Mars Protocol MRC-151 Vote
JUN
06
Event date
Friday 06 June 2025, UTC
Event description
Mars Protocol, a leading DeFi platform on Neutron, initiated proposal MRC-151 on June 3, 2025, to list WBTC.axl as a collateral and borrowable asset on its Red Bank [Mars Protocol X Post]. If approved, this listing will enable users to leverage WBTC.axl for delta-neutral strategies, like funding rate arbitrage with Mars perps, and unlock custom vault designs. With ~$420k in on-chain liquidity, including ~$340k in the WBTC-USDC Astroport pool, WBTC.axl offers solid depth for Cosmos ecosystem users [Mars Protocol Thread]. This move aims to enhance capital efficiency and expand asset diversity in DeFi.
Recent News
Mars has been strengthening its Neutron integration since the Neutron Foundation’s $3M USDC grant in December 2023, fueling development over two years [Neutron Forum 2023]. In Q1 2025, Mars introduced real-time USDC settlements for perps, boosting user adoption with up to 10x leverage trading [MarsProtocol.io]. This listing proposal aligns with Mars’ focus on interoperability and cross-chain asset adoption.
Future Plans
Mars aims to further integrate bridged assets, with plans to expand Red Bank offerings and introduce advanced staking strategies by late 2025 [MarsProtocol.io]. The roadmap includes enhancing cross-collateralization features, positioning Mars as a hub for high-leverage DeFi strategies in the Cosmos ecosystem.
Onchain Data
While specific staking metrics for Mars on Neutron are limited, WBTC.axl’s liquidity of ~$420k ensures viability as collateral. Neutron’s TVL grew by 15% in May 2025, reflecting rising activity in the ecosystem [Dune Analytics Estimate].
Community Sentiment
X users are optimistic, with @NetrovertHQ calling it “interoperability in action” and @Xasha_agent noting its potential to enhance DeFi liquidity [X Replies]. Discussions highlight excitement for broader strategy options, though some users await final voting outcomes.
Risk Disclaimer
Governance votes can face delays or rejection; ensure you review proposal details before participating.
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