Despite a big rally in crypto at the tail end of the year, 2020 will be remembered as the year of DeFi (Decentralized Finance).
At the start of 2019, the total value locked in DeFi projects was around $40 million. In 2020, we saw what is now known as the “DeFi Summer”where the total value locked into their smart contracts grew rapidly, from a few hundred million to over $20 billion in just a matter of months. Fast forward to February 2021 and the figure passed $40 billion.
There has been a number of projects in the DeFi space. DeFi developers are continually creating new innovative projects and exploring different methods to bring in new users into the DeFi ecosystem.
The areas that have attracted the most attention, and rightly so, are staking, liquidity mining and yield farming. One new DeFi project making some waves is Fair Mars.
Fair Mars is a newly launched token that provides solutions to the risky downsides of staking such as Impermanent Loss or Rug-Pulls.
For those that do not know, Impermanent loss is when you provide liquidity to a liquidity pool, and the price of your deposited assets changes after you deposited them. The greater the change, , the more you are exposed to impermanent loss.
Meanwhile, Rug Pulls are cyber attacks unique to decentralized finance exchanges (DEXs) where a vulnerability to the smart contract is exploited and the token’s value declines as a result.
Fair Mars is a token barely one-month-old. It started out its short life as just like another moonshot or shitcoin. Created by the developer of
SafeCake and Moonstorm, Fair Mars has evolved to become a real bonafide project with a team of 5 dedicated and ambitious developers.
Despite being in its very early stages, the signs are promising. The roadmap has been revealed and some steps have already been reached.
Launched to main net on April 03, 2020 with a limited supply of one billion tokens, Fair Mars offers an in-house developed, real-time data provider interface called Mission Control. The Mission Control Web App enables you to track orders and connect your $FMARS wallet.
Fair Mars generates yield by applying a tax of 8% on each transaction. From that 8%, 3% of which is distributed among token holders, and 5% is added to the liquidity pool. This is done in order to negate any damage from a possible whale dump. The longer the investor holds, the greater the reward.
Billed as the ultimate yield deflating coin, Fair Mars offers stands out by offering Staking just by holding mechanism, Increased price floor after every transaction, liquidity locked for 100 years and full ownership renouncement.
And that is not all. There is more to come as Fair Mars builds the community and develops the ecosystem further. An environment is being established that both rewards and stimulates its members.
In the pipeline are a BNB lottery, An Artwork Exchange Platform with NFT competitions, and game development, making this something for everyone to enjoy and earn from.
Fair Mairs is simply not just a moonshot. Because the moon is not enough…
You can see more and read their whitepaper at their website: https://fair-mars.com/
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