Blockchain News

Terra Protocol’s Mars Network Set to Go Live

Terra Protocol Launches Mars Mainnet for Decentralized Lending Source: Coinscreed

The Terra lending protocol, Mars Hub, has announced that it will launch its independent Cosmos application chain on January 31st, issue MARS tokens to users who hold it during two snapshots on Terra Classic.

The mainnet will go live with 16 genesis validators and additional 34 slots for permissionless validators will be available post-launch to ensure a strong and decentralized network.

To protect the network from potential attacks, 50 million MARS tokens will be delegated to genesis validators for the launch and returned to the community pool one month later.

The launch is the final phase of a three-step process that began with a private testnet for developers and some community members, followed by a public testnet.

The first Mars outpost will follow on the Osmosis blockchain in early February. Users who held MARS on Terra Classic will be rewarded via an airdrop of 64.4 million tokens and will be available for 6 months after the launch via Station, Terra’s new interchain wallet.


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