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.
| Basic | Details |
|---|---|
| Token Name | Mars Protocol Airdrop |
| Platform | Terra |
| Total value | 10,000,000 MARS |
| Total Supply | 1,000,000,000 MARS |
| KYC | KYC Is Not Requirement |
| Whitepaper | Click Here To View |
| Max. Participants | Unlimited |
| Collect Airdrop | Click Here To Collect Free Airdrop |
Step-by-Step Guide:
- Visit the Mars Protocol airdrop claim page.
- Connect your Terra wallet.
- If you’re eligible, then you will see a MARS button at the top right.
- Click on the button to claim your tokens.
- 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.
- The snapshot was taken on January 1st, 2022 at Terra block #5,895,050.
- 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.
- 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.
- For more information regarding the airdrop, see this Medium article.
MARS token
There are 4 stakeholders in the Mars Protocol ecosystem:
- 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
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 Field Of 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.
The Citadel
Your voice matters here.
Stake the Mars token (MARS) and earn the right to ascend to the Citadel and take a seat on the Martian Council.
There, you’ll help the protocol shape the very future, not just of our planet, but of the entire Terra galaxy and beyond.
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.
maTokenma
Mars Protocol Airdrop Token is a modified cw20 that is minted in representation of a deposited asset.Each deposited asset has a corresponding instance of the maToken and accumulate interest in the way that they are redeemable for an ever increasing amount of their underlying asset. The Red Bank can do forced transfers/burns when user positions are being liquidated. On each contract call that changes a balance, the maToken will call the incentives contract in order to manage MARS rewards
