AMA RECAP — Whale Blockchain Enthusiast with Mars Ecosystem
On 13th September 2021, Mars Ecosystem conducted an AMA in the Whale Blockchain Enthusiast. Our guest is Koh, Indonesian Community Manager of Mars Ecosystem.
Lots of questions as usual from the Community about Mars Ecosystem progress. The Mars Ecosystem team took part in a very interesting AMA session which included Project introduction, Questions from twitter, and a live AMA session with the Whale Blockchain Enthusiast community. If you missed the AMA in person, read this recap for a deeper insight into Mars Ecosystem.
Let’s take a look at the most interesting points of our conversation.
🐳 Segment 1: Project introduction
Can you explain the role of each part have in Mars Ecosystem, such as Mars Treasury, Mars stablecoin & Mars Defi?
Koh | Indonesian CM: Yes, sure. 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.
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)
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.
Now you can already visit MarsSwap: https://app.marsecosystem.com/swap You can buy $XMS and earn in our Pools.
You can also stake your $Cake to earn $XMS . https://app.marsecosystem.com/pools
Where can we buy XMS? How do you ensure the security of your project to the users?
Koh | Indonesian CM: You can buy XMS at MarsSwap
📌 https://app.marsecosystem.com/swap
Security of assets is most importante for us Our smart contracts are audited by the best security auditors in the world: Certik and SlowMist.
Now the Certik and Slowmist Audit Reports of Mars Ecosystem are already out, you can check the below link:
https://certik-public-assets.s3.amazonaws.com/REP-MarsEcosystem-2021-08-25.pdf
Our smart contracts are very secure. 🚀
CERTIK I know they are the best audit among the others , what? Really? Amazing Koh 🔥😍
Koh | Indonesian CM: In summary, Mars Ecosystem’s contract does not have any issue in terms of functionality!👍🏻 We have communicated with Certik team one by one all the findings during all this time.
Can you provide a current roadmap? What about your project goals? what will be realized in the future?
Koh | Indonesian CM: Yes, 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 stake their XMS at our Pools to earn: https://app.marsecosystem.com
On the 1st Sep., we launched successfully Mars Farms/Pools. We designed a new economic mechanism for the farms/pools to make them more sustainable, and the APR is 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! https://app.marsecosystem.com/farms.
Starting from the launch of Farms/Pools, we will cooperate with BSC’s major DeFi protocol such as DEX, lending protocols, leveraged mining protocols, etc.
In September-October, 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.
Do you have a global ambassador program? How can I join?
Koh | Indonesian CM: 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.
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!
🐳Segment 2: Questions from the Twitter
Question from @Pabloesc0b
This is very interesting, Stake XMS earn BTC. Never before has any other platform done this. Why did Mars Ecosystem choose BTC, over other tokens/coins as earn ?
Koh | Indonesian CM: Yes! This is an innovative design of Mars Ecosystem, because we want to give the best&most exciting return to our community members. At present, only 25M addresses are believed to be economically active wallets that belong to $BTC owners. But now, as long as you hold $XMS, you can become one of them. Mars team uses this method to give back a lot of revenue to our early supports. We look forward to establishing a longer-term strategic binding with all XMS holders and building our Mars ecosystem with everyone.
Question from @Minyak_angin212
first of all congratulations to Mars Ecosystem on the very successful launch of farms/pools, but there was a slight problem with very high fees during Harvest so how do you solve this problem?
Koh | Indonesian CM: We have communicated with Dev and concluded that this situation is normal, because some additional data initialization needs to be done when the harvest request is accepted at the first time. But this will only happen for the first time. If users harvest again later, it will return to normal. At the same time, the R&Dwill consider whether there is a more gas-saving solution
Question from @Lemonadewr
As a very young and new project, how can you convince crypto users that your project is a project with lots of potentials and what competitive, unique or advantage features do you have that will attract investors from your users?
Koh | Indonesian CM: 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
And Mars Ecosystem just launched the Farms/Pools on the 1st Sept. And now the APR is still up to 2000%
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!!!!
Question from @Kavaserd
According to Medium, 461501 XMS will be distributed to stakeholders. The value, on the other hand, is fixed and can be claimed according to MarsSwap’s vesting schedule. Is there a charge for each withdrawal on MarsSwap? What is the vesting schedule’s maximum withdrawal time?
