Today, Mars Hub, the original lending platform of the failed Terra blockchain, is being revived on the Cosmos platform.
Mars Hub’s lending protocol will be available through Osmosis, the largest decentralized exchange (DEX) of the Cosmos ecosystem.
Using this platform, users will be able to borrow / lend with Cosmos-based tokens, and users who stake MARS tokens on the platform will also be able to share in the transaction fees on the platform.
Currently, Mars Hub, which does not have a user interface, can only be accessed at the blockchain level.
64.4 million tokens have been unlocked for the governance of the MARS platform. These tokens were airdropped to users who had the MARS token at the time of Terra.
MARS tokens are currently only available on Mars Hub and the platform does not have its own decentralized exchange. Therefore, users cannot transfer these tokens in exchange for other cryptocurrencies.
Mars Hub was one of many different DeFi protocols that took a hit during the collapse of the Terra ecosystem last year. With the collapse of Terra USD (UST), $60 billion worth of the LUNA token, which is at the heart of the Terra ecosystem, was lost.