Mars Ecosystem Weekly Report #30

🌟1. Burned 30M $XMS after the Mars Ecosystem IHO with UpDeFi

After our successful IHO with UpDeFi, 30 million XMS was immediately burned, which represents nearly 10% of the current circulating supply of XMS. Furthermore, the total amount of $XMS burned among IHOs was 49 million which is 4.9% of the total supply.

🌟2. Reduced the XMS per block reward amount of all Mars Pools & Farms by 50% to speed up XMS deflation.

The reduction in the amount of XMS rewards started leading to a reduction in Mars’s protocol revenue, and all Mars Pools & Farms that reward CAKE, BNB, BTC, and ETH, which all come from protocol revenue, were reduced accordingly.

🌟3. Congratulations on the successful launch of UpDeFi

A big congratulations to UpDeFi on their successful launch. As we continue building on our vision of an ecosystem revolving around USDm-based stablecoin, it’s important to understand UpDeFi’s launch as an important step for MarsEcosystem towards the completion of that vision.

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