Mars Protocol News & Announcements
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RT @larry0x: If you’re visiting @mars_protocol booth at #cosmoverse2022, make sure to scan the secret QR (displayed on the TV) to claim a badge! https://t.co/8yryQI7c9J
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Sep 27, 2022
πŸ›°οΈ @CosmoverseHQ now streaming live Head of Delphi Labs @ZeMariaMacedo is scheduled to appear in ~2 hrs. Full agenda: https://t.co/wNkZBXw6Lv https://t.co/378X3Pjvdn
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Sep 27, 2022
Martians tune in, the session is about to startπŸ‘‡ https://t.co/ySbvpGKFov
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Sep 27, 2022
RT @BitesDigitalGrp: πŸͺ#Cosmosverse is here 🚨 While you're digesting all the alpha and amazing MedellΓ­n food, we've got an interview with @larry0x @mars_protocol contributor and @osmosiszone validator cooking up. 🧐Why build on #Cosmos $ATOM? πŸ—£οΈHear the truth from @larry0x. https://t.co/J9InF3CpKT
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Sep 27, 2022
RT @jedeline: @mars_protocol hub and outpost model is absolute πŸ”₯for managing multi-chain Defi positions from a simple UI. https://t.co/xtERNUrlxF
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Sep 27, 2022
1/ Mars v2 introduces a radical new DeFi primitive to Cosmos: Rovers Engineered to operate in the cosmos’ harshest environments, rovers aim to give their pilots DeFi superpowers to navigate new, uncharted worlds. Here’s how… πŸ§΅πŸ”» https://t.co/X63YA2O0oG
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
2/ With the right integrations & approval by governance, anyone could launch a rover to engage in: πŸ”΄ Spot trading πŸ”΄ Margin trading πŸ”΄ Lending & borrowing πŸ”΄ Other DeFi integrations such as lev. yield farming All in one decentralized credit account with one liquidation point.
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
3/ Rovers are powered by whitelisted smart contract "credit lines" approved by the Martian Council to borrow from Mars’ Red Bank. That means when you mint and fund a rover, you would be able to access your favorite DeFi activities on any fully supported Cosmos chain.
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
4/ The approach builds on the primary innovation in Mars v1: Contract-to-contract lending in the Fields of Mars. C2C lending let whitelisted smart contracts borrow from Mars lending pools for pre-defined purposes without first depositing collateral directly into the Red Bank. https://t.co/1FmhJbq4kc
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
5/ While this provided a powerful generalized credit primitive, users could not cross-margin between different C2C strategies. That lead to: πŸ”΄ A sub-optimal borrower experience πŸ”΄ Separate collateral for each position πŸ”΄ Managing liquidation levels for each strategy
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
6/ Instead of posting separate collateral for each strategy… What if a user’s positions and strategies could be combined into a single vehicle with a single liquidation point on any supported chain? Enter rovers.
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
7/ Rovers are designed to be: πŸ”΄ Isolated credit accounts πŸ”΄ A place to aggregate DeFi activities πŸ”΄ Subaccounts w/ a single liquidation LTV πŸ”΄ Bundles of on-chain transactions πŸ”΄ Represented by transferable NFTs
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
8/ Rovers would enable: πŸ”΄ A "subaccount"-like experience on centralized exchanges in a decentralized setting πŸ”΄ Cross-collateralization bw different C2C strategies (use your spot longs as collateral to leverage yield farm, for example) πŸ”΄ Integrations with other DeFi primitives
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
9/ By enabling the full spectrum of DeFi activities in a single Rover credit account, users would have more control and greater capital efficiency than they might on centralized exchanges. https://t.co/f61X7Cq54q
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
10/ As a bundle of on-chain transactions, each rover credit account would be represented as an NFT. This unlocks an exciting possibilities including: πŸ”΄ Transferring or selling rovers πŸ”΄ Fractionalization πŸ”΄ Social proof πŸ”΄ Credit scoring πŸ”΄ Collecting historic/epic rovers
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
11/ In short, rovers are DeFi rebundled. When fully implemented, they’ll represent the next evolution in capital efficiency and user experience (UX) for traders and yield farmers throughout the cosmos. https://t.co/gsJFqhQhw0
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022
πŸ”΄ Remember, Cosmos and Mars are experimental technologies. This post is subject to and limited by the Mars disclaimers, which you should review: https://t.co/ubapgSNIS1
β€” Mars Protocol | Cosmoverse Sept 26-28 πŸ‡¨πŸ‡΄ (@mars_protocol) Oct 4, 2022