We are pleased to announce our next AMA on October 7th 2021 at 05:00 PM UTC Time: Satoshi Club x Mars Ecosystem
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Mars Ecosystem Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Mars Ecosystem Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Mars Ecosystem
For more details:
Mars Ecosystem Website – marsecosystem.com
Mars Ecosystem Telegram – @mars_ecosystem
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
I saw your weekly report and it focuses on marketing, listing, and partnerships with other projects. Do you have any plans to launch or create an NFT or gaming platform soon?
Mars Ecosystem- you did said the fundamental protocols is positive externality. The cost of providing and maintaining stablecoins are incurred by the protocol and it’s users (minters, share holders, bond holders). Could you please explain to us how Mars Ecosystem solves this problem with the relationship between Mars Stablecoins and Mars DeFi platform of its positive feedback loop? What do you really mean by generates a flywheel effect? Please explain to us enthusiasts
I’ve found out that the projects ARPA and “Bella Protocol” are just two of Mars Ecosystem’s strategic partners. Now we all know that these two specific projects are not new to the cryptospace and are very popular espicially with ARPA, as they offer seamless blockchain and smart contract products since 2018. Can you describe the involvement of ARPA and Bella Protocol on your project? On what specific area, within the project’s sector, will they collaborate with you?
In terms of NFTs, Mars Ecosystem will introduce two NFTs namely the “Boarding Pass NFT” and the “Captain NFT”. Interestingly, Mars Ecosystem will not auction these NFTs, instead, they will be selecting lucky individuals from the community to receive these one-of-kind NFTs. May I know, how will Mars Ecosystem team will select the winners of this NFT airdrop? Also, how can we be eligible on winning those said NFTs? Is it possible for us to purchase the said NFTs after they have been airdroped?
Mars Ecosystem website stated that, “the redeemability of USDM is backed by the Mars Ecosystem Governance Token (XMS)”. Does this mean we have to be part of Mars Ecosystem’s community DAO in order to utilize your stablecoin and your products associated with it? What are the minimum requirements to be part of your project’s DAO? Could explain more further your stablecoin’s economics, accessibility and functionalities?
I read on your website that there is a role that we can get called “Captain status”. It says captains can earn rewards. I am interested in knowing… how can we become a Captain? What must we do in order to win that role? What are the tasks that the captain must perform? How can we collaborate with the MARS ecosystem to earn rewards?
As Mars Ecosystem aims to build the central bank of Defi world, what security measures have you put in place to ensure it is safe for users, knowing that most projects are being hacked into?
Apart from the incurred transaction fees generated at Mars Swap, what other ways, if any, are used to back the stability of Mars Stablecoin?
If someone is looking to buy or sell Mars Ecosystem token, what is the current and most active exchange to be used and why?
in the document paper about Mars NFT said that : Selected users can become a member of the Space Rider’s and establish an autonomous community via the MarsDAO. Their purpose is to assist the survival mission of mankind, create a highly autonomous Mars community, and establish and continue improvement & development of the interstellar financial system.
how to become a selected user? and what is Boarding Pass NFT uses cases?
You mentioned that Mars Ecosystem will select a certain number of users from those who have contributed to the community and airdrop the Boarding Pass NFT and the Captain NFT. Have those users already been selected or do we still have a chance to receive those NFTs if we contribute now? Will these NFTs be given over time or will they only be distributed once? Will they be selected giving priority to the users who have made the highest number of contributions during a defined time?
as I read, Mars Ecosystem will be launched on BSC soon, and a “Genesis Rocket Launch” will be held at the same time to celebrate the event. and so huge rewards will given to the participant. i really interesting with this, how to join the Genesis Event? how much to spend? and tell me about the calculation of the rewards, let says if i spend 100BUSD to treasury?
To encourage the use of its native tokens USDM and XMS, has Mars Ecosystem considered integrating a lending and staking system?
Have you considered integrating a lending and staking system to encourage the use of Mars Ecosystem’s native coins USDM and XMS?
i see some of partnerships and investor already support MARS Ecosystem Project, and that is good for make a project succesful, after this achievment, will you growth your partnerships? with who is your next partnerships? and what kind of partnerships that MarsEcosystem lookin for for near future?
There are two tokens on Mars ecosystem. Although dual token model is not a new concept, I am not familiar with a combination of a stable coin and a governance token. Could you please seperately explain the utilities of your stable coin, $USDM and the governance token, $XMS? What are the available options to purchase these two tokens? Is USDM pegged to USD? Please explain the reasons for introducing this type of dual token mode and the advantages we get by holding $USDM instead of USD. In the future, do you have plans to create more stable coins such as EURM, AUDM and GBPM?
Mars Economy plans to introduce Mars NFTs into the Mars ecosystem. You have created Boarding NFT Pass and Captain NFTs which you said you will Airdrop to selected members of your community. What will users do in order to become a beneficiary of these NFTs? How many NFTs will you release and what roles will these NFTs play in the development of an interstellar financial system? And apart from airdropping these NFTs to users, will you have a Mars NFT marketplace where user can buy your NFTs especially for those who may not get them from the airdrop you planned to do?
