Mars Ecosystem Weekly Report #30

2 min readMar 28, 2022

Dear Mars Ecosystem community members,

Below are the project’s highlights for the most recent week (21st Mar. — 27th Mar.):

🌟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.

$XMS Burned Info:

Toal $XMS burned in Mars Ecosystem IHO with UpDeFi: 30 Million(10% of the current circulating supply of XMS)
Toal $XMS burned in Mars Ecosystem IHOs: 49 Million(4.9% of total supply)

Check here:

twitter.com/MarsEcosystem/status/1507001228361822210

🌟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.

Check here:

https://twitter.com/MarsEcosystem/status/1507007933418070021

🌟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.

Mars Ecosystem is eager to work with all teams & projects that can mutually benefit from the application of USDm token to bring more value to XMS & USDm users.

The XMS tokens allocated to the Mars Ecosystem team have never been released. In order to meet users’ expectations, we’ll continue to work hard.

Check the details:

https://twitter.com/MarsEcosystem/status/1506286982753882112

🔗 Mars Ecosystem useful links