Mars Protocol Enables Lending and Borrowing Function on Osmosis Chain

Mars Protocol deploys its Red Bank Outpost on Osmosis chain, bringing borrowing and lending function to the deepest-liquidity DEX in Cosmos. The Red Bank Outpost will allow users to lend the following tokens: $OSMO, $ATOM, and $alUSD, providing variable yield, and allowing users to take out over-collateralized loans against those assets.

Mars Hub is an application specific chain in Cosmos ecosystem which went live on Mainnet on January 31. It can deploy its Red bank, the lending/borrowing smart contracts, on other Cosmos chains through the Outpost function.

Osmosis is the largest decentralized exchange in the Cosmos ecosystem. The addition of a lending and credit function will make it a full service DeFi app-chain.