“Builds the central bank and reserve currency for DeFi. Be a DeFi Hitchhiker with Mars Ecosystem.”
Andrew (BSC.News):
Hello everyone and welcome to the AMA with the Mars Ecosystem!
Today we have Dr. Marvin, the first aboriginal and Ambassador of Mars Ecosystem joining us today
How are you Dr. Marvin?
Dr. Marvin:
Hello, guys! I am Dr. Marvin from Mars Ecosystem. Its a pleasure to be here with you guys!!!ššš
How are u doin?
Andrew (BSC.News):
Doing great! Thanks for asking
So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway š
Sound good with you?
Dr. Marvin:
Wow, sounds great.
lets get started!!!
Andrew (BSC.News):
Okay so to kick things off…
1. What is your background and how did you come to start the Mars Ecosystem?
Dr. Marvin:
Yes, I am Dr. Marvin. Iām the first aboriginal on Mars and one of the ambassadors of Mars Ecosystem. And I will be your guide and friend along the journey to Mars.
And let me introduce a bit about Mars team
They are amazing people. Maybe a bit crazy, but very talented, I promise. Mars Ecosystem team members are all early practitioners of the Internet and Blockchain with an especially strong background in finance. Graduated from prestigious universities such as Stanford University.
The team has many years of cross-terminal capabilities, financial background and mature Defi industry experience. The most important is that they all have firm beliefs and great visions for blockchain technology and Defi!
Why do we start Mars Ecosystem? That’s because we see that all decentralized Stablecoin protocols in the market have some fundamental problems. If these problems are not solved, it will be very difficult for the decentralized Stablecoin protocol to replace the centralized Stablecoin protocol, and to occupy the trillions of market space.
Andrew (BSC.News):
Okay wow, thank you for that great introduction
So to speak more about the fundamental problems that you guys saw
Let’s talk a bit about your platform itself and the mission of it
2. What is the Mars Ecosystem? What is your overall mission/goal of your platform?
Dr. Marvin:
haha, thanks
Mars Ecosystem is a new decentralized stablecoin paradigm. Its goal is to propose a stablecoin system that can solve the positive externality problem and the integration problem, and has the characteristics of high price stability, high degree of decentralization, and high scalability.
Mars Ecosystem consists of three parts: Mars Treasury, Mars Stablecoin and Mars DeFi protocols. It integrates the creation and use of stablecoin into the same system.
Our vision & mission: The goal of Mars Ecosystem is to build the central bank and reserve currency of the DeFi world. The MarsDAO and Mars Community work together to bring Financial Stability and Transparency to the world economy, and even furtherā¦
Andrew (BSC.News):
Fantastic, so just to unpack a bit there, I want to follow up with some more questions
With your vision and the three parts of the Mars ecosystem
3. What are you contributing to the BSC space, as well as the future of finance?
Dr. Marvin:
good question
DeFi has the characteristics of high capital efficiency, immutability and transparency, and will replace CeFi as the future of finance.
Just as currency is the foundation of CeFi, decentralized stablecoins are the foundation of the DeFi world.
At present, there is no decentralized stablecoin protocol that can simultaneously meet the three basic requirements of high price stability, high degree of decentralization, and high scalability, and there is no stablecoin protocol that can solve the fundamental problem of the stablecoin protocols: the positive externality problem and the integration problem.
The mechanism design of Mars Ecosystem considers all these goals and questions and gives a new answer. This new mechanism has the potential to become the new leader in the stablecoin market and become the foundation of the DeFi world.
Since the leading DeFi protocolsā tokens on BSC will be allowed to be minted into stablecoins in Mars Ecosystem, with the Mars Ecosystem stablecoin becoming the basic asset of the entire DeFi world including all other blockchains (Ethereum, Solana, etc.), these leading DeFi protocolsā tokens on BSC will get the same scale of liquidity that is required for stablecoins in the entire DeFi world including all other blockchains (Ethereum, Solana, etc.).
Andrew (BSC.News):
So are you saying that I can use for example, CAKE tokens to mint USDM?
Dr. Marvin:
You can mint USDM with BUSD at our Genesis Launch, which will take place in late September-October, and in the future users can get 1Ā USDM by placing $1Ā worth of any Mars Treasury whitelist assets into the Mars Treasury at any time.
The whitelisted assets accepted by the Mars Treasury includes:
1. Stablecoin
2. Digital gold (BTC)
3. Layer-1 leaders (ETH, BNB, etc.)
4. DeFi Blue Chips (UNI, AAVE, etc.)
5. Mars Ecosystem Token (XMS)
Andrew (BSC.News):
Awesome, thank you for that clarification
So while we did talk about the issues that stablecoins face today my next question to you is
4. What is USDM and how does it solve the inherent problems that other stablecoins face?
Dr. Marvin:
First of all, Mars Ecosystem uses a two token system: The stablecoin of the Mars Ecosystem is USD-Mars (USDM), and the governance token is Mars Ecosystem Token (XMS).
The stablecoin USDM could serve as the reserve currency of the DeFi world, as any token aimed to be the reserve currency has to be stable.
The governance token XMS captures the value generated from the creation and circulation of USDM, and has a huge appreciation upside.
As i just said, USDM is generated through a minting mechanism. Users can get 1 USDM by placing $1 worth of Mars Treasury whitelist assets into the Mars Treasury at any time.
