Mars v1 launched on Terra with a novel credit primitive dubbed Contract-To-Contract (C2C) Lending.
Mars v2 operates on its own Cosmos-SDK appchain, Mars Hub.
Mars is a fully automated, on-chain credit facility governed by a decentralised community via a transparent governance process. All decisions regarding parametrization of the deployed Mars smart contract system are made by the Martian Council, composed of MARS stakers who put skin in the game to backstop certain kinds of protocol risk in exchange for a portion of the protocol borrowing fees. It offers two key services:
- Enabling borrowing and lending through the Red Bank.
- Enabling contract-to-contract (C2C) lending in the Fields of Mars. Other protocols can use the Fields to leverage smart contracts for different applications such as leveraged yield farming.
