Mars Ecosystem Weekly Report

Published on: 22.03.2022

A lot of achievements happened on Mars Ecosystem in the past week which are all successfull.

MarsEcosystem IHO with UpDeFi has ended successfully.
- Mars Ecosystem officially launched an IHO with UpDeFi on Monday at 12:30 UTC on the 21st of March. IHO with UpDeFi has come to an end with success with 597 participants. Following the completion of this round’s IHO with UpDeFi, 30 million XMS were immediately burned, which represents nearly 10% of the current circulating supply of XMS.

- - IHO Price: $0.045 per $UP, 1.5 $XMS per $UP
  - $UP vesting: Starts at 14:00 UTC on March 21. Linear vesting for 90 days on a block-by-block basis.
  - $UP Contract Address: 0xbAc79E308BadA146DE29f56E066a021cfFA00375
  - Total participants: 597
  - Total $XMS committed: 37,261,323 XMS

UpDeFi launched 22 vaults related to Mars Ecosystem with up to 3000+% APR.
Burned 30 Million $XMS after the Mars IHO.
- After Mars IHO, 30 million XMS was immediately burned, which represents nearly 10% of the current circulating supply of XMS.
The IHO project token $UP Price increased 6.4 times over within hours.
- After IHO, as users continued to buy the UP token, the $UP price quickly rose and reached $0.29, which is 6.4 times over the IHO price.

Mars Ecosystem

Mars Ecosystem is a new decentralized stablecoin paradigm, it integrates the creation and use of stablecoin into the same system. Mars Ecosystem consists of three parts: Mars Treasury, Mars Stablecoin and Mars DeFi protocols, which together form a positive feedback loop. Mars stablecoin is price-stable, capital-efficient, scalable and decentralized.

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