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. The statement said: 

“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 mainnet debut is the third and last phase of a three-step 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. A snapshot is a file with the recording state of a blockchain at a particular time, including all existing address and transaction data. 

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. 

As you may know, the collapse of Terra (LUNA) and its stablecoin, TerraUSD (UST), last May had a wide impact on crypto markets, hammering the prices of decentralized finance (DeFi) projects hosted on the Terra protocol, such as Mars Protocol.

South African Self-Regulatory Body Mandates Risk Warnings In Crypto Ads

South Africa’s Advertising Regulatory Board, a self-regulatory initiative by the ad and public relations industry, has issued new guidelines that mandate crypto advertisers to display a warning about the potential loss of capital when investing in crypto. 

It also mandates social media influencers and ambassadors to share only factual information rather than offer advice on trading or promising guaranteed returns. 

The ARB is also seeking to tighten the rules for social media influencers who promote crypto. 

“This is a wonderful example of an industry that sees the harm that could be done in its name, and steps up to self-regulate the issues without being forced to do so by government,” Gail Schimmel, chief executive officer of the ARB, said in an emailed statement. 

Crypto ads “must expressly and clearly state that investing in crypto assets may result in the loss of capital as the value is variable and can go up as well as down,” said the updated ARB guidance. 

Social media influencers and ambassadors should only share factual information rather than offer advice on trading or promising guaranteed returns, it added. 

South Africa is the latest to seek to ensure crypto publicity is fair and honest. The U.K. is also proposing legislation to constrain crypto promotions. In the U.S., reality TV star and influencer Kim Kardashian recently settled with the Securities and Exchange Commission for $1.26 million for hyping ethereumMax without disclosing she was being paid.