Ruling the headlines on the BSC network is now a norm for the Mars Ecosystem. Armed with some of the highest APRs in the DeFi space and an ever-growing TVL, the team recently earned a Monthly Star in the Binance Smart Chain “Most Valuable Builders” program and is working towards reinventing the utility of Stablecoins. With BSC supporting Mars’ products and technology, it adds a layer of credibility to the constantly evolving Mars ecosystem. In this write-up, we will deep dive into stablecoins and what Mars Ecosystem means to the future of DeFi and crypto.
Stablecoins were first introduced as a blend of stability of fiat currency and mobility of cryptocurrencies. Generally, they are backed by underlying assets or algorithms. Stablecoins ensure that money is borderless and accessible to everyone without the need for a bank or a central authority.
Simply put, if Bitcoin is decentralized gold, then stablecoins are decentralized currencies.
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However, with time and usage, specific attributes of stablecoins have turned them into the antithesis of decentralization. Also, they have ignited the fire for the genesis of the Mars Ecosystem and its vision to reinvent stablecoin with decentralization and scalability intact.
Current Landscape of Stablecoins
The market cap of all stablecoins is worth nearly $128 billion with Tether (USDT) accounting for more than half of the value. Despite not having one…