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Mars Protocol Airdrop Review: A Fully Automated Lending Protocol

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About Mars Protocol Airdrop

Mars Protocol Airdrop is a credit protocol for the future: non-custodial, open-source, transparent, algorithmic and community-governed. Like banks, Mars aims to attract deposits and lend out this money while managing illiquidity and insolvency risk. Unlike banks, Mars is fully automated, on-chain credit infrastructure governed by a decentralised community via a transparent governance process. All decisions are made by the Martian Council, composed of MARS stakers who put skin in the game to backstop certain kinds of protocol risk in exchange for a portion of the protocol borrowing fees.

Mars Protocol is a credit protocol for the future: non-custodial, open-source, transparent, algorithmic and community-governed. It aims to attract deposits and lend out this money while managing illiquidity and insolvency risk. Unlike banks, Mars is fully automated, on-chain credit infrastructure governed by a decentralized community via a transparent governance process.

Mars Protocol Airdrop is airdropping a total of 10,000,000 MARS to LUNA stakers, bLUNA holders & LUNAX holders. Users who’ve staked at least 10 LUNA or held at least 10 bLUNA or LUNAX by January 1st, 2022 are eligible to claim the airdrop.

PlatformTotal value Max. ParticipantsWebsite
Terra10,000,000 MARSUnlimitedClick Here To Visit

Step No 1

Register for the Mars Protocol Airdrop, by creating an account.

Step No 2

Verify your email & log in to your account.

Step No 3

Take part in the referral program and invite 3 friends.

Step No 4

Join Mars Protocol on Telegram group & Telegram channel

Step No 5

Follow Mars Protocol on Twitter & like/share the pinned tweet and tag 3 friends.  

Step No 6

Like/follow Mars Protocol on Facebook & like/share the pinned post.  

Step No 7

Submit your details to the Cryptoenter Airdrop form. 

Contract-to-Contract Borrowing in the Fields of Mars

Traditional credit protocols offer relatively low interest rates to users. This is because they offer only collateralized loans which are capital-inefficient (low LTVs) and target a small market since they rely on lenders who also want to borrow. The Fields of Mars solves this by allowing the protocol to tap into a completely new source of borrowing demand: non-depositor borrowers.

Known as Contract-to-Contract (C2C) borrowing, this is expected to generate higher borrow demand and utilization rates and therefore higher yields for Mars lenders.

The first project that will be able to tap into this facility will be Mars itself. The C2C autonomous credit line will be used within Mars to offer users access to leveraged yield-farming strategies. These will allow users to do one-click farming with auto-compounding, and the option of adding UST leverage on top.

The Red Planet

As you cross over to Mars, you’ll find your station. This is your dashboard where you can review your portfolio, deposit or borrow cryptos and find interesting opportunities to earn yield. Once you’re settled in, you’re ready to explore everything Mars has to offer.

The Red Bank

The Red Bank is the lifeblood of Mars. A fully automated lending protocol, it runs on computer code 24/7 without human (or Martian) intervention.

It has the potential to accept any form of digital value for deposits and loans, from cryptos to synthetic stocks and beyond.

The Mars

For the adventurous, the fields of Mars whisper promises of riches. They give you a place to borrow crypto from the Red Bank and leverage your yield farming activities. Never before has this been possible on one protocol.

MARS token

There are 4 stakeholders in the Mars Protocol ecosystem:

  1. 1.Lenders: Deposit assets into Mars liquidity pools, earning an interest rate
  2. 2.Borrowers (collateralised): Borrow assets from Mars liquidity pools using their deposited assets as collateral. These borrowers must therefore also be depositors (lenders)
  3. 3.Borrowers (contract-based): Smart contracts that borrow assets from Mars liquidity pools without posting collateral. Each smart contract credit line must be approved by governance and will include a credit limit to mitigate the protocol’s risk exposure
  4. 4.Council: Stake MARS in order to earn protocol fees, participate in governance and backstop certain kinds of protocol risk

Token Distribution

A majority (70%) of MARS will be reserved for post-launch distribution to or management by users and other types of participants in the Mars community. 30% of MARS will be reserved for entities who participated in the joint venture developing Mars and the service providers of those entities.

MARS Value Flows

Initially, 80% of all interest payments will go to lenders, with the remaining 20% being split amongst the Safety Fund and xMARS stakers.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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