Mars Ecosystem Raises $2M to Develop DeFi Stablecoin Protocol
Mars Ecosystem, a new project aiming to overcome the challenges of decentralized stablecoins, is pleased to confirm it has successfully raised $2 million in seed funding. The round attracted investment from several major blockchain funds, including Continue Capital, Parallel Ventures, Kernel Ventures, and YBB Foundation, among others. Mars Ecosystem will now use the funds to […]
Related News
Projects associated with Terra suffer losses of more than 80% as contagion spreads. Meanwhile, Maker (DAI) gets a boost as traders look for other decentralized stablecoin options. The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered. The forced selling of the Bitcoin (BTC) holdings backing a portion of UST also influenced BTC's current drop to $29,000 and analysts fear that DeFi platforms that have....
Ruling the headlines on the BSC network is now a norm for the Mars Ecosystem. Armed with some of the highest APRs in the DeFi space and an ever-growing TVL, the team recently earned a Monthly Star in the Binance Smart Chain “Most Valuable Builders” program and is working towards reinventing the utility of Stablecoins. With BSC supporting Mars’ products and technology, it adds a layer of credibility to the constantly evolving Mars ecosystem. In this write-up, we will deep dive into stablecoins and what Mars Ecosystem means to the future of DeFi and crypto. Stablecoins were first....
Decentralized credit protocol Mars is set to launch today, March 7th, on the Terra ecosystem. One of the most hype projects in the crypto space, Mars will bring the financial services of a legacy financial institution without its tradeoffs. Related Reading | Terra (LUNA), Quant (QNT) Pull Up As Avalanche (AVAX) Nosedives In addition, users that interacted with the Mars Protocol are eligible to receive an airdrop of their governance token, MARS. At the time of writing, the token that will provide this protocol’s community with decision power over future proposals trends downside with....
Crypto heavyweights including Three Arrows, DCG, Delphi Digital and Crypto.com Capital joined Hubble Protocol’s funding. The Solana (SOL) network is ready to see the mainnet launch for another decentralized finance (DeFi) protocol, aimed at Web3 development and backed by bigshots from the crypto industry.Hubble Protocol, a project aiming to develop a censorship-resistant crypto-backed stablecoin among other DeFi services, has raised $10 million from Three Arrows / DeFiance Capital, Delphi Digital, Digital Currency Group (DCG), Crypto.com Capital, ParaFi, Jump Capital, Decentral Park....
Terra’s “liquidity bootstrapping pools” were meant to prevent DeFi protocol token pump and dumps at launch but the model is not as effective as expected. New protocols are launching everyday on different networks in the crypto space and the trend is likely to continue through this year. When looking at the top 5 networks by total value locked (TVL) — Ethereum, Terra, Binance Smart Chain (BSC), Avalanche and Solana, according to data from DeFiLlama, Ethereum have 579 protocols (including L1 and L2); Terra has 25, BSC has 348, Avalanche and Solana have 187 and 64 protocols respectively. The....