Following the implosion of Luna the logical next step for Mars is to expand the protocol to another cosmos blockchain. Mars needs liquidity to function I think Osmosis is the best place to find it, another choice would be Secret network, lending a borrowing done privately could be a unique draw.
Luna may come back in the next 5 years or maybe we will all just move on, the Mars team has proven their ability, todays events are a test but survival is not impossible.
Which stablecoin to be used here?
I definitely do not want it to die, but Mars require a stablecoin to function too
I’d argue to move Mars Protocol to the Acala Parachain on Polkadot.
Technically, if we opt out of the Terra ecosystem, I don’t think Mars would need to move to another chain like osmosis, I actually think it’s possible for Mars to become a separate chain in the cosmos ecosystem @larry ??
Otherwise, most chains in the cosmos ecosystem have UST as the default stablecoin, so maybe something like evmos could be something to consider?
Mars to become a separate chain in the cosmos ecosystem
this imo is the best option
i have always believed Mars should become its own chain (even if Terra doesn’t go down)
speaking of stablecoins, there will be a Maker-style USD stablecoin on Agoric which will be available through IBC. EEUR is also there if custodial stablecoin is your thing
Yes，Mars should be its own Cosmos SKD app-chain, Mars will have greater potential in the Cosmos system.
Hi Larry, thanks for the comment. Very supportive of Mars building out it’s own chain. Are you able to opine on how this would impact an individuals current MARS/xMARS holdings? Would they be ported over and claimable at a 1:1 ratio, would there be a weighted airdrop, etc.? Any details you can share would be greatly appreciated.
Hi, I would like to know why Mars Protocol has set the default FEE to 0 for the withdrawals of the people who withdrew the USTs that were in the LOCKDROP, since the FEE is 0, the transaction cannot be made
I fully support Larry there.
As a money market, Mars is much more refined than Cosmos competitors such as Umee are, although it perhaps lacks connectivity to other chains and ecosystems. C2C Lending over IBC has massive potential IMO and deploying on its own chain will ensure Mars has plenty of bandwith for liquidation txs during downturns.
Stable-wise, I like the idea of Agoric’s. Another idea could be to partner up with FRAX to deploy an AMOs directly on Mars’s zone. FRAX gets yield, and MARS gets a resilient, somewhat-decentralized (partial USDC collateralization is not ideal) stablecoin which’s supply can locally adapt to the fluctuations of supply and demand.
@larry I am so happy to see someone from Delphi engaging the community.