TUTORIAL: HOW TO UTILIZE dATOM AS COLLATERAL ON MARS

Mars v2 officially went live, introducing a new collateral asset, Drop Protocol’s dATOM, on Mars’ Neutron outpost.

Let's dive into how to multiply Droplets by using $dATOM as collateral on Mars v2.


First, you need to create a Credit Account to deposit $dATOM or any other asset into Mars v2.

Important note: Only deposits on Mars v2 are eligible for the Droplets campaign.
If you've already deposited $dATOM into Mars v1, please ensure you migrate your funds to Mars v2 to become eligible.
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Mint your Credit Account and approve the transaction.
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Fund your Credit Account with $dATOM.

Note: Since dATOM and other LSTs aren’t lendable on Mars, be sure to toggle off the ‘Lend asset to earn yield’ button.

With dATOM selected, the next phase involves determining the amount you want to deposit. Specify the quantity by entering the appropriate figure in the provided field and confirm the transaction. In this example we use the max available amount (1 dATOM).

Congratulations you have now funded your Credit account with dATOM.
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Borrowing against dATOM on Mars v2 allows you to multiply the Droplets you earn by 3x. With $ATOM in our Credit Account, let's dive into how to use it as collateral to increase our dATOM exposure.

Click on the ‘Trade’ tab and select ‘Spot Advanced.’

Select ‘Buy dATOM’ and ‘Sell ATOM,’ then choose the leverage level you’re comfortable with. In this step, you’re borrowing ATOM, which you then swap for dATOM. Click the ‘Buy dATOM’ button and confirm the transaction.

Note: You can monitor your Credit Account's health to ensure your position remains safe.

As you can see, we’ve leveraged our initial 1 dATOM to 2.55 dATOM, using 2.55x leverage. This will result in a 7.65x Droplets multiplier (2.55x leverage multiplied by 3).
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For questions on how Mars v2 work, Droplets opportunities, or anything else Mars related, join our community Telegram channel:

t.me/marsprotocol

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Remember, Cosmos, Neutron, Osmosis and Mars are experimental technologies. This post is subject to and limited by the Mars disclaimers, which you should review: https://docs.marsprotocol.io/docs/overview/legal/disclaimers-and-disclosures

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