Mars Protocol Launches Token $MARS and Airdrop to $LUNA Stakers

TokenInsight news, Mars Protocol, the Terra credit lending protocol, announced that it will launch $MARS tokens via lockdrop, allowing users to lockdrop $UST into Mars' Red Bank after February 22nd in exchange for an upfront distribution of $MARS. It is expected that there will be 70 million $MARS (1 billion in total) in circulation when the lockdrop is completed on March 7. In addition, the protocol will airdrop tokens to $LUNA stakes, and $LUNA stakers (including $bLUNA holders) will receive a one-time distribution of 10,000,000 $MARS with a snapshot date of January 1, 2022. Eligible users will be able to claim and transfer their $MARS tokens on or around March 7.