Space Summary
The Twitter Space Mars Community Call: Monthly Martian Takes hosted by mars_protocol. The Mars Community Call, centered around the galaxy's premier credit protocol, offers a deep dive into the DeFi space. With a focus on community engagement, strategic partnerships, and unique features, Mars Protocol stands out for its innovative approach to cross-chain transactions and governance. Participants gain valuable insights on the ecosystem dynamics, tokenomics, and future roadmap, making it a hub for networking and knowledge sharing within the crypto community.
For more spaces, visit the DeFi page.
Questions
Q: Why is understanding the Mars credit protocol ecosystem essential for investors?
A: Knowledge of the ecosystem aids in making informed investment decisions and understanding the protocol's sustainability.
Q: How does community participation contribute to the success of Mars Protocol?
A: Active participation fosters community ownership, governance, and overall ecosystem growth.
Q: What role do strategic partnerships play in enhancing Mars Protocol?
A: Partnerships broaden the protocol's reach, introduce new functionalities, and drive innovation.
Q: Why is community engagement crucial for the growth of Mars Protocol?
A: Engagement fosters trust, feedback gathering, and a vibrant community supporting the protocol.
Q: What makes Mars Protocol stand out in the DeFi space?
A: Unique features like cross-chain transactions, tokenomics, and distribution strategies set Mars Protocol apart.
Q: How does Mars Protocol gather feedback for improvements?
A: Engagement activities, like community calls, provide a platform for users to share insights and suggestions for protocol enhancements.
Q: What benefits does the Mars Community Call offer to participants?
A: Networking opportunities, knowledge sharing, and updates on protocol developments are key benefits of the Community Call.
Q: What insights can investors gain from the Mars Community Call?
A: Investors can stay informed about the roadmap, partnerships, and upcoming developments of Mars Protocol through the Community Call.
Q: How does Mars Protocol ensure seamless cross-chain transactions?
A: The protocol's technical design and integration with various blockchains enable users to transact across multiple chains efficiently.
Q: What impact does community governance have on Mars Protocol?
A: Community governance ensures transparency, decentralization, and aligns the protocol with the interests of its user base.
Highlights
Time: 00:15:20
Mars Protocol Ecosystem Dynamics Insights into the inner workings and dynamics of the Mars credit protocol ecosystem.
Time: 00:25:45
Strategic Partnerships for Growth Exploring the partnerships that drive innovation and expansion within Mars Protocol.
Time: 00:35:10
Tokenomics and Distribution Strategies Understanding the tokenomics model and distribution strategies employed by Mars Protocol.
Time: 00:45:30
Community Governance Importance Discussing the role of community governance in shaping the direction of Mars Protocol.
Time: 00:55:15
Cross-Chain Functionality How Mars Protocol enables seamless transactions across different blockchain networks.
Time: 01:05:40
Future Roadmap Sneak Peek Teasers and insights into the upcoming developments on the Mars Protocol roadmap.
Time: 01:15:25
Feedback and Protocol Enhancements Engaging with the community for feedback that drives continuous improvements within Mars Protocol.
Time: 01:25:50
Community Collaboration and Networking The importance of collaboration and networking within the Mars Protocol community.
Time: 01:35:10
Unique Features Showcase Showcasing the unique DeFi features that distinguish Mars Protocol within the industry.
Time: 01:45:30
Mars Community Call Impact Reflections on the impact and benefits of the Mars Community Call for participants.
Key Takeaways
- Understanding the dynamics of the Mars credit protocol ecosystem is vital for investors.
- Incentivizing community participation and governance drives the success of Mars Protocol.
- Explore the strategic partnerships formed by Mars Protocol to enhance its ecosystem.
- The significance of regular community engagement in maintaining the protocol's growth.
- Learn how the Mars Protocol facilitates seamless cross-chain transactions.
- Insights on the future roadmap and developments of Mars Protocol.
- The Mars Community Call provides a platform for networking and knowledge sharing in the crypto community.
- Engagement with the community helps in gathering feedback for protocol improvements.
- Discover the unique features that set Mars Protocol apart in the DeFi space.
