On January 31, Mars Hub, the original Terra lending protocol, announced the opening of its standalone Cosmos application chain and the distribution of MARS tokens to customers who held it throughout the two Terra Classic snapshots.
A total of 50 million MARS tokens will be delegated to genesis validators for the launch and returned to the community pool one month later. “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.
The mainnet debut is the third and last phase of a three steps process that began with a private testnet for developers and some community members, followed by a public testnet. The first Mars outpost will follow on the Osmosis blockchain in early February.MARS tokens will be made claimable by eligible addresses via an airdrop that goes live with the mainnet, unlocking 64.4 million tokens for those who held MARS during the two historical snapshots on Terra Classic.
MARS tokens distribution was determined by snapshots taken before and after the depeg of Terra Class USD : block 7544910 , and block 7816580 . The tokens will be available for six months after the launch via Station, Terra’s new interchain wallet. Users who held MARS on Terra Classic will also inherit governance power.
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