After a short pause, we're back with another Spotlight. We're going for a short trip to Mars, to learn more about the Mars Ecosystem and their open and decentralized finance protocol with the USDM stablecoin. Mars Ecosystem is one of the winners of #MVBII September Monthly Stars.

Let's get into it!

Spotlight on Mars Ecosystem

IMPORTANT: Please note the following content does not constitute an endorsement or approval of any of the products, services, or views of the project, organization, or individual interviewed in this article.

https://marsecosystem.com/home

Hey, we're happy to be here, and hello to everyone reading this. First, let me say that we are very privileged to win the Monthly Stars for September and want to thank our community for their support!

Mars Ecosystem is a new decentralized stablecoin paradigm that brings a complete paradigm shift to the current stablecoin protocols. Its goal is to propose a stablecoin system that can solve the positive externality and integration problems. The protocol ensures high price stability, a high degree of decentralization, and future scalability. Mars is committed to providing the solutions for the existing pain points of the DeFi industry.

Mars Ecosystem consists of Mars Treasury, Mars Stablecoin, and Mars DeFi protocols. It integrates the creation and use of stablecoin into the same system. In September, we launched our first Farms & Pools, and the TVL already reached $500M.

Our vision & mission: The goal of the 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 push it further.

The space theme is quite common on Binance Smart Chain, and it also seems to be the next frontier of human civilization; your name matches this trend. How did you come up with Mars Ecosystem?

In merging the solar system/multi-planets-inspired finance protocols (Luna, Mercurial, Venus, Saturn...), Mars is the most popular, thriving with cultural backgrounds and futuristic fantasies.

We tend to explore the financial interests of the DeFi users by attracting them to Mars Ecosystem through science-fictional concepts and meme culture.

Mars Ecosystem is a new decentralized Stablecoin paradigm proposed by our team after long-term research on DeFi, especially after studying many Stablecoin protocols. Why do we propose a new Stablecoin paradigm? That's because we see that all decentralized stablecoin protocols in the market have some fundamental flaws. If these flaws are not addressed, it will be challenging for decentralized stablecoin protocols to replace the centralized stablecoin protocols and to occupy the trillions of market space.

Can you introduce us to your team? Who are the brains building all of this?

The Mars Ecosystem team is a group of talented and passionate industry insiders with a solid finance and blockchain technology background, especially DeFi. Years of cross-terminal experience level up the high efficiency of co-working.

John, the CEO & Founder of Mars Ecosystem, is an avid fan and researcher of DeFi, who has studied a Ph.D. in Finance at Stanford University and has many years of experience in the financial industry. John is very familiar with the theory and practice of economics and finance.

After getting in touch with blockchain and DeFi years ago, John really appreciates the opportunities they bring to the financial industry and even to the whole world from a technical perspective. In DeFi, he focuses on stablecoins and has paid attention to and participated in many iconic stablecoin projects since the early stage.

He discovered that various stablecoin protocols face trade-offs in terms of price stability, degree of decentralization, and scalability. And there are also two fundamental problems in common: one is the positive externality problem, and the other is the integration problem. So after a lot of research and observation, John decided to bring a brand new decentralized stablecoin paradigm to the DeFi world.

Thanks for a more in-depth answer on the background of your team. What are the main advantages of the Mars Ecosystem for the user compared to a similar project from a mainstream financial market?

The mechanism design of the Mars Ecosystem considers all of these goals and questions and gives a new answer. The native stablecoin is integrated within all three components of the Mars Ecosystem by its unique innovations: Treasury assets classification, Mintage control mechanism, Anti-"bank run" mechanism.

Integrated native stablecoin within the DeFi protocol to avoid the long-existing low level of capital utilization, scalability, and decentralization.

For more details, read our whitepaper.

You're dealing with a significant TVL. How do you protect your users' assets?

As we promised when we launched Mars Ecosystem, ensuring the safety of user assets is our top priority. We attach great importance to the attack vectors that our innovations may bring, and for this, we have conducted multiple tests and audits.

First of all, our smart contracts are audited by the world's best blockchain and smart contract security auditors: Certik and SlowMist. Mars Ecosystem keeps the position No.1 in Certik's Security Leaderboard on BSC.

We also launched a bug bounty program on Immunefi, DeFi's leading bug bounty platform, to attract whitehats and security experts to help us improve our security.

You can see our Certik audit here, and Slowmist audit here.

It's great to see that you stick to your promises and continuously work on your security. Now, let's say I want to start on Mars Ecosystem. What should be my first steps?

Mars Ecosystem provides an all-in-one service for users to stake and earn.

You can buy $XMS from Mars Swap. You can directly go to our dApp at https://app.marsecosystem.com/home and connect your wallet.

Inside, you can go to the Swap menu and use BNB, BUSD, or crypto of your choice you want to use to buy XMS.

After that, you can stake your $XMS in our Pools and Farms.

Now let's get a bit more technical. Why did you decide to build on the Binance Smart Chain?

We noticed BSC's exceptional story of growth and saw it as an excellent playground with a good user experience. Its characteristics make it a suitable carrier for Web3 applications. The more we knew about BSC, the more we were excited because we felt it was a real solution that addressed actual pain points faced by large community segments, such as high fees or slow tx times. Besides, BSC is highly compatible with ETH, and we're a cross-chain ecosystem. And we know that there will be more well-developed infrastructure on BSC soon! We truly believe that the public interest in BSC will continue in the future, and Binance Smart Chain is just at the beginning of something grandiose, and we'd like to be part of it!

The interoperability of Binance Smart Chain offers users and developers the opportunity of accessing a vast ecosystem with a myriad of use cases across different blockchains. Interoperability is one of the key features held in high esteem by DeFi proponents, and Binance Smart Chain is at the forefront of making this possible.

What do you hope to see next from the BSC community?

At present, the Binance Smart Chain has formed an ecosystem based on DeFi, NFT & GameFi, and infrastructure, with more than 1,000 projects based on BSC. There are dozens of DeFi projects on the BSC and continue to increase, covering decentralized exchanges, on-chain lending, synthetic assets, derivatives, cross-chain, oracles, insurance, payment, and other fields. These ecological landing applications are its foundation. With the help of various applications, BSC can expand its strength without limit.

In the future, we hope to see the interaction of different dApps and the corresponding transfer of assets across these applications, powered by the bridges that BSC is building.

And the last question to end this remarkable interview is: Can you imagine Mars Ecosystem venturing into other markets such as GameFi?

Mars Ecosystem will participate in this trend without hesitation. We already have a plan on it: Mars Ecosystem will select a certain number of users from those who have contributed to the community to airdrop our limited Boarding Pass NFT or Captain NFT of our first Spacecraft. Those who get it will join the Mars Ecosystem on Genesis Spacecraft 1 and jointly create our MarsDAO community.

In the future, Mars Ecosystem will also empower different levels of NFT, so stay tuned!


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