
Stake $USDm to earn $XMS, $BTC, $ETH, $BNB, $CAKE with xxxx%+ APR. Rewards to $USDm pools will be increased after the Genesis Event 2 ends.
After the Genesis Event 1, Many users in the market immediately snapped up USDm as they could immediately stake USDm to earn mainstream tokens such as XMS, BTC, ETH, BNB, CAKE and enjoy an APR of over 3000%. As a result, the price of USDm went up as high as $2.50 and is currently stabilised at around $2. Thus, all users who participated in the first Genesis Event were rewarded heavily in a short period.
And why does it happen like this with our stablecoin?
Because in order to achieve the purpose of incentivising the minting of USDm and to be consistent with the economic dynamics caused by the unique economic mechanisms of Genesis, the following modules will not be open in Genesis:
USDm Minting
USDm Redeeming
USDm Mintage Control
The price of USDm in Genesis is highly volatile and will return to $1 after Genesis.
Q2. About the Launchpad PLAN OF Mars Ecosystem, we’ll need to stake usdm or xms?
They will be locked during the launchpad time and sent back after?
Well buy these IDO’s with XMS or USDM?
Dr. Marvin:
We will cooperate with high-quality new projects to conduct IDO on our Launchpad. Users need to participate in IDO with USDm, and they must stake XMS before participating.
Q3. I’ve been staking Cake Earn to XMS on MarsSwap, why to get rewards you have to use vesting. Can you explain the vesting mechanism on Mars?
Dr. Marvin:
First of all, thanks for your participation.
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.
Follow us:
White paper about the genesis in different languages: https://docs.marsecosystem.com/whitepaper/genesis
Our DAPP: https://app.marsecosystem.com/Website: https://marsecosystem.com
Twitter: https://twitter.com/MarsEcosystemInstagram: https://www.instagram.com/marsecosystemofficial/
Discord: https://discord.gg/52TEnebg
Medium: https://mars-ecosystem.medium.com/
Reddit: https://www.reddit.com/r/marsecosytem/English Telegram: https://t.me/mars_ecosystem