- Insights on the tokenomics and distribution strategies of Mars Protocol.
Behind the Mic
Introduction and Waiting
Hello? Perfect. Okay, great. Now we're just waiting for Augustine, and then we will get started. I did try to put the music, but it's apparently failing. But don't worry, guys. We'll have it for next time. Hey, Barsrap, is that Jostine or you're just coming in to show for the speaker? Hey, you should be able to speak now.
Introductions and Greetings
Yes. Hello, everyone. How are you doing? Pretty good. Pretty good day. Busy, productive. Working on member documentations. How about you? All good. All good, too. Happy to be here. Thank you for hosting us. Yes, we are already at Thursday of the week. Very intense week. But I guess all weeks are intense, right? In crypto, yes. At Lincoln, they are not called weeks. They are called months, actually.
Time Perception and Discussion Initiation
It's like interstellar, you know, like the meme. Yes, yes. Five minutes are ten years on earth. Yeah. Now do you guys want to get started now? Should we wait a little bit? We already have a number of listeners, and this is recorded, so for me, I think we could get started. But if you want. If you have some other people you want to wait for, we could. As you prefer.
Deciding to Start
I would rely on your. On your creativity. Then let's get started then. Anyway, I said this is recorded, so for everyone that's, you know, I'd want to listen to it. After you could. Why don't we start with a little introduction? So, I mean, obviously everyone already knows us and Powershell over here, but it's always good to introduce a bit the project and also maybe ourselves. Let's try to keep it under two minutes.
Introducing Augustine
Do you want to start, Augustine? Yes, sure. Thank you. Well, my name is Aousin. I'm leading the partnerships and the operations team at Paraswap. I've been doing this for two years and a half already. Previously, I worked on large companies, tech companies like Facebook, for example. At some point, web three crypto was taking a lot of my time, and I was super interested on it, and I decided to switch to web three.
Understanding Paraswap
I mentioned Paraswap. You mentioned also Paraswap. But what is Paraswap? We are the leading Defi aggregator. We aggregate different liquidity sources, such as Dexis, lending protocols, or private market makers, with the goal of providing the best swap rate for users and applications and partners that want to access the liquidity that is distributed along the blockchain. So whenever you want to swap one token for the other, we are able to find the best route and get you the best price among all the liquidity sources.
Integration and Liquidity Sources
That we have integrated. We have more than 200 liquidity sources integrated in actually nine chains. Wow. It's quite a lot. Quite good, quite good. We'll go a bit over the details after with the integration, how it works. But first, Adli, could you introduce yourself?
Introduction and Goals
Two minutes, so, and congrats for the journey. So on my side, I'm a co founder of usual. Our goal is mainly to rebuild tether and circle on chain to realign a certain way fiat back stable coin market with the crypto at us in the sense that it must be decentralized, it must be in certain way distributive, it must give the power to the user. What we are trying to build is a stablecoin that is backed by RWA that are the same kind of collateral that data and circle has. So money market fund of short maturity, TB, Lore river triple, and our current partner for that is USYC.
Unique Approach to Stablecoin
We have also a different approach than other stablecoin because we have one layer that is a pristine stablecoin, redeemable and mintable one at any time, that is not yield bearing. All the yield of the collateral goes to the treasury of the DAO. And we rather give a governance token in the future and pills right now to people that are minting USD zero and then locking into USD zero our bonds that provide all users that also bond some pills or token in the future. So by doing that, we aim to be more resilient, more decentralized, because we make a risk free ownership instead of a risk free yield in certain way.
Integration and Ownership Structure
And thanks to this spread of the ownership, and that's why we try to make integration everywhere right now, we will be able to be more stronger because we have a more wide token holder basis rather than all the centralized issuer. Okay, so I'm not sure when the two minute, but that was pretty good summary still. Now, for a lot of people that have been using us, we already know, you already know that we have been using parasite since the launch, since double launched on July 10. But could you maybe Augustine or adli tell us how exactly is usual using powerswap?
