Genesis Event 2 has ended successfully & We exceeded the Mintage Cap 1.5X over!

3 min readNov 25, 2021

A cheerful announcement to all the participants of ‘Genesis Event 2’. We were able to achieve 10M BUSD committed within 95 minutes and 15M XMS staked at the same time. Absolutely, It is another outstanding achievement, and we are already looking forward to the same success in the coming up ‘Genesis Event 3’.

At the end of ‘Genesis Event 2’, we have in total of 15,448,336 BUSD committed and 23,172,504 XMS staked, which means we exceeded the mintage cap 1.5X over! We sincerely appreciate your participation, enthusiasm, and patience in our event.

Stake USDm to earn with 2000+% APR

Now you can claim your freshly minted USDm：

👉https://app.marsecosystem.com/stablecoin/#/claim

Our pool with an APR 2000%+ is now officially available, And you can stake your USDm to enjoy a high APR.

👉https://app.marsecosystem.com/pools

USDm Contract Address: 0xBb0fA2fBE9b37444f5D1dBD22e0e5bdD2afbbE85

A summary of ‘Genesis Event 2’

Total BUSD committed:15,448,336 BUSD
Total $XMS staked: 23,172,504 XMS
XMS claimable time starts: 02nd Dec 2021 3:03PM UTC

🔥The ‘Genesis Event 3’

The Genesis Event 3 is coming soon.

The date and details will be announced soon.

Keep your eyes on the countdown. https://app.marsecosystem.com/stablecoin/#/

🔥About ‘Genesis Events’

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.

A series of “Genesis Events” will be held during this rollout. The duration of each Genesis Event is several hours.

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

x, r, n are variable ratios.
r = Your commit BUSD / Total commit BUSD
The mintage cap of each event will be changed

🔥 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 2000%+ APR.

👉https://app.marsecosystem.com/pools

🔥 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.

Useful links:

📙 Whitepaper about Genesis in Multi-languages: https://docs.marsecosystem.com/whitepaper/genesis

📈 DAPP：https://app.marsecosystem.com/

🌎 Website: https://marsecosystem.com

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

🎬 Youtube: youtube.com/channel/UCUY30mQ_HRXDK80EoO5q_5Q/featured

🤖 Discord: https://discord.gg/52TEnebg

📝 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