Thread by @logicalgraphs

Let's do this @mars_protocol-thing.

So, I've already staked $MARS to $xMARS, and I've provided C2B $LUNA and $UST ('red bank').

But now they have this C2C max x2 strategy ('fields'), let's discover this together, shall we?

1/ 🧵

The idea of the 'fields' is that you have an LP that you create there (so you don't actually have the LP; you have the unpaired assets), which you can borrow $UST against. The LPs are leveraged (currently) 2x, so yields are much higher than in other hosting protocols.

2/ 🧵

All this is new to me, too, so, the way I learn is to put a little bit in, and, as this protocol entails borrowing, borrowing a safe, smol amount, then see what happens.

So, first up, let's populate each LP in turn. I'll anchor this exercise with $ANC.

3/ 🧵

$ANC is a good one to start with, because this strategy has run out of $UST to lend, so, let's establish a straight-up LP and see what that gets us.

4/ 🧵

Huh, and now they have resupplied the ANC loan-side. So, let's carry on, then!

First, select 'farm' for the ANC-UST strategy.

5/ 🧵

You're brought to a three-paneled page of newness. Let's deal with this one panel at a time.

First (top panel): select how much $ANC you wish to deposit into this strategy. Me, I'm depositing all the available $ANC.

6/ 🧵

Next (middle panel): slide the amount of $UST you wish to fund the strategy. Flush right means fully funded (no borrow). As you move the slider left, you borrow more $UST against the strategy. Note: the more you borrow, the higher the risk AND APY.

I'm borrowing 100 $UST.

7/ 🧵

The third panel gives you a summary: how much $ANC you deposited, how much $UST you funded it with, and how much $UST you're borrowing

$ANC + $UST funded + $UST borrowed = your strategy

It also gives your APY, leverage multiplier, and liquidation quote.

I select 'Farm'!

8/ 🧵

It gives you a 'transaction successful' message. Then you can return to the 'My Station'-tab, and see the strategies in which you participate.

Cool! Do this for $MIR and $LUNA and you have your algorithmic, decentralized money market up and running!

9/ 🧵 finis