Mars Protocol
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Mars Onboarding
Welcome to all Martians!
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Mars is a credit protocol for the future: non-custodial, open-sourced, transparent, algorithmic, and community-governed.
Mars has three primary components:
  1. 1.
    The Red Bank: Where users can lend and borrow assets (this is also known as collateralized borrowing).
  2. 2.
    The Fields of Mars: Where users can interact with applications built on top of the Red Bank such as leveraged yield farming (this is also known as contract-based borrowing).
  3. 3.
    The Martian Council: Where users with staked MARS (xMARS) can propose and vote on changes to the protocol.
Mars Protocol consists of various participants:
  • Lenders: Deposit assets into Mars liquidity pools, earning an interest rate
  • Borrowers (collateralized): Borrow assets from Mars liquidity pools using their deposited assets as collateral. These borrowers must therefore also be depositors (lenders)
  • Borrowers (contract-based): Smart contracts that borrow assets from Mars liquidity pools without posting collateral. Each smart contract credit line must be approved by governance and will include a credit limit to mitigate the protocol’s risk exposure
  • Martian Council: Stake MARS in order to earn protocol fees, participate in governance and backstop certain kinds of protocol risk
The motivation behind Mars is simple:
To become the leading DeFi credit protocol; becoming the lender of choice for both consumers and dApps.
Mars puts an emphasis on security and usability and composability -- not just for crypto natives but for the industry’s next 1 billion users.
Last modified 3mo ago
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