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    The Red Planet

    MARS Protocol is one of the most exciting protocol on Terra blockchain. It is basically a bank and operates like other money market protocols such as Compound and Aave on Ethereum network but even better. Recently, they were just launched so in this dashboard, we will take a look at how well has it performed since then. Since this is a lending and borrowing protocol, metrics that we investigate are the depositing side (lending) and borrowing side.

    Deposit

    First, let's look at the deposits metrics. For now, users can deposit $UST and/or $LUNA as collateral. Graph below shows the deposits amount for both $LUNA and $UST and also unique depositors count. On March 19th, deposit volume reach almost 50M USD which is an ATH thus far. Since then, the number has seen growing slowly.

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    Borrow

    After depositing, users can borrow up to 75% of collateral value deposited. Graph below shows the borrowing of $LUNA and $UST and borrowers count. The highest borrowing was on March 19th which has almost 27M USD borrowed.

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    In conclusion, even the number of depositors and borrowers has declined a bit, the volume of borrowing and depositing has grow consistently. This shows the organic growth of Mars Protocol even without most of the features released.