According to TechFlow, Mars Protocol announced that it has successfully deployed 200,000 ATOM tokens from the Cosmos Hub community pool to the Mars Protocol Red Bank on the Neutron network.
This action is based on Cosmos Hub proposal #945. With the injection of a large amount of ATOM, the lending rate of ATOM has dropped significantly, and the current annualized interest rate is approximately 1.38%.
Mars Protocol said that this lower interest rate is expected to drive more user adoption and DeFi activities within the Cosmos ecosystem. The increased liquidity will support a variety of advanced DeFi strategies, including leveraged staking, unilateral LP vaults, etc.