Usual's Usage of Paraswap
I can go so usually using Pyswap API to integrate password into our Dapp and that what allow us to route all people that want to mint and want to swap token to our stablecoin. If the, if the secondary market is slightly deviate slightly from the peg, it will root of automatically through the secondary market if you have a better price. And if not it will route through the primary market and we are basically using power swap for that so we can aggregate all the liquidity around all sixes indexes. Sorry. And yeah, that's mainly our usage of power swap between USDC and USD zero between every token and USDC to minus USD zero.
Minting and User Experience
That's why some users see in their flow when they are minting in the Dapp. They see that it's Paraswap plus usual counter. It means that there will be first a transaction at Parsewab that will convert your crypto to USDC to allow you to mint directly in our minting engine, USD zero. So that's how we work with Paraswap in the Dapp and that make a smooth ux for our user and they always have the better execution. Could you tell us why you chose. So I'm going to go first to you, Adli, and then after that Augustine. So first Adlai, could you tell us why we decided to work together, how it came to be?
Choosing to Collaborate
And then after that Augustine basically the. Advantages of using Parasoft, to be honest, and I think we still will agree also that like all aggregator are some difference, but basically all those kind of job in certain way. And the difference with powerswap for us was the APIs that work well with how we designed the Dapp, et cetera, and the activity of the team also that help us on many different little stuff in the integration and all the steps for integrated power swap. So yeah, I think it's mainly kind of pragmatic choice because that was the partner where we have the most easy integration, I would say in certain way.
Integration Experience
And we can't wait to also integrate the new features of password delta. Yes, we can't wait neither. So I would try to answer everything in a single answer. So how usually it's using paraswap. So I mentioned that Paraswap is a Dex aggregator and we can be used directly interacting with our smart contracts or through our API, even if you go to Paraswap frontend. The Paraswap frontend is using Paraswap API to access the best routes or the best prices. Usually it's using exactly this in order to get the best prices for swapping the user tokens into USD zero or into USD zero plus.
Mechanics of Swapping Tokens
Is that how you called it, the other token? So the good thing about this is that as Adli was mentioning, you could basically swap any token into. Let's take USD zero as an example. Because on our back end what we would do is we would calculate, let's say you want to swap. I don't know. I would use our token PSP. Let's say you want to swap psP into USDC. Well, in our backend, in this case through the API, we will calculate the best route to go from PSP, let's say to USC. And with the USDC mean the USD zero. If that's the best route.
Evaluating Best Routes
If the best route would it is to go from PSP to Dai and to Dai, swap it to USD zero through a secondary market. We will also evaluate that route and come up with the best route or the best option for the user. And doing this, it doing this manually for a user, any user, it's very complex because you need to know all the liquidity, all the places where the liquidity is sitting at, all the tokens. And this is something we are very good at. So this is how you guys are using Paraswap today? We have seen very good volumes and lots of trades going in through USC zero or USC zero.
Comparing Different Aggregators
Regarding the difference between Paraswap and other aggregators, Adelaide, you mentioned about our team, about the API, and about how we are supporting partners. We basically love working with partners like you because conversations are very smooth and we are able to work and keep building to improve the user experience in our ecosystem. But besides that, I think that our core is our aggregator protocol and how we are routing traits. All aggregators are routing traits.
The Unique Features of Paraswap
Paraswap has its own secret sauce and its own way of routing traits and discovering or finding the best path. The ability of using intermediate tokens to go from point a to point b to split the trades among different liquidity sources, to use private market makers in the middle, besides decentralized exchanges. It's very important to mention that when a part of your trade or your whole trade goes through a private market maker as a liquidity source, this part of the trade, it's protected against MEV and against slippage because private market makers send a quote and they have to respect that quote for two minutes.
Protection Against Risks
So the user is basically protected against MeV and against slippage, which is important in the blockchain that we all use. So basically, I would say that's the difference, or that's another important difference between Paraswap and other aggregators. You mentioned Adle, Paraswap Delta, which is our new product. I think we are going to talk more about that later. But we are also planning to integrate the direct minting route between USD zero and USD zero.
