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NewsBTC 2022-03-07 18:00:42

Mars Protocol To Launch On Terra, But Why MARS Has Seen A Massive Dump

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 high volatility. Nothing new for recently deployed protocols. However, some users have begun speculating about the possibility of early investors dumping their MARS tokens on future airdrop beneficiaries. On this matter, Delphi Digital’s José María Macedo said: Unfortunately, nodes Mars Protocol, Astroport_fi and other Terra dApps connect to are down so nothing the team can do right now. As a reminder, all Mars initial contributors are locked until next year, so pls stop spamming about “inside job”. Terra Co-Founder Do Kwon seems bullish on Mars Protocol long term development. Therefore, this recent price action could find support over the coming weeks and lead to potential price appreciation. For yield farmers, the protocol seems to provide several passive income strategies which could attract long term investors rather than specu...

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