XMS will start full deflation!
Dear Hitchhikers of Mars Ecosystem,
We’d like to share with you, after much preparation and anticipation, we will finally close the stake CAKE/PancakeSwap LP earn XMS pool and farms at 1 PM UTC on April 25, 2022. The reduction in the amount of XMS rewards will lead to a reduction in Mars’s protocol revenue, and all Mars Pools & Farms that reward CAKE, BNB, BTC, ETH and USDm which all comes from protocol revenue, will be closed accordingly.
The reasons why we made this decision are as follows:
🌟1. The XMS-typed vaults model in Mars Farm work in a way to attract users to participate in USDm minting. It’s not the core economic model of XMS. This model helped us build the community of the Mars Ecosystem in the early stage. However, at this stage it is no longer valuable in this regard.
🌟2. This decision will directly mitigate the release of XMS and facilitate XMS to deflate. Once these pools are shut down, the distribution of XMS will be severely diminished. Therefore, we decided to reduce the release of XMS until deflation.
🌟3. The value model of XMS will be fully returned through its binding of USDm’s demand. The value of XMS will completely stem from USDm’s demand. The focus of Mars Ecosystem will fall on boosting the demand for USDm.
In conclusion, the decision we made is to actualize the deflation of XMS and keep the value model of XMS fully back to stablecoin-oriented means. More importantly, the Mars team will continue to make contributions on stablecoins and empower ourselves to pioneer the value of XMS instead of relying on yield mining.
Users can still stake XMS and USDm in the remaining pools of Mars Farm. The pool reserved by Mars:
Stake XMS Earn XMS
Stake XMS — BNB Earn XMS
Stake USDm — Earn XMS
Stake XMS — USDm Earn XMS
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👨🚀 Great things are on the horizon and together we will build a New Decentralized Stablecoin Era!
The Marsecosystem Team