Koh | Indonesian CM: Community First Mars Ecosystem understands that community support is a key factor in determining whether Mars Ecosystem’s grand vision can be realized. According to this concept, we provided the early hitchhikers of the Mars community with better terms than the VCs and Institutions in our IMO in June (and the participants are already enjoying the profits. Thanks and cheers). Also according to this concept, 65% of the total supply of XMS will be distributed to the community in the form of community incentives.
For the success of the project, the Mars team, the institutional investors and the IMO participants choose to lock XMS for a long time:
1) The Mars team’s XMS tokens will be released linearly for 36 months, starting from Genesis Launch (After a month or so).
2) The institutional investors’ XMS tokens will be released linearly for 18 months, starting from Genesis Launch (After a month or so).
3) IMO participants’ tokens are released linearly for 6 months, starting on June 15th.
In line with the same goal to onboard long-term supporters of the Mars Ecosystem, the XMS rewards earned by users in Farms & Pools will be released linearly within 6 months (released every 3 days after the user Harvest). We hope that through this design, XMS tokens can be distributed to the true long-term supporters of the Mars Ecosystem in a sustainable way.
Question from @Alongrasau
is there a min/max limit for farms/pools and can you explain in detail/tutorial to join farm/pools ?
Koh | Indonesian CM: No, there is no minimum or maximum XMS that must be owned to participate in these pools! And for now the rewards will be in XMS. And Tutorial Please check here: https://docs.marsecosystem.com/general-faq/farms-pools
🐳Segment 3 : Free Asking / Live Questions
Telegram User @Cryptomanhunter
On September 12, Mars Ecosystem announced APR is up to 2000+%. Do you have any plans in the future to increase the APR even higher? For example like 4000% — 10000%
Koh | Indonesian CM: 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.
Telegram User @BelAnna_10
There are only 3 single coins (Pools) currently, namely:
• Stake XMS earn
• Stake Cake earn XMS
• Stake XMS earn BNB
Will in the future add more tokens for the program pools?
Koh | Indonesian CM: We added “Stake XMS Earn BTC” pools today, you can see here: https://twitter.com/MarsEcosystem/status/1437401444676775939
Our new BTC Pool’s TVL is hitting 1.2 Million within 15min.
In the future, of course, we will add more token choices, just wait for the announcement.
Telegram User @AzaExchange
Mars Ecosystem has launched Farm/Pools and Bug Bounty Programs. I want to ask in the future whether Mars Ecosystem has a Burn token program? Because this will certainly increase the price of XMS .
Koh | Indonesian CM: The innovation of this mechanism will also make our farms/pools more sustainable, and the miner will get rewards in a longer term than usual. We hope that users can get higher returns as our project continues to develop.
First of all, we will buy back XMS tokens via transaction fee. In the future we will burn our tokens to reduce the total supply.
Telegram User @Rober_guys
Users are very interested in the high APR in the Mars Ecosystem Farms and Pools program. I want to know what is your strategy going forward to increase more users, to participate in the Farm/Pools Program?
Koh | Indonesian CM: To increase users to participate in Farm/Pools, of course we will maintain a high APR. And continue to promote the Mars Ecosystem, one way is through the AMA. I believe By maintaining a high APR, in the future it will attract more users.
Telegram User @Agnisport
Currently only the major coins are on Farms. What if other projects want to register their tokens to be in Farms or pools. Does the Mars Ecosystem team have plans for another project to be there?
Koh | Indonesian CM: It’s in our plans for sure. But for now, we haven’t provided any further details to add another token. In the future, we will definitely announce it on all of our social media. Stay tuned.
For more information and future AMA, join our Social Media channels:
🐳 Whale Blockchain Enthusiast Group: https://t.me/WBEcommunity
🐳 WBE News: https://t.me/WBEnews
🐳 WBE Twitter: https://twitter.com/WhaleBlockchain
🐳 More information on Mars Ecosystem:
🔸Website: https://marsecosystem.com/
🔸Mars Swap: https://app.marsecosystem.com
🔸Twitter: https://twitter.com/MarsEcosystem
🔸Telegram EN: https://t.me/mars_ecosystem
🔸Telegram ID: https://t.me/marsecosystem_IDSA
🔸Medium: http://mars-ecosystem.medium.com
🔸Whitepaper: https://docs.marsecosystem.com
