Skip to main content

Martian Council

The Martian Council — consisting of votable $MARS held by Mars Hub validators and those who have delegated/staked $MARS to them — is at the heart of Mars Hub. The Martian Council holds staked $MARS votes to determine various matters related to the Mars Ecosystem (using IBC to directly control Outposts, where available), including to:

  1. approve Outposts (Red Bank and Mars Credit Manager smart contracts on other blockchains);
  2. set the adjustable parameters of the Red Bank and Mars Credit Manager on each Outpost, including by:
  • determining which tokens that are suppliable (as collateral) and borrowable on the Red Bank
  • setting the parameters governing each approved asset (the loan-to-value (LTV) ratio required for using the tokens as collateral to support leverage and the interest rates to be charged on borrowing the tokens, etc.); and
  • approving third-party smart contract systems such as AMM protocols (C2C Borrowers) and automated leverage strategies (Vaults) to utilize the Red Bank's C2C lending features and setting the risk parameters (LTVs, interest rates, etc.) for those systems;
  1. setting the portion of Outpost fees to be held in the Safety Fund and approving any disbursements to be made from the Safety Fund to cover "bad debt" or other applicable adverse events on Outposts; and
  2. spending, allocating or otherwise using the $MARS token community pool.

The Mars Council and its participants may be awarded $MARS and transaction fees (including protocol revenues from Outposts), as applicable, as compensation for their governance activities.