This article gives a broad overview not only of Marsbase, but also the OTC industry in general. It will be especially interesting and useful to read to everyone who has not yet encountered OTC. This is the first half of the article, the other one can be found here.
Marsbase is a decentralized OTC platform for making large volume deals. The platform is designed both for crypto whales and retail investors who previously could not enter the OTC market.
Marsbase is a place to make transactions of any size with coins of any capitalization without the risk of affecting their market price. Soon you will be able to trade blocked tokens that have a vesting period.
Marsbase opens access to 4 types of OTC trades with a choice of 1,500+ currency pairs, as well as a launchpad for projects with vesting and the ability to resell vesting tokens. We have combined all this in a single marketplace for all market participants, lowering the threshold for entering OTC deals literally to satoshi and providing tools for managing the reputation.
Additionally, we intend to implement a cross-chain functionality into the marketplace, so our users could benefit from other blockchains apart from Ethereum.
Moreover, the MBASE native OTC token of the Marsbase platform, as well as staking and farming will make your trading experience as profitable as possible. You will be able to receive cashback from your transactions and instantly calculate the profit from transactions on Marsbase.
Affiliate programs traditionally coexist with OTC deals, therefore Marsbase will also present its referral program with 5 levels and 3 types of income from OTC deals and yield farming of your partners. But let’s get back to what we have now. To begin with, we launch a basic version and organize a Testnet.
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A market oversaturated with projects of low capitalization and liquidity issues on exchanges.
One of the main advantages of Marsbase is that the liquidity is available for large crypto deals and is concentrated in one place, rather than being scattered across a dozen exchanges.
At the same time, unlike other OTC desks, the choice on Marsbase is not limited to a shortlist of currencies. There will be thousands of different coins to choose from. At the moment, Marsbase is built on the ETH smart contracts but in the near future, we plan to expand to other blockchains.
While placing an offer on the platform you can set your own discount or premium conditions, closing deadline, stop orders, etc. Offermakers receive bids from other users and, by the way, the minimum bid size can also be specified. Using all of these tools will make deals attractive to both sellers and buyers.
To interact with a smart contract, the user must attach to the platform an external decentralized wallet like Metamask or Trust wallet which will ensure the connection with dAPPS.
After creation, any order must be replenished with the following tokens: ETH, USDT, USDC, or DAI. In the case of using the test network, it’s TUSDC.
Thanks to the unique model of partial transactions (PART MODE), the OTC market will become available not only to whales but also to retail investors (even with $500 in their pocket). Anyone can place a bid on the offer they are interested in or create their own offer on their favorable terms.
Marsbase will also provide its users with a list of reputable and trustworthy OTC partners and managers, grouped by fee, type of transaction, and most importantly, by rating. This will make it easier for the user to choose and speed up the search for liquidity.
The platform provides 2 roles:
Additionally, we implement 2 types of orders:
The Best bid (or Manual) mode will suit offer makers who want to select market offers themselves. Regardless of whether it is a buy or sell offer, the offer maker can choose the best rate offered by bidders and close the deal according to it.
Part mode is made to conduct fractional or discrete trades. As the name suggests, this type can be used to partially close deals. The system automatically splits the buy or sell offer into parts of different sizes (bids). Due to a large number of bidders, both full and partial closing of this deal is possible. This type of transaction will allow you to sell a large volume of medium or low liquid assets to more people in a moderate amount of time.
The platform allows offer makers to set a price that is favorable to both buyers and sellers. For this reason, you may use discounts to sell an asset or premium price to buy a particular token.
PART deals are flexible in setting the terms, minimum bid size, premiums or discounts, and other parameters. These options are not available for Best bid deals. Yet, you can set a limit from 30 minutes to several days for the execution time of the transaction. At the same time, do not forget that long-term auctions can lose their attractiveness in a volatile market.
The platform is also unique as it gathers large investors who create large offers and other market players who can also use the platform as bidders.
A drop of the exchange rates, as well as slippage of prices when making large transactions on CEX and DEX.
Marsbase is an OTC platform, i.e. an over-the-counter market where users can trade without intermediaries. In other words, P2P transactions will take place here. This means tokens are not on the exchange, thus there will be no effect on the market price.
As for price slippage, investors who carry out operations on conventional crypto exchanges lose from 2 to 10% for large transactions, and sometimes more than 15% on DEX. On Marsbase, when selling, you can set a fixed price and manually fill in the deal with the offers that suit the price the most.
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For the OTC market, reputation is everything. We are aware of this, so we are introducing reputation levels, a task center, and many other social functions that will allow you to get the best OTC conditions, prices, large allocations, farming conditions, and much more.
On Marsbase, you will be able to grow your status, earn reputation and expand the circle of investors with whom you do business, find people with similar strategies and values, and combine efforts and capital into pools. Collaboration between crypto whales and retail investors will become possible.
New types of deals
For the most convenient ways of making large deals, we plan to add different transaction models. This will suit best the assets with an uncertain market price (for private or public sale, presale, as well as secondary market sales).
A static order is similar to traditional pending orders. As part of a large transaction, it is automatically filled in small parts at a fixed price.
The main difference from pending orders is managing the minimum fill size, setting a dynamic premium or discount, or having a deadline. The difference from other types of orders on Marsbase is that all parameters are fixed and the conditions of the deal remain unchanged.
It is a secure exchange of assets with a market price or a vesting period between people who have agreed in advance. There is no minimum or maximum trade size. No KYC is needed due to work through external wallets. Only two people know about the deal. The details of the deal are not published on the OTC desk.
It is sufficient to indicate the time and wallets of the counterparties, and the assets required to make the deal.
It is an open auction (bids are seen by all participants) with an increase or decrease of bids. Bidding for a certain offer starts with a fixed price and everyone lowers or raises their bid depending on the buy or sell offer.
Unlike a closed auction (Best Bid), bidders see each other’s bids, the end time of the auction, and the moment when the last bid was made. This will allow you to make smarter investment decisions. The lot is given to the bidder who offered the best price.
Cross-chain for OTC trading
The development of the cross-chain is dictated by demand and the crazy growth in the number of projects on different blockchains. DEX aggregators were able to combine fragmented coin liquidity across different blockchains in one place. That is why Marsbase also plans to develop cross-chain function interacting with cross-chain aggregators.
We want to give users the ability to exchange $500,000 in USDT ERC20 for SOL tokens without slippage or, for example, 250,000 1Inch ERC20 for HUSD on the HECO network.
In addition, we will connect a large number of different reputable fiat providers through which it will be possible to safely exchange fiat for crypto. If we confirm the need in such a function, then in the future we will implement a platform within the P2P section.
Unique conditions for OTC users
For large investors we will offer flexible fees