Libra Finance AMA Recap
1. What is Libra Finance and how does it contribute to the Mars Ecosystem?
A: Libra Finance is an automated market maker for trading stablecoins. Users of Mars Ecosystem currently trade USDm and other stablecoins on MarsSwap. Since MarsSwap adopts the traditional AMM pricing curve, the transaction slippage of USDm is relatively high, and thus it is difficult to maintain the price of USDm around 1 USD. Libra StableSwap adopts a low slippage design, making it easier for users to trade USDm.
2. Will Libra Finance issue new tokens?
A: To better contribute to the Mars Ecosystem, Libra Finance currently has no plan to issue new tokens.
3. Why did Libra StableSwap take so long to develop?
A: Since the development and launch of Libra StableSwap involves many modules such as Mars Treasury and MarsSwap in addition to the functions of StableSwap itself, many new modules need to be developed and tested, so it took longer than we expected. We thank users for their patience, and in the future, we will strive to speed up the development and test processes as much as possible while ensuring product safety and functionality.
4. How will the Mars Ecosystem stabilize the price of USDm around 1 USD?
A: Since the amount of BUSD reserves in Mars Treasury exceeds the amount of USDm in circulation, users can have confidence in the value of USDm. Part of Mars Treasury’s BUSD reserves will be used to provide liquidity for USDm at MarsSwap and Libra StableSwap.
5. Can Mars Ecosystem use the reserves of the Mars Treasury to earn interest?
A: We are constantly evaluating opportunities to earn interest using Mars Treasury’s reserves. Due to the unsatisfactory risk and return prospects of various interest-earning opportunities, so far we have not used these reserves to generate interest. The recent collapses and hacks of numerous DeFi protocols, including Terra, also justified our prudence.
6. What is the roadmap for the Mars Ecosystem after Libra Finance goes live?
A: Mars Ecosystem will continue to develop products that can contribute value to its users, especially XMS holders. After Libra Finance goes live, we will begin an evaluation of potential directions. We welcome suggestions from our community users.
7. How to access and use Libra Finance?
A: The website for Libra Finance is https://app.librafinance.org/. Libra Finance is easy to use, and we will provide a user guide soon.
8. When will Libra Finance go live?
A: Libra Finance will be launched at 2 PM UTC on October 15th. Users will be able to use it very soon!
🔗 Mars Ecosystem useful links
👾 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