Thanks to the community for the support and patience it has to offer! After many tests and inspections by our dev team and security auditors, Mars Ecosystem has finally confirmed that it is about to start the next era:
The stablecoin module of Mars Ecosystem will be launched on BSC on November 21, and a “Genesis” will be held at the same time.
The purpose of this Genesis is to incentivise the minting of USDm and to distribute XMS, BTC, ETH, BNB, CAKE to the early supporters of USDm for free.
The duration of Genesis is 30 days. A series of “Genesis Events” will be held during this rollout. The duration of each Genesis Event is several hours.
The Genesis start time: November 21, 2021
🔥 Genesis Event 1
Start Time: November 21, 13:00 UTC
Duration: 2 hours
End Time: November 21, 15:00 UTC
USDm Mintage Cap: The maximum amount of USDm that can be minted in Genesis Event 1 is 5 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 2 XMS proportionately. The staked XMS can be claimed 7 days after the Genesis Event 1 ends.
To understand the 1st Genesis Event’s process through a graph:
r = Your commit BUSD / Total commit BUSD
🔥 Enjoy High APR with USDm
Immediately after the Genesis Event 1 ends, users can stake USDm to earn XMS, BTC, ETH, BNB, CAKE at Mars Pool with 1000%+ APR.
🔥 Liquidity for USDm
The BUSD that the user successfully mints into USDm during the Genesis will be deposited into the Mars Treasury. After Genesis Event 1 ends, all of the BUSD deposited in the Mars Treasury will be used to provide liquidity for the USDm-BUSD trading pair on MarsSwap. All BUSD deposited into Mars Treasury in the later Genesis Events will be temporarily stored in Mars Treasury. After Genesis ends and the USDm price stabilises at $1, these BUSDs will be used to provide liquidity for the USDm-BUSD trading pair on MarsSwap.
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.
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.
🌎 Website: https://marsecosystem.com
🎬 Youtube: youtube.com/channel/UCUY30mQ_HRXDK80EoO5q_5Q/featured
🤖 Discord: https://discord.gg/gEWC4VVnNt
📝 Medium: https://mars-ecosystem.medium.com/
🧠 Reddit: https://www.reddit.com/r/marsecosytem/
👾 Join our community
🌟 English Telegram: https://t.me/mars_ecosystem
🌟Chinese Telegram: https://t.me/Marsecosystem_chinese
🌟Indonesian Telegram: https://t.me/marsecosystem_IDSA
🌟Vietnam Telegram: https://t.me/marsecosystem_vietnam
🌟Spanish Telegram: https://t.me/marsecosystem_ES
🌟Russian Telegram: https://t.me/marsecosystem_cis
🌟Portuguese Telegram: https://t.me/marsecosystem_Pt
🌟French Telegram: https://t.me/marsecosystem_french
🌟Thailand Telegram: https://t.me/marsecosystem_thailand
👨🚀 Great things are on the horizon and together we will build a New Decentralized Stablecoin Era!
The Marsecosystem Team