Direct Minting Route
And this will enable to swap, or mint, I would say mint one one directly between USD zero and USD zero instead of going through secondary markets as we go today, which will give more options to your users to get the best prices. Amazing.
Introduction to Delta and Questions
And yes, I said we're gonna go through Delta and everything. When? First thing, guys, if you do have any questions, don't hesitate to put in comment. I am checking it. I'm also trying to check our discord though. Right now we don't really have the. AMA thing yet, but Augustine. So if you could tell us updates, parasrap, what do you guys just have? What is this parasitic delta you've been talking about? And is anything else that's coming very soon is any insights, alpha, you can give us?
Overview of Parasitic Delta
Oh yes, sorry. Yes, for sure. So parasob Delta, it's our latest launch. It's our intent trading protocol. So in my previous answer, I was talking about Mev and slippage. Maybe, maybe I omit it, but let's quickly explain what Mev and slippage is in this case. So slippage is what percentage of a trade a user is willing to lose if the price moves below what they are submitting the transaction. So if I'm, let's say I'm swapping one eth for USD zero and I want to receive 3000 USD zero if I'm willing to lose 1% of that in case the price of ETh goes down. If I'm willing to lose 1%, then my slippage is 1%. If the price of ETH goes less than 1%, my transaction will fail and it will not be successful because the API is respecting my condition. So that's slippage.
Explaining MeV
MeV is the ability that some actors in the blockchain has to reorder transactions and extract some value out of the user transaction, which is not positive for a user, of course. So with Parasob Delta and our intents trading product, what we are doing is instead of having a trade being routed through the public mempool, we do it through a private network of solvers, which is called Porticus. The Parasob delta is built on top of our decentralized intents network, which is called Porticus. And these solvers are taking care of solving or actually executing the trade. So let's say you want to swap again. One, if to USC zero solvers will take care of finding the best route and Paraswap is solving inside Parasoft Delta solvers will take care of finding the best route and routing the transaction and executing the transaction so the user can get the desired USD zero.
Advantages of Using Paraswap Delta
The benefits of doing it through a network of solver is that you are protected. Users are protected against MEP because these are not go through the public Mempool. The second and also very important benefit is that we enable gasless transactions so users don't need to have eth on Mainnet, let's say to pay for the gas, but the solvers will take care of paying the gas for the user. So basically we are removing barriers. Users can easily trade and swap their tokens, getting a better result because they are getting protected against me. If you go to Paraswap front end, you will see that actually we have two ways of trading. One, it's through Paraswap Delta, and the other one it's through aggregator. Through a normal aggregator, the product that we had until now, and it has processed more than 77 billion of trading volume until now.
Current Statistics and Adoption of Paraswap Delta
Since we launched it, Paraswap Delta, we launch it two weeks ago, it has processed around $100 million in volume in, I would say something around 1000 transactions. So we are seeing good adoption. It's only available for now in Parasoft Frontend, but it will soon be available for partners. And this is why I think this is relevant for this audience because it will soon be available through the API. So our partners, like you would be able to offer these benefits to all your users too. Awesome. Awesome. So yeah, hopefully we can be able to benefit from things.
Feedback and Future Prospects
Atli, you want to say something? I would say very clear, thank you. And I think it will be a great product. And I love the directions that take all the, I would say aggregator space to go more and more on solver intent. All that kind of logic that will clearly improve efficiency. And I think also multi chain execution and multi chain liquidity fragmentation. So we're happy on that. And I hope we'll have that kind of improvement kind of quickly in our app. Looking forward. Now, Adley, for you, anything on your side for usual, anything?
Upcoming Developments
I wanted to mention that we gonna have, that we just had that we're gonna have soon or some future. The latest great news was clearly the Atar five volt with a lot of pills and points to earn there. I think that yeah, clearly we are continuing to work on integration. We have lot of. There is a lot of work in the back also, I would say. And clearly I think the next step for this month, maybe a few weeks, is the multi chain. And also continuing some great integration will share for sure in the next days or week before the end of the build period. And to crush, to continue to crush the TVL and go to one Alphabet or something like that.
