Announcing the launch of Mars Ecosystem Genesis Event 2

4 min readNov 24, 2021

A huge shout-out to all the participants of ‘Genesis Event 1’. We were able to achieve 5M BUSD committed within 19 minutes and 10M $XMS staked at the same time. It is truly magnificent, and we hope for the same success in the coming up ‘Geneses Event 2’.

At the end of ‘Genesis Event 1’, we have in total of 16,613,052 BUSD committed and 33,226,105 XMS staked, which means we exceeded the mintage cap 3X over! Thanks again for your enthusiasm and patience.

✨ A summary of ‘Genesis Event 1’

Total BUSD committed: 16,613,052 BUSD
Total $XMS staked: 33,226,105 XMS
XMS claimable time starts: 28th Nov. 3:13 pm UTC

🔥Genesis Event 2

Start Time: November 25, 13:00 UTC
Duration: 2 hours
End Time: November 25, 15:00 UTC
Venue: https://app.marsecosystem.com/stablecoin/#/
USDm Mintage Cap: The maximum amount of USDm that can be minted in Genesis Event 2 is 10 Million. In the case of oversubscription, all participating users will share the USDm mintage quota based on their subscription amount.
USDm mintage cost: 1 USD.
Whitelisted assets for minting USDm: BUSD.
XMS requirement for participation: To commit 1 BUSD to participate in the minting of USDm, a user must stake 1.5 XMS proportionately. The staked XMS can be claimed 7 days after Genesis Event 2 ends.

To understand the 2nd Genesis Event’s process through a graph:

r = Your commit BUSD / Total commit BUSD

🔥After Genesis event 2, what are the benefits for USDm holders?

1.Users can stake USDm to Earn XMS, BTC, ETH, BNB, CAKE With XXXX%+ APR. (https://app.marsecosystem.com/pools)
2. Users can trade USDm on Marsswap and enjoy a high premium. (https://app.marsecosystem.com/swap)

✨Changes in rewards for USDm and XMS pools

To protect the participants of Genesis Event 1 and Genesis Event 2, immediately after the Genesis Event 2 ends, the rewards for the following USDm and XMS pools will be changed as follows:

1. Daily reward to stake XMS earn BTC: -reduce 0.024 BTC

2. Daily reward to stake USDm earn BTC: +increase 0.024 BTC

3. Daily reward to stake XMS earn ETH:-reduce 0.323 ETH

4. Daily reward to stake USDm earn ETH: +increase 0.323 ETH

5. Daily reward to stake XMS earn BNB: -reduce 5.78 BNB

6. Daily reward to stake USDm earn BNB: +increase 5.78 BNB

7. Daily reward to stake XMS earn CAKE: -reduce 1848 CAKE

8. Daily reward to stake USDm earn CAKE: +increase 1848 CAKE

✨ Enjoy High APR with USDm

Immediately after Genesis Event 2 ends, users can stake USDm to earn XMS, BTC, ETH, BNB, CAKE at Mars Pool with XXXX%+ APR.

✨Security

We are all concerned about the security issues, as we promised, ensuring the safety of user assets is our top priority.

We attach great importance to the attack vectors that our innovations may bring, and for this, we have conducted multiple tests.

Our Stablecoin module is audited by the best security auditors in the world: SlowMist, Certik, and BlockSec.

✨Module restrictions

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.

In order to incentivise the minting of USDm, the core modules related to the stability of USDm will not be open in Genesis. This makes the USDm price unstable at $1 in Genesis. As a result, the price of USDm is highly volatile in Genesis. However, the USDm price will return to $1 soon after Genesis.