AFAQ (Answering Frequent Astronaut Questions)
Fellow travelers, we are on a mission to boldly go where none have gone before, TO THE MARS!
Because an informed astronaut is a successful one indeed, we would like to highlight and answer a few questions that regularly come up in our astral-bound community.
Why does the Mars token have value? What determines Mars diamond pool APY?
In addition to being a governance token, Mars is the first defi token to divert the excess hashrate from unstaked tokens and route them to the Mars diamond pool. In order to receive revenue from hashrate, pBTC35A and pETH18C must be staked; traders who would like to speculate on price of pBTC35A and pETH18C, market make, arbitrage etc, have the advantage of liquid tokens, but forfeit their hashrate. Because Mars captures this revenue, its value is partly tied back to real world equipment. Mars itself is a hashrate token.
With additional governance/voting rights for Mars DAO, and with future DeFi products (rocket fuel) being added to the mix, Mars Project seeks to create an enticing value proposition for its holders!
When ETH switches to PoS, what will happen to pETH18C? How long will pETH18C remain profitable? Will the mining equipment be allocated to another token?
Ah, yes! Ethereum 2.0. As Ethereum users and miners, Mars Project shares in the excitement about ETH 2.0. In the (somewhat) near future, Vitalik is going to wrangle down those ETH fees, toss a rope to UFOs and Unicorns alike (we like your fashion sir!) and completely change how we transact in Decentralized Finance. Because we are integrally involved in the mining galaxy, we pay especially close attention to these developments. We believe ETH 2.0 is still at least 1.5 to 3 years out. Because pETH18C uses the best mining equipment money can buy, assuming with greatly diminished supply you can buy at all, we believe it will remain profitable throughout that duration. At which point, pETH18C will still represent real-world equipment with value. When we are closer to the date, with some lead time, we will surely issue an announcement to the community and clarify our course of action. One option is to reallocate the equipment to mine another profitable PoW token (use your imagination!). While it depends upon the future mining market, the equipment represented by pETH18C is likely to be valuable for years to come.
What about EIP-1559?
Since Ethereum launched, miners have generated revenue from both block rewards as well as transaction fees. Under EIP-1559, Ethereum will burn the largest part of the total fee — the base fee. After the implementation of EIP-1559, miners will receive only inclusion fees. While the loss of the base fee may significantly impact miner revenue, the counterargument is that any drop in revenue will likely be temporary. As EIP-1559 will create a deflationary ETH, and also a more affordable one for its users, this may undoubtedly create a bullish scenario for the price of Ethereum as well as its network effect. (Metcalfe’s law states that the value of a network is proportional to the number of its users.) A higher ETH price may offset the decrease in base fee revenue for miners.
Do you have a roadmap?
You must mean do we have an interplanetary space map? (Leave those questions for the streets!)
In all seriousness, as our relationship with Poolin may suggest, Mars Project takes a long-term view of the mining and DeFi market. Our goal is to be the one-stop home for affordable hashrate tokens. Mars plans to launch DeFi loans on our platform in the near future (hold on to your seats!). Of course, partnerships are certainly at the top of the DAO’s mind, and we encourage like-minded people to get in touch! The first DeFi protocols to integrate hashpower tokens will have an important new product, as well as strategic advantage in the market. Vaults are just one example of a focus area where the team has plans and dialogue.
With each new feature and token debut, you can expect more value to flow through to Mars stakers. Mars has a large development team at the ready, and new and exciting features will be planned and announced in the future. Take a stroll on Mars and leave your feedback; join our Telegram community and follow us on Twitter to get the latest announcements.
Do you have any up-and-coming events?
Heh, I thought you might ask that! Yes, in fact Poolin is a sponsor for the upcoming Bitcoin conference in Miami this June, 2021. (https://b.tc/conference/sponsors) Comprising a literal “Who’s who” of Bitcoin and the crypto industry, with the likes of Michael Saylor, and Sen. Cynthia Lummis, our very own Alejandro De La Torre will be a speaker. (https://b.tc/conference/speakers) Mars is high up on our agenda! Of course, to break through the atmosphere we will also be a Disruptor at the Mining Disrupt conference in July. Big props to the service and sacrifice of these Mars rovers.
How to buy Mars, pBTC35A, pETH18C?
For the best liquidity, you can purchase Mars on Uniswap or Sushiswap, as well as with the Poolin wallet. You can purchase pBTC35A or pETH18C on Uniswap or Poolin wallet.
What is Poolin’s relationship with Mars?
Poolin is one of the largest Bitcoin mining pools in the world by EH/s. Poolin was among the first to notice the missing element in the DeFi ecosystem: Tokenized hashrate. While cloud mining historically has been quite complex, by bridging the two ecosystems (mining, and DeFi) into a simple and familiar interface and one-stop shop, the result is delivering a unique and compelling mining experience to participants all around the world. Mars may be the simplest and most affordable way to get involved in mining today, with any size investment.
As we break the stratosphere, follow us on Twitter and stop by our Telegram as we journey to the Mars!
MARS team thanks apein moon kun the MARS community admin for writing this FAQ!
