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AMA Recap with MARS Community

AMA Recap with MARS Community

Segment 1

Host: @Dr_Marvin please welcome our guest star yuhu ⭐️

MARS: Hello, guys!!! I am Dr. Marvin from Mars Ecosystem!🧑🏼‍🚀

Host: Hallo! Okay btw before i start the AMA. I have heard a goodnews from MARS! For the first year anniversary of BSC event on Sept.1th,Mars has already became one of 10 partners invited by BSC , and it is really amazing!! I believe Mars Ecosystem is a great project 🔥🔥🔥

MARS: Yes!!! 🚀

Host: YUHUUU!! BTW LET’S START THE AMA

MARS: Can’t wait!

Host: Would you explain briefly about this project?

MARS: Yes, of course. Mars Ecosystem was founded in the belief that decentralized stablecoins represent the long-term future of the crypto dollar over-centralized and regulated alternatives. However, decentralized stablecoins, even the most successful ones such as DAI, suffer from issues such as low capital utilization and scalability as a result of requiring over-collateralization. Mars Ecosystem aims to overcome these challenges with a stablecoin system offering high price stability, scalability, and a high degree of decentralization. Mars Ecosystem is the 1st Stablecoin DeFi Ecosystem. Our 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.

Host: Sounds good! I wonder what the name Mars Ecosystem in this project was inspired from?

MARS: That’s an interesting question! In the merge of the “solar system/multi-planets” finance protocols (Luna, Mercurial, Venus, Saturn…), “Mars” is the most popular item with cultural backgrounds and technological fantasies. We tend to explore the financial interests of the defi users by attracting them to Mars Ecosystem through the science-fictional concepts and “meme” culture. ☄️☄️☄️

Host: Can you explain Mars Ecosystem vision and mission

MARS: Yes! 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 further…🚀🚀🚀

Host: It’s great mate! then and how about the tokenomy?

MARS: The main purpose of our project is to build the central bank and reserve currency of the DeFi world. To achieve this goal, the 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. The value capture model of Mars Ecosystem’s governance token XMS includes the following ways.

1) Mintage control mechanism. The mintage control mechanism ensures that the market value of XMS is at least 2.5 times the circulating supply of USDM. How strong is this value capture method? At present, the supply of DAI of the Maker protocol is 4.8 billion, and the market value of its governance token MKR is 3.7 billion USD. If the Maker protocol also uses the mintage control mechanism created by Mars Ecosystem, the market value of the MKR corresponding to 4.8 billion DAI will reach 12 billion USD.

2) Mars Treasury control rights value. XMS holders can control the Mars Treasury through protocol governance, which makes the market value of XMS at least twice the value of the assets in the Mars Treasury to prevent common 51% attacks.

3) The transaction fees generated at the Mars DeFi protocols. When users trade on Mars DeFi protocols such as Mars Swap and Mars StableSwap, they will be charged transaction fees, which are partly assigned to the liquidity provider and partly assigned to the protocol. The protocol assigns these fees to XMS stakers through repurchase and redistribution of XMS and other methods.

Host: Yha soooooooo thx for ur answer at segment 1st. Hope it’s going great mate! and now the last questions in this segment. Btw, which exchange has Mars been listed?

MARS: Exactly some medium exchanges contacted us before and we did some negotiations with them. But Our current goal is to make sure our farming can provide flawless user experience and comparatively high APR with community,so Mars dev and mkt team mainly focus on preparation Work of farming. After farming launch successfully we will keep negotiating with exchange until we find appropriate one. Also, GeneGenesis Event will be held after farms launch successfully. Because farm will have positive impact on it.
Everything about Mars will be updated with community as soon as possible once that’s settled. 😊

Host: Wohooooooooooo! Btw Don’t forget to join and follow all socmed of MARS! https://t.me/marsecosystem_IDSA

Segment 2 (Questions from Twitter)


@Asepramdhani002
: Recently I saw MARS ECOSYSTEM consists of three parts: (Mars Treasury, Mars Stable Coin and Mars DeFi protocol), my question Can you explain what these 3 parts mean?

MARS: Yes, of course. Mars Ecosystem Consists of three parts:Mars Treasury, Mars Stable Coin and Mars DeFi protocols. Mars Treasury: The USD stablecoin of the Mars Ecosystem is USD-Mars (USDM), and the governance token is Mars Ecosystem Token (XMS). USDM is generated and destroyed through the minting and redemption mechanisms implemented. Users deposit their assets into Mars Treasury when minting USDM, they deposit USDM to recieve assets from the Mars Treasury. The unique aspect of the Mars Ecosystem is the implementation of a treasury assets classification mechanism. When minting USDM, users need to place $1 worth of any Mars Treasury whitelist assets into the Mars Treasury.