To solve the inherent problems that other stablecoins face, Mars Ecosystem has made the following unique innovations : Treasury assets classification mechanism & Mintage control mechanism & Anti-ābank run” mechanism & The integration of DeFi protocols and stablecoin into the same system.
These innovations give Mars Ecosystem the characteristics of high price stability, high degree of decentralization, and high scalability.
Andrew (BSC.News):
Very neat! Thank you for that explanation Dr. Marvin
Seems as though all of these steps have been very well thought through to ensure that users receive the highest quality of a stablecoin that you guys have to offer
Dr. Marvin:
Hahaha, ur welcome
Andrew (BSC.News):
So I found something interesting on your site that I wanted to ask you about
Dr. Marvin:
Yes. Users’ safety and experience is the most important for us.
Andrew (BSC.News):
5. What is the Hitchhiker, Captain and Ranger?
Dr. Marvin:
haha, thats actually something original of Mars ecosystem.
Andrew (BSC.News):
Let’s hear it!
Dr. Marvin:
“Hitchhiker” is the way we call our community members. š§š¼āš I don’t know if you have read the book “The Hitchhiker’s Guide to the Galaxy”
As you know, our project is called ” Mars Ecosystem”, and all our Hitchhikers areĀ taking off to Mars together. ššš
Mars Captain is the way we call our ambassador
We welcome users with Defi experience from all over the world to become our captain and build the MARS community together. We have prepared rewards for those active users in our community, such as token airdrop and special NFTs! If youāre interested in becoming a captain, please check:
mars-ecosystem.medium.com/mars-ecosystem-captain-program-5792e436de65
“Ranger” is the way we call our contributors to MARS’s technical content or engineering efforts.
At the same time, we also welcome experienced volunteers in other fields to join us and maintain community safety together! Anyone interested can contact us through our website. We will cooperate with the best bug bounty agencies in the world and we will not begrudge the bounty.
Andrew (BSC.News):
And you are THE one and only Dr. Marvin! š
But that’s great, sounds like there is a big emphasis on your guys’ part for the community and getting everyone involved
Dr. Marvin:
Yes!!!
Andrew (BSC.News):
Speaking of community…
6. What is your IHO feature? How does it incentivize users to use your platform?
Dr. Marvin:
IHO is initial holder offering. It allows projects to distribute their new tokens to the wider audiences as possible in a fairway. Projects benefit from increased exposure, easy token distribution and are able to focus on the most important thing, which is how to build value through their token and products.
The original intention of doing IHO is to provide high-quality projects for the Mars community, where users can obtain tokens for these projects at a preferential price.
We will be cooperating with great projects in the future to provide our community members with the best investing choices.
Andrew (BSC.News):
When partnering with these projects for IHOs, is there a vetting process in place to ensure that your users do not get rugged or buy into a project with undesirable tokenomics?
Dr. Marvin:
Yes, of course. We will conduct strict assessment on the cooperation projects.
Any project that wants to do IHO needs to fill out a form, and then our team will review the status of the project carefully.
š„ APPLY NOW
IHO:
Andrew (BSC.News):
Okay great!
7. How is your ecosystem unique compared to other platforms such as Pancake Swap?
Dr. Marvin:
Mars Ecosystem is a new decentralized stablecoin paradigm, it integrates the creation and use of stablecoin into the same system.
Mars Ecosystem consists of three parts: Mars Treasury, Mars Stablecoin and Mars DeFi protocols, which together form a positive feedback loop.
MarsSwap is the first in a series of Mars DeFi protocols, but it is not the whole of the Mars DeFi protocols, nor is it the whole Mars Ecosystem.
At present, MarsSwap plays the following roles in Mars Ecosystem: 1) Mars Treasury assets use MarsSwap to provide liquidity for Mars stablecoins and XMS. 2) Projects cooperating with Mars Farms, Mars Pools, Mars IHO use MarsSwap and Mars stablecoins to provide liquidity for project tokens. 3) The transaction fees generated in MarsSwap enter the Mars Treasury.
Andrew (BSC.News):
Okay so last but not least
8. Any exciting news youād like to announce here today?
Dr. Marvin:
Yes!!!
Mars Ecosystem just launched the Farms/Pools on the 1st Sept. And now the APR is still up to 1600%
You can not only stake $XMS in our Pool to earn, but also you can stake $CAKE and other PancakeSwap lp token to earn!
And we will be cooperating with more projects in the future, offer users sustainable farms/pools with high APR!!!!
In the $CAKEĀ and $XMS pools, the water is warm!!!
Pick up some #XMS in #MarsSwap & join us!
Andrew (BSC.News):
Fantastic Dr. Marvin
And would you be able to provide us with some links to your social media that the community can go check out for themselves?
Dr. Marvin:
Yes
š¦Ā Twitter:Ā
Telegram groups:
Turkishļ¼
šĀ Medium:Ā
šĀ Website:Ā
We will soon add another token to our Pools, user who can guess right which token we gonna add, can win a rewards of $50
Leave your commentĀ thereĀ to win the rewards!!!! ššš
Andrew (BSC.News):
Okay everyone make sure to go check out Mars Ecosystem and the links above to stay up to date on a new and exciting project looking to renovate the stable coin game and develop the future of DeFi!This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Source : bsc.news
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