Mars Network
Crypto Overview
Overview
Mars Network is a credit protocol built on the Cosmos ecosystem, specifically designed to enable lending and borrowing of digital assets. The MARS token serves as the protocol's governance token and provides utility within the lending platform.
Purpose and Utility
The primary purpose of MARS is to facilitate lending and borrowing operations within the Mars Protocol. Token holders can participate in governance decisions and earn rewards from protocol fees.
Business Model
The core business model revolves around lending and borrowing cryptocurrencies, where users can earn yields by providing liquidity or take out loans against their crypto collateral. This model inherently involves interest-based lending, which is fundamentally problematic from an Islamic finance perspective.
Real-World Adoption
The protocol has achieved notable adoption within the Cosmos ecosystem, with active lending markets on multiple chains including Osmosis and Mars Hub. Development activity remains consistent with regular updates and improvements to the protocol.
Token Distribution
The token distribution includes allocations for the community, team members, and early investors, with vesting schedules in place. However, the primary utility of the token is tied to a lending protocol, which is the main concern from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Mars Network from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Mars Network.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.