The whitelisted assets accepted by the Mars Treasury are divided into the following levels:

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)

Mars Stable Coin: USDM is generated through the contracts minting mechanism. Users can get 1 USDM by placing $1 worth of any Mars Treasury whitelist assets into the Mars Treasury at any time. And USDM is destroyed through the contract redemption mechanism. Users receive $1 worth of Mars Ecosystem token (XMS) by returning 1 USDM into Mars Treasury at any time. Mars DeFi protocols: The Mars DeFi protocols include the DeFi platforms such as Mars Swap and Mars StableSwap that are necessary for USDM to realize the basic functions of a stablecoin — being a medium of exchange and store of value.

@naimliad: Is your project a local project or a global project? Can anyone use your services from anywhere in the world? Is there any restrictions of using your service?

MARS: Thanks for the question. Mars Ecosystem is absolutely for global people. We have no geographical restrictions and our goal is to bring Financial Stability and Transparency to the world economy! Together we can live a better world! ❤️

We have Telegram Groups in different languages:

English: https://t.me/mars_ecosystem
Chinese: https://t.me/MarsEcosystem_CN
🇮🇩Indonesian: https://t.me/marsecosystem_IDSA
Vietnam: https://t.me/marsecosystem_vietnam
Persian: https://t.me/marsecosystem_iran
Turkish:https://t.me/marsecosystem_turkey


And you can read our white paper in English, Chinese, Indonesian, Turkish, Vietnamese here:
https://docs.marsecosystem.com/

@naimliad: I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, do you have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?

MARS: Thanks for your question, and you are most welcome here in Mars Ecosystem!! Once our smart contract is launched, we will cooperate with the best bug bounty agencies in the world and we will not begrudge the bounty. 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.

Now the Slowmist Audit Report of Mars Ecosystem is already out, you can check the below link:
https://www.slowmist.com/en/security-audit-certificate.html?id=8fe85271a27889e07bdf11f3bc1d04eb76521bc7530a3eac86141d7bef6751cd

@annamuskto: What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?

MARS: The goal of Mars Ecosystem is to build the central bank and reserve currency of the DeFi world. Our priorities in 2021 is:

🌟 Build a strong and motivated Mars community
🌟 Expand Mars Ecosystem by doing more cooperation with other DeFi protocols and Launch Mars Stableswap, which is an DEX for stablecoins exchanges. Launch Mars FixedIncome, which is a fixed-rate lending protocol and
🌟 Expand our protocol to more public chain such as Ethereum, Solana, Avalanche, ICP, etc….

On 14th-15th June, we successfully finished IMO and IDO on Mars Ecosystem & BakerySwap & Helmet.insure to distribute our token to early supporters. Now users can trade on MarsSwap and XMS holders can start to stake their XMS to earn at MarsSwap: 📌 https://app.marsecosystem.com

In August, we will launch Mars Farms/Pools. We designed a new economic mechanism for the farms/pools to make them more sustainable, and the APR will be relatively high compared with some other well-known projects. In this way, users can get higher profits in a long-term period. Beside XMS holders, Cake holders & PancakeSwap LP tokens holders can also earn XMS with high APR! Mars Farms/Pools will be online within days, please stay tuned!

Starting from late August, we will cooperate with BSC’s major DeFi protocol such as DEX, lending protocols, leveraged mining protocols, etc.

In September, Mars Ecosystem will launch our Stablecoin with a 🚀”Genesis Launch” event. Users can mint USDM and earn XMS rewards.

In Q4 2021, we will launch Mars FixedIncome, which is a fixed-rate lending protocol. We will expand our protocol to other major blockchains, like Avalanche, ICP, etc.

@404pagewrong: It seems we know that Mars Ecosystem will launch the Farms/Pools program in the near future. This program will be successful if many users participate. What marketing plans will be carried out in the future to attract more users to participate in the program?