Launch Plans
And then launch fully. Launch fully. Launch is coming soon, should be in about two months or so. Also, we do have another thing coming up just today Normanich. I mean, I have everything ready on my end.
Integration Confirmation and Future Outlook
We just need to confirm. But we should have today, in the coming days yet another integration. I mean, and if anyone follows us, you know that we basically had at least an integration a week, and now sometimes even more so. Look forward to that. Now, one thing, one last thing maybe is open conversation, you know, future defi, state of the markets. What do you guys think? What is coming? What do you think about the last week? Let's start with you, Augustine.
Personal Perspective on DeFi
Yes, good question. Personally on DeFi, I'm kind of biased to what I see from the Paraswap ecosystem and the aggregators ecosystem and the partners that we work with. So this is my personal opinion and not parasol. So I'm seeing a lot of improvements towards user experience and towards lowering the entry or the usage barriers for users. I think that spending a lot of time in the ecosystem, we sometimes forget that we're probably part of the users that know most about DeFi and about how applications work, how protocols work, how smart contracts work. But we are the very few. Most people don't know, but just care about how the usage they can give to Defi. And I see a lot of improvement on this front, and I think that the next wave of innovations will come in this road.
Innovations in Aggregators and User Intent
From the space of aggregators and from the space of swapping, or from the space of fulfilling users requests, I see lots of protocols diving into intents and abstracting the complexity of performing actions from users and leaving it to, let's say, expert parts or professional parts of, in our case, our solvers or agents. But it can be for doing whatever a user wants to do. I'm putting the example of swapping, but imagine doing anything or performing any action that you want to do on chain instead of the users taking care of, or having to focus on the specifics of that. Imagine that a user can just express their, its intention and someone will feel that intention for him or for her. I think that's, that might be the role that the defi ecosystem might take. But again, this is my opinion and my perspective.
Chain Abstraction and Future Improvements
Chain abstraction. I think it's the beginning of that abstracting the complexity of in which chain you are currently using. It doesn't matter for the user, it doesn't really matter for most users. It doesn't really matter where your fonts are held at. But I see more improvements or more innovations toward this side. Now, Adli, what about you? What do you think about the current state of Defi and a bit future? You know, its future essentially, as I. Always say, I think we clearly are only on the beginning. And Defi hasn't shined since long time. Like Defi v one, I would say project like Aave, like password, like compound Uniswap, etc.
Retail Attraction and Future Direction
Have not changed since very, very long time. In term of, I would say retail attractivity and stuff like that. But that are the most used product currently that work in crypto. So it's a pretty paradox. And yeah, I really think that account, abstraction, intent will really help the DeFi to be more usable for everybody with less constraint of gas, of a chain, of all the problematics that we know in the ecosystem right now. And that the next wave will clearly be big because Defi hasn't had a big wave since I would say 2020. And it has proven that it's work. There is a black Monday event last month.
DeFi Resilience and Future Efforts
There was a no massive problematic in defi of liquidation, deep whatever. And that will surely have happened at the time before. And yeah, we really need to continue the effort in terms of ux, I think, and in our case, as usual, to continue integration in the world defi, because that's the beauty of Defi. It's a Lego brick, you know, of a financial break, a financial Lego, and that's what is good to be built for. And yeah, I guess that the DeFi will continue to grow. I really wait for the, I would say reverse of the defi interest more in term of exposure, awareness, etc. And I really think that there is a whole new wave of DeFi project like us also that will help the space to make a huge comeback.
Commitment to DeFi's Future
And I hope we'll be in certain way in that comeback. I mean, I hope we won't be in, but I hope we are. Yeah, I mean, I want to be at the forefront of that comeback of. Define not just in. I want to be leading the charge, hopefully now. That's it, guys, we're gonna stop it here. Let me see if there is any. It seems that we are good. Did we lost him? But otherwise, yes, I think we're good. Guys, that was great to talk to you. Augustine, Natalie, always great to have you. And hopefully everyone can join us next week for another weekly usual talks and have a good day and get that yield.
Closing Remarks
Thank you to all of you. Thank you. Thanks everyone. Bye bye.
