Another Milestone Achieved! The Hottest Mars Ecosystem IHO Project — UpDeFi — Has Ended Successfully!

5 min readMar 21, 2022

On March 21st, Mars Ecosystem launched an IHO with UpDeFi, the Ultimate Yield-as-a-Service(YaaS) Platform. We are extremely delighted to announce that the IHO with UpDeFi has come to an end with success with 597 participants. Following the completion of this round’s IHO with UpDeFi, 30 million XMS were immediately burned, which represents nearly 10% of the current circulating supply of XMS. We’ve been extremely pleased by the support and excitement we have received from our community. We truly appreciate your confidence and your commitment to both Mars Ecosystem and UpDeFi!

A friendly reminder to $XMS and $USDm holders that you are now able to stake your tokens on UpDeFi with more than 1500%+ APR! It’s now time to move onto the next step and present our IHO details.

After IHO,$UP price quickly rose and reached $0.29 as users continued to buy the UP token, 6.4 times over the IHO price! Congratulations to all the participants, now you can also buy $UP on MarsSwap: https://app.marsecosystem.com/swap

Go enjoy the 1800+% APR of Staking UP earn CAKE! https://app.updefi.finance/vaults

IHO Statistics

IHO Price: $0.045 per $UP, 1.5 $XMS per $UP
$UP vesting: Starts at 14:00 UTC on March 21. Linear vesting for 90 days on a block-by-block basis.
$UP Contract Address: 0xbAc79E308BadA146DE29f56E066a021cfFA00375
Total participants: 597
Total $XMS committed: 37,261,323 XMS

With 597 participants joining in the IHO, the price of $UP rose quickly and reached $0.29 at its peak! At the time of writing, $UP price is $0.29, 6.4 times over the offering IHO price! Whoo-hoo! A big congratulations to all lucky Mars hitchhikers! Don’t forget that all IHO participants will be able to claim part of their $UP on the same day of the IHO.

Exclusive 1500%+ APR for $XMS, $CAKE and $USDm holders

The strategies and farms are live on UpDeFi now. There are 3 different strategies and 43 vaults in total, with over 1500%+APR for $XMS, $CAKE and $USDm holders. Hop on the HIGH APR train and enjoy your earnings now!

Start to earn: https://app.updefi.finance/vaults

$XMS Burned Info

Toal $XMS burned in this round: 30 Million

Toal $XMS burned in Mars Ecosystem IHO: 49 Million

Following the completion of this round’s IHO with UpDeFi, 30 million XMS were immediately burned, which represents nearly 10% of the current circulating supply of XMS. So far, Mars Ecosystem IHO has burned a total of 49 million XMS. There will be more IHO to deliver on our Launchpad coming soon, bringing the $XMS economic model into deflation significantly.

🌟About UpDeFi

As a one-stop Yield-as-a-service (YaaS) platform, UpDeFi strives to meet all users’ needs with the best asset security and highest optimized yields. Better yet, the combination of Yield-enhancing strategy and UP-staking strategy distinguish UpDeFi from traditional yield aggregators, which greatly reduces the selling pressure of earned tokens and enables users to obtain higher returns that the auto-compounding strategies cannot bring. What’s more, projects will be able to pay the minimum capital cost to obtain maximum liquidity and user attention by improving the capital efficiency they produce through their incentive programs.

Strategies — The GEM of UpDeFi in the DeFi space

Strategies are UpDeFi’s main product. The yield strategies currently provided by the UpDeFi platform include the following categories:

1.Auto-compounding strategies

UpDeFi’s auto-compounding strategy has low fees so that users can receive a higher yield. What’s more, users of UpDeFi’s auto-compounding strategy can not only earn UP token rewards but also the economic model design of UP tokens determines the high value of UP tokens.

2. Yield-enhancing strategies

Yield-enhancing strategies use the native UP token of the UpDeFi protocol as a bridge for yield realization, which prolongs the yield release time of the underlying yield protocol, greatly reduces the selling pressure of earned tokens, and enables users to obtain higher returns that the auto-compounding strategies cannot bring.

3. UP-staking strategies

The UP-staking strategy directly distributes the UpDeFi protocol revenues to the UP token holders.

There will be more upcoming events between Mars Ecosystem and UpDeFi. Keep your eyes peeled and stay tuned with us for more information!

🌟 Apply for Mars Ecosystem IHO

‘MarsEcosystem IHO’ is our Initial Holder Offering. Our IHO allows projects to distribute their new tokens to the broadest audience possible in a fairway. As a result, projects benefit from increased exposure and easy token distribution.

The original intention of doing IHO’s is to provide high-quality projects for the Mars community, where users can obtain tokens for these projects at a preferential price.

Submit your project and join the Mars Ecosystem. Mars Ecosystem is among the most popular projects on the Binance Smart Chain and will bring your token directly to the most active and rapidly growing community on BSC.

Apply for IHO: https://forms.gle/8F6aMjZ3TAoTH6Xw9

For more details, please check the official useful links:

🔗UpDeFi Useful links:

📈Dapp: http://app.updefi.finance/

📙Whitepaper: https://docs.updefi.finance/

🐦Twitter: https://twitter.com/UpDeFiUp

📝Medium: https://medium.com/@updefi_52681

🤖Discord:https://discord.gg/dDyRjss7va

👪Reddit: https://www.reddit.com/r/UpDeFi/

✉️BD Email: olivia@updefi.finance

🚀Telegram Channel:

⭐️Announcement: https://t.me/updefi_announcement

🌟English: https://t.me/UpDeFiUp

🌟中文：https://t.me/UpDeFi_CN

🌟Español：https://t.me/UpDeFi_ES

🌟Italiano：https://t.me/UpDeFi_Italia

🌟Tiếng Việt：https://t.me/UpDeFi_VN

🌟Bahasa Indonesia：https://t.me/UpDeFi_IDSA

🌟Português：https://t.me/UpDeFi_PT

About Mars Ecosystem

The BSC MVBIII Monthly Star — Mars Ecosystem is the 1st stablecoin Defi Ecosystem, which has successfully raised $2 million in seed funding from Continue Capital, etc.

Mars Ecosystem’s smart contracts are audited by the best security auditors in the world: Certik and SlowMist. And offers a Bug Bounty with DeFi’s leading bug bounty platform, Immunefi.