MARS: Yes, Mars Ecosystem will launch the Farms/Pools very soon!!! First of all, we have our own DEX: https://app.marsecosystem.com You can buy our token and stake to earn. First of all, the APR of our farms/pools will be relatively high compared with some other well-known projects. Many of them are relatively stable, but the APR won’t be that high. Besides, we all know that once more miners participate, the APR will be lower. To solve this problem, we designed a new economic mechanism for the farms/pools to make them more sustainable, and the pool won’t easily collapse. In this way, users can get higher profits in a long-term period! In summary, compared with the farms/pools of other projects, ours are safer, with higher APR, and much more sustainable. You will see the exact APR when the farms/pools are launched, which is undoubtedly very attractive! We will announce the specific LP Tokens acceptable to farms/pools as soon as possible. Please follow our Twitter and stay tuned! What we can ensure you now is that: MarsSwap LP token and PancakeSwap LP token will be acceptable in Mars farms to earn. 🔥🔥🔥

Host: Can’t wait, mate!

Segment 3 (from Cryptoiz Indonesia group member)

Member 1: Does your project support staking program? if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform? Do you have a Token Burning plan to increase Token value and attract Investors to invest?

MARS: Yes, now you buy XMS at: https://app.marsecosystem.com/swap
And you can stake your XMS to earn at: https://app.marsecosystem.com/stake

Soon we will launch Mars Farms/Pools. The APR of our farms/pools will be relatively high compared with some other well-known projects. And at that time, you can stake your XMS in Pool to earn with higher APR.

Member 2: Does your Project have a marketing strategy to expand on social networks to reach more Investors and your Project community? And how will you handle it? How important is community support for the your Project project?

MARS: Yes! The role of the community is crucial. Both our team and our investors attach great importance to the long-term development of our community.
Everyone who owns the community governance token XMS can become a member of MarsDAO, and participate in the governance of the community with the spirit of exploring outwards. At the same time, 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 you’re interested in becoming a captain, please check:
https://mars-ecosystem.medium.com/mars-ecosystem-captain-program-5792e436de65

Great things are on the horizon and together we will build a New Decentralized Stablecoin Era!

Member 3: How secure is your platform to use? Have you done audits of smart contract? What security measures are adopted from bugs of smart contract and hacking?

MARS: As Mars Ecosystem aims to build the central bank of DeFi world, we take the security of user assets above all else. Specifically, the user’s assets are protected by the following:
1) Most of the DeFi hacks are just repetitions of the old tricks and could have been avoided if the developers have fixed the bugs once the exploits happened in other DeFi protocols. Our developers are well aware of all the past DeFi hacks and are keeping track of all the new ones so that we know all the potential attack vectors and avoid them when developing our smart contracts.
2) Our smart contracts are audited by the best security auditors in the world: Certik and SlowMist. Our smart contracts won’t be launched until they pass all the audits with green light.
3) Bug bounty is very effective in finding bugs: Fei protocol’s bug bounty program recently discovered a bug that could have drained 600 million worth of ETH from Fei protocol’s treasury. Like i said before, we will not begrudge the bounty.

Member 4: I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate?

MARS: At Mars Ecosystem, we want to make blockchain totally inclusive and interoperable. Join us, help build a better Ecosystem and earn rewards for it!
Mars Ecosystem is a new decentralized stablecoin paradigm. It integrates the creation and use of stablecoin into the same system. We believe that stablecoin can power a better, more acceptance, but we can’t do it alone. Join us on this mission and help us build a better Ecosystem and start earning rewards!
If you’re ready to dive into the exciting world of the blockchain industry, we’re here for you! You can apply to become one of Mars Captains here: https://mars-ecosystem.medium.com/mars-ecosystem-captain-program-5792e436de65

Member 5: What is your plan for global expansion? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

MARS: Mars Ecosystem, a new decentralized stablecoin paradigm.
Join our multilingual communities:

📖 Read our white paper here: https://docs.marsecosystem.com/

🇹🇷Whitepaper’ı buradan okuyabilirsiniz:
https://docs.marsecosystem.com/v/tuerkce/
💭 Mars Ecosystem’i Türkiye Topluluğuna buradan katılabilirsiniz:
https://t.me/marsecosystem_turkey

🇮🇩 Baca white paper kami di sini: https://docs.marsecosystem.com/v/indonesian/
💭 Bergabunglah dengan Komunitas Mars Ekosistem Indonesia:https://t.me/marsecosystem_IDSA

🇨🇳白皮书:https://docs.marsecosystem.com/v/zhong-wen/
💭 加入中文社区:https://t.me/MarsEcosystem_CN

Host: MARS is a great project! Thx for your great explanation about this project 🔥🔥🔥 @Dr_Marvin

Good day & Good night for us Cryptoiz Indonesia! Happy weekend! 💋

Ma pleasure to have u here with us @Dr_Marvin

MARS: Thank you guys!!! Thank you for hosting @Dindakadh And thank you for translating @Beverlykitchen !!!

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