Genesis Event 3 has ended successfully

3 min readNov 29, 2021

A cheerful announcement to all the participants of the ‘Genesis Event 3’. We were able to achieve 8,876,590 BUSD committed and 13,314,885 XMS staked at the same time. Absolutely, It is another outstanding achievement, and we are already looking forward to the success in the coming up ‘Genesis Event 4’.

We sincerely appreciate your participation, enthusiasm, and patience in our event.

🔥 Stake USDm to earn with 1000+% APR

Now you can claim your freshly minted USDm：

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

Our pool with an APR 1000%+ 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 3’

Total BUSD committed: 8,876,590 BUSD
Total $XMS staked: 13,314,885 XMS
XMS claimable block: 13254240
Check the estimated time for this block here: https://bscscan.com/block/countdown/13254240

🔥The ‘Genesis Event 4’

The Genesis Event 4 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

🔥 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