Place/Date: - September 1st, 2021 at 8:52 pm UTC · 3 min read
Source: Mars Ecosystem
With the explosive growing of Defi in popularity and adoption throughout 2021, there have been a huge number of advances in the way DeFi systems work. The pace of development on Binance Smart Chain (BSC) has been unprecedented. A huge number of successful DApps are fully operational with billions of dollars deposited in liquidity pools and yield farms on the network.
Mars Ecosystem – the world‘s first stablecoin Defi ecosystem will be launched soon on BSC. It’s created by a team with strong academic research back ground with leaders from the world’s best universities such as Stanford University. The team has developed an unique stablecoin based ecosystem, first of its kind, which combines stability with sustainability by integrating the funtionality of mint, stake, swap and farm with strong incentivization– this sets Mars Ecosystem apart from competitors.
Mars Ecosystem has gained strong financial support from silicon valley investors, 2 million US Dollars has been raised in seed funding from Continue Capital, Parallel Ventures, Kernel Ventures and YBB Foundation among others.This capital is being used to ensure that the platform can offer all of the benefits that were set out in the roadmap and also for future development oof the protocols.
Mars ecosystem incentivize the users through minting (USDM as the stablecoin), staking (XMS as the governance token),trading (swap of top Defi tokens) and yield farming (by providing liquidity in the pools)in its own ecosystem.The innovation of Mars ecosystem includes a well designed mintage control mechanism which will reveal itself during the stablecoin moulde that will be launched in the upcoming genesis event. Firstly the yield farming will be online to start rewarding the early participants.
Mars Ecosystem is implementing yield farming with a unique design to include liquidity providers in the ecosystem and the LP token holders of other protocols by providing high and sustainable yields with security.For example,the Cake holders and PancakeSwap LP token holders can stake and earn high APRs in this new farm. This expects to be both attractive to new and experienced investors by offering a pleasurable and financially secure opportunity to all.
Unlike many platforms which are releasing ‘beta’ versions with simple ‘invest at your own risk’ warnings. Mars Ecosystem has had all contracts fully audited by both Certik and SlowMist. No issues have been found and Certik’s SkyNet functionality will continually monitor smart contract implementations.
Mars Ecosystem will also soon be collaborating with Immunefi, the DeFi security experts, to offer a bug bounty for any issues that may be found within the ecosystem, as security is a serious priority for the platform.
Mars Ecosystem has joined BSC’s MVBIII (Most Valuable Builder) and with community support, the project is gaining momentum. By creating a platform on the Binance Smart Chain, Mars Ecosystem intends to utilize the support of BSC. By creating a platform on the Binance Smart Chain, Mars Ecosystem intends to fill the gap of BSC in the field of decentralized stablecoin and help BSC expand to other blockchains.
“MVB III aims at helping BSC-based startups grow into stable, reliable, and valuable parts of the crypto ecosystem during the heaviest traffic and retain low costs, and BSC infrastructure can deliver this.”