Mars Hub Goes Live to Provide Lending and Borrowing Services in Cosmos Ecosystem

Mars Hub – a Cosmos SDK chain went live on Mainnet on January 31. Mars is a credit protocol originally launched on Terra, and now launched its own application-specific chain in the Cosmos Ecosystem. The protocol offers overcollateralized loans with a two-slope interest rate model (similar to AAVE or Compound).

Mars Hub is a neutral coordination point for governance, staking, and network expansion. Mars is expandable to other Cosmos application-specific chains, starting from Osmosis, the leading DEX in the Cosmos ecosystem. Through Mars, users will be able to borrow and lend Cosmos ecosystem tokens on Osmosis. The protocol also feature Contract-to-Contract (C2C) lending, allowing for whitelisted smart contracts to borrow assets by the whitelisted contracts’ own assets rather than being collateralized by Mars Protocol’s deposits.

$MARS token airdrop is also claimable now to users who hold it during two snapshots on Terra Classic. And the first governance proposal to enable IBC + staking are headed to on-chain vote. IBC is the inter-blockchain communication protocol that enables one application-specific chain (the app-chain )to communicate with another app-chain. By enabling the IBC function, Mars Hub will join the Cosmos ecosystem.

However, there is still no UI to interact with Mars Hub, users can only use Cosmos tools and wallets to interact with $MARS tokens and the protocol governance. You can find methods to claim the airdrop in its blog page.