About Mars Protocol Airdrop
Mars Protocol Airdrop 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 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.
Mars 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.
| Basic | Details |
|---|---|
| Token Name | Mars Protocol Airdrop |
| Platform | Terra |
| Total Supply | 1,000,000,000 MARS |
| Total Value | 10,000,000 MARS |
| KYC | KYC Is Not requirement |
| Whitepaper | Click Here To View |
| Max. Participants | Unlimited |
| Collect Airdrop | Click Here To Collect Free Airdrop |
How To Join Age Of Mars Protocol Airdrop
First Step
Visit the Mars Protocol airdrop claim page.
Second step
Connect your Terra wallet.
Third Step
If you’re eligible, then you will see a MARS button at the top right.
Fourth Step
Click on the button to claim your tokens.
Fifth Step
Users who’ve staked at least 10 LUNA or held at least 10 bLUNA or LUNAX by the snapshot date are eligible to claim the airdrop.
Six Step
The snapshot was taken on January 1st, 2022 at Terra block #5,895,050.
Seven Step
Users who had at least 10 LUNA or held at least 10 bLUNA or LUNAX will be able to claim 18.47 MARS and users who had a balance greater than or equal to 20,000 LUNA or held a balance greater than or equal to 20,000 bLUNA or LUNAX will be able to claim 3694.64 MARS.
Eight Step
The rewards can be claimed for up to three months after the launch of Mars Protocol else will be returned to the Martian Council — a DAO of xMARS token holders.
Nine Step
For more information regarding the airdrop, see this Medium article.
A Brave New World
On Mars, there are no limits. Anyone, anywhere in the galaxy can lend or borrow crypto. Built atop Terra, Mars will be the first credit protocol to utilize dynamic rates that can adapt to changing market conditions. It will be the foundation for a new constellation of not just financial products but of governance and collaboration too.
MARS token
- 1.Lenders: Deposit assets into Mars liquidity pools, earning an interest rate
- 2.Borrowers (collateralised): Borrow assets from Mars liquidity pools using their deposited assets as collateral. These borrowers must therefore also be depositors (lenders)
- 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.Council: Stake MARS in order to earn protocol fees, participate in governance and backstop certain kinds of protocol risk
Staking — xMARS
Mars Protocol Airdrop holders who wish to participate in governance can stake their MARS tokens and receive xMARS in return, with an unstaking period of 7 days. xMARS has a few key properties:
- Governance: 1 xMARS = 1 unit of voting power. Only xMARS (and MARS that’s locked for Mars Joint Venture contributors) can participate in governance, making decisions on asset listing, risk parameters, treasury spending and more.
- Fees: xMARS holders will receive a share of protocol interest-rate revenue. Similarly to SushiSwap’s SushiBar contract, this will be done by using the revenue to buy MARS on the open market and adding it to the xMARS pool.
- Safety Fund: xMARS holders will be incentivized to backstop protocol risk by using a pool of reserved aUST (the ‘Safety Fund’) as a first-resort source of recovery for shortfall events and staked Mars as a last-resort source of recovery for Shortfall Events, with up to 30% of their stake being locked and sold in case of a shortfall event
Tokenomics
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.
