Mars Hub, the original Terra lending protocol, is expected to unveil its independent Cosmos application on January 31, 2023, along with issuance of MARS tokens to users who keep during Terra Classic’s snapshots, as reported by Cointelegraph.
According to Cointelegraph, the Mars Hub mainnet is expected to be implemented along with 16 genesis validators, including Block Pane, Chill Validation, Chorus One, Cosmology, CryptoCrew Validators, ECO Stake, among others. It is believed that 34 more places for permissionless validators will be present after launch. Reportedly, a total strength of 50 million MARS tokens will be allotted to genesis validators for the unveiling and sent back to the community pool after a month.
“This temporary delegation will help protect the network from attack by a rogue validator that could potentially accumulate a large delegation of MARS shortly after genesis and begin manipulating transactions on-chain,” the statement said.
On the basis of information by Cointelegraph, the mainnet debut is expected to be the third and last phase belonging to a three steps process. It is believed that the process started with a private testnet for developers and certain community members, followed by a public testnet. In early February, 2023, the first Mars outpost will follow on the Osmosis blockchain. An airdrop is expected to make MARS tokens claimable through eligible addresses, along with availing 64.4 million tokens for those who held MARS at the time of two historical snapshots on Terra Classic.
Moreover, Cointelegraph noted that the tokens will be available for six months post the launch through Station, Terra’s new interchain wallet. It is believed that users who kept hold of MARS on Terra Classic will also get control over governance power. Reportedly, in May, 2022, the collapse of Terra (LUNA) and its stablecoin, TerraUSD (UST), influenced crypto markets.
(With insights from Cointelegraph)