March, Terra Loan Protocol hits the mainnet

The official launch of the Mars Protocol will take place on the Terra mainnet on January 31. A chain of independent Cosmos applications will be launched. A crypto airdrop is planned for holders of Mars tokens.

The imminent launch of the Mars protocol announced on the project’s official Twitter account.

How will the launch of Mars Hub be?

In its Tweet dated January 20, the official account of the Mars project announces that the mainnet Mars Hub will be launched with 16 Genesis validators. Some of them include Cosmology, Block Pane, Chorus One, CryptoCrew Validators, Chill Validation, ECO Stake and others. In total, permissionless validators will have 34 additional slots after the Mars Protocol goes live.

We learned from CoinTelegraph that the event expected on January 31st is in fact the last phase of a process that contained three. The first was the launch of a private testnet for developers. Then, for the second phase, the testnet was launched for the public. In early February, the first Mars outpost will appear on the Osmosis blockchain.

An airdrop for token holders

For Genesis validators, 50 million MARS tokens will be allocated. But it will be just for the launch, since they will be donated to the community pool a month later. From the Mars Protocol tweet: This temporary delegation will help protect the network against attacks from a malicious validator who could potentially accumulate a large MARS delegation shortly after genesis and begin to manipulate on-chain transactions. “.

Holders of Mars tokens during the two historical snapshots on Terra Classic will receive airdrops. Thus, they will be able to claim them as soon as the Hub is launched. A total of 64.4 million tokens will be dedicated to it. For a blockchain, a snapshot is a file containing a record of its state at a given time. Indeed, it contains very important information such as transactions and addresses involved at that time.

We remember that the collapse of Terra Luna had caused the disappearance of 60 billion dollars from the crypto market. Thus, one can only be impressed by the revival seen at the moment, the Mars loan protocol has shown particular resilience. Is it there the strength of DeFi projects that we often hear about?

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