“XMS holders can determine protocol upgrades within the Mars Treasury through protocol governance votes.” with this benefits for XMS holders, how many XMS holders need to have for joining votes? and in what condition holders can do votes exactly?
There are four roles on Mars ecosystem, Hitchhicker, Captain, Ranger and Dr. Marvin. Although you have introduced them, it is not clear how can we achieve these levels. Could you please explain the prerequisites for each level? Do we need to hold a minimum amount of $USDM or $XMS? By the way, what are the advantages of achieving the levels? Do you distribute any rewards? Do you have plans to offer any learning materials to clarify this type of doubts?
What is Mars Treasury? According to the term “Treasury”, it seems you reserve some funds for emergency uses. Conversely, have you planned about a time period to utilize those funds? Transparency should be maintained when withdrawing the tokens from the treasury. Who have the responsibility on the security of these funds? Do you reserve both $USDM and $XMS? Please explain the main purpose of establishing a treasury. Will you add funds to the treasury in due course or did you keep a pre-determined allocation there? How do you prevent third party interventions to the treasury?
One of the features that you have introduced to ensure your stablecoin stability is an anti-bank run mechanism which you said can prevent large sell-off of stablecoin within a short period. Can you explain how you will maintain stability of USDM and how you will be able to prevent large sell off especially during situations where users may be apprehensive that the price may not return to $1? How do your asymmetry minting and redeeming process work and how does it prevent death spiral event or sell-off run under extreme market conditions?
Users will need to first deposit any of the 5 whitelisted assets into Mars Treasury before they are allowed to mint USDM. What are the criteria for whitelisting these treasury assets and why are these assets necessary for minting USDM when most of them are affected by volatility? Why are users only allowed to redeem $XMS and not their deposited assets? In addition, are users given an equivalent value of the present worth of their deposits during redemption especially when the price of their deposits have increased or will they redeem their deposit on a flat rate value of $1 irrespective of the increase or decrease that their deposited assets might have experienced?
You mentioned that everyone who owns the community governance token XMS automatically becomes a member of MarsDAO. Does this mean that there is no minimum amount of XMS required in order to become an official member of the MarsDAO? Will some users have more voting power than others based on the number of XMS tokens each has? Or will the voting power be equally distributed to each member of the MarsDAO?
At Mars Ecosystem,you want to make blockchain totally inclusive and interoperable.To achieve that,you started Mars Captain Program.Can you tell us more about this program/the requirement?Are all users Eligible to be part of the program and what rewards are given to those who participated?Is the program still on or has it ended?
In the Mintage Control the maximum circulating supply of USDM is determined & controlled by the market cap of XMS.My question is, what will you achieve by using this Mintage Control?Can you explain more on the XMS Support Ratio used in the Mintage Control and how effective is it when used in calculating the average market cap of XMS?
You successfully raised $2 million in seed funding.The round attracted investment from several major blockchain funds, including Continue Capital, Parallel Ventures, Kernel Ventures etc.So how will you use the funds raised to create a sustainable future for your project?What effect will this partners have on the various features of your project?And how will you ensure that the money received from the seed round is well spent and spent in the right way to help create bigger values to investors?
Nowadays, the ups and downs of crypto market are a common behaviour. Please let us know how Mars Ecosystem ensures USDM price stability under extreme market conditions? Have you elaborated any mechanisms or policies to make sure USDM does not make its customer being disappointe by the price changes? Thank you!
Masr Ecosystem includes multiple pieces of puzzle: Mars Treasury, Minting Control, DeFi protocols, governance token. There’s also a place for ТАЕ project, however it is not described in details as above mentioned initiatives. Please let us know what is in heart of Mars NFT? Can they be bought or you plan to distribute them as part of rewarding system? Thank you!
Hello Mars ecosystem team. The transaction fee on Mars Swap is 0.3%, 0.25% goes directly to LP and 0.05% goes to XMS holders who stake XMS at Mars Swap. Are there any other requirements besides having XMS tokens staked at Mars Swap to receive that distribution? Will we start receiving that distribution from the first day we have our tokens in stake? Will these rewards be distributed after each transaction or after a specified period of time? Thank you
Mars Ecosystem has the following unique innovations: Treasury assets, classification mechanism, Mintage control mechanism, Anti- “bank run” mechanism, The integration of DeFi protocols and stablecoin into the same system. Can you explain each of these innovative features offered by the Mars Ecosystem? What benefits does each of these features offer to platform users?
We’ve somehow gotten past the “to-the-moon” rage, and now many projects are stepping into other planets, with Mars being at the center of it all. So, how do you manage to stand out from the Mars protocols crowd? What are the unique traits that make your Mars ecosystem authentic? Are you focused more on the Mars visuals and space, or on releasing products and community rewards?
