According to the blog post shared by the developers, it crashed Terra Classic (LUNC) Mars Hub, the main lending protocol on the blockchain, to Cosmos (ATOM) carried it.
The protocol will be made available on Osmosis, Cosmos’ largest decentralized exchange (DEX) with a total locked value (TVL) of $180 million. Users borrow and lend Cosmos-based tokens, while those who stake the MARS token will receive a portion of the fees as a reward.
Currently, the Mars Hub is only accessible on-chain. It does not have a user interface (UI) but has a management plan to incentivize liquidity providers on Osmosis.
New Network Airdrops have been sent to MARS Owners on Terra Classic (LUNC) Network
64.4 million MARS management tokens were unlocked and holders of the MARS altcoin on the Terra Classic network received an airdrop based on two past snapshots.
MARS tokens are currently only available on the Mars Hub chain, which does not have a DEX, so the tokens are not available on other cryptocurrency cannot be exchanged for units.
Mars Hub was one of several decentralized finance (DeFi) protocols that fell victim to the crisis that followed the collapse of the Terra ecosystem last year. More than $60 billion in assets evaporated when LUNA, the cryptocurrency at the heart of the Terra blockchain, collapsed after the TerraUSD (UST) stablecoin depreciated significantly.
Users will be able to claim these tokens for six months after mainnet launch via Station, Terra’s new cross-chain wallet.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!