There is no decentralized stablecoin protocol that can satisfy all the properties (high price stability, high degree of decentralization, high scalability) at the same time. Specifically, the current decentralized stablecoin protocols can be roughly divided into the following three categories, algorithmic stablecoins, overcollateralized stablecoins, all other stablecoins. Do you think Mars economy can satisfy all the properties (high price stability, high degree of decentralization, high scalability) at the same time? In which category does Mars economy fall?
I understand that Mars Ecosystem implements a dual token method, with their stablecoin USDM, which is backed by their governance token, XMS. However, as a crypto newbie, even though the statement is easy to understand, the mechanism behind it feels quite complicated to me. I’d like to know how do you maintain or build the price of your governance token XMS? Is XMS not backed by anything? If it has price fluctuations, wouldn’t that consequentially affect the price of your “stablecoin”? How does it work, could you explain that in simple terms?
Mars Stablecoin (USDM) is price stable, capital efficient, scalable and decentralized. It is an over-backed stablecoin: the redeemability of USDM is backed by the Mars Ecosystem Governance Token (XMS). If XMS is a volatile token, how can a stable coin be backed to it and yet be securely stable in its price? What happens with USDM if the price of XMS drops, as would be normal?
On your website you mention that Mars Stablecoin (USDM) is price stable, capital efficient, scalable and decentralized. so, could you tell us what elements, strategies, methods and/or system allows all these characteristics to be met, tell us about the backups that make it possible to maintain USDM with all these qualities over time?
As I understand, Mars Ecosystem is an open and decentralized protocol that has a product called Mars Treasury, which provides funds for projects that contribute to the adoption of Mars Stablecoin. I would like to know, what are the requirements in addition to the one mentioned, to obtain the benefits provided through Mars Treasury, also tell us, how do you guarantee that each selected project is real and will not harm the image of the Mars Ecosystem?
On your website you point ot the importance of minters, share holders and bond holders for the maintenance of stablecoins. Therefore it is very important to keep this sector highly incentivized, can you explain the benefits of each of them in your ecosystem? What about short and medium term investors? What benefits could be obtained?
You mention on your website that the incurred transaction fees generated at Mars Swap are used to back the stability or Mars Stablecoin, but you do not explain the process in much detail, you can talk more deeply about the functionality of your fees, how they are distributed and how they can be adjusted in time according to the needs of the project? How can users contribute idead on this regard?
What are the benefits of belonging to the Mars Ecosystem, tell us about your protocol, what are its unique qualities, what problems does it solve, what opportunities does it offer to each type of user, what are the long term objectives and how do you demonstrate to investors that this is a profitable project in the long term?
I read that Mars Ecosystem’s goal is to build the central bank and reserve currency of the world DeFi, I would like to know what is your roadmap to achieve this goal, tell us a little about the progress you have achieved now and what you plan to achieve in two years?
What security system is used in Mars Ecosystem, could you tell us how do you protect your users’ investment, how do you avoid malicious attacks and what methods besides audits have you established to achieve a secure platform free of vulnerabilities?
Mars ecosystem has an important partership with Binance Smart Chain that gives it excellent credibility, however I would like to know what your intentions are in the future to actively participate in the exchange with other chains, is it possible the interoperability of your ecosystem in the near future?
The Mars protocol says decentralized everywhere, in fact, you encourage users to BUIDL together, so could you explain to us the participation of the community, holders and users in the decision-making of the project? How does the Mars governance system work?
Greetings, Mars Ecosystem, how to create and maintain a decentralized and fully scalable ecosystem on a stablecoin? what would be the strategy to maintain a stablecoin like Mars? What is Mars Ecosystem creating to keep Mars stablecoin at a scalable price? What problems would you solve by combining Mars Stablecoin and the Mars DeFi platform? Why is the Mars Stablecoin supported by ecosystem? You can give us more details and explain these functions.
Two of the unique innovation of Mars Ecosystem are the Mintage control mechanism and the
Anti-“bank run” mechanism. So,could you give us an overview and details about this two mechanisms in your platform? How does it work and being implemented with your platform? With your Mintage control mechanism,how does your platform manage to control minting of your token in unique way? While with Anti-“bank run” mechanism,how does this mechanism brings a greater impacts and advantages in your platform and to investors? Thank you
I found out that Mars Ecosystem will have a Bug Bounty Program in which it gives community engagement incentives. So,can you explain the mechanism and structure of your Bug Bounty Program?How can anyone participate with this Bug Bounty Program? What are the conditions of this program? What are the incentives and rewards that this Bug Bounty Program will brings to the participants? What is the main focus and purpose of this Bug Bounty Program? Thank you
Greetings Mars, my question is: what function does Mars Ecosystem Governance Token XMS fulfill within your project? What is the current value of the XMS token at this time and where is it listed to buy? Is it necessary to have XMS tokens to start on your platform or can we use some other cryptocurrency? What is the function of the token and how to make the best use of it to get the best out of it? How do they support the Mars Stablecoin, USDM and what is their function? You can give us more details on these points of the question.
In my research, I have seen that there is no collapse or decline in the Mars Ecosystem token. What is your success in keeping the XMS value at a constant price in the recent crashes and decreases that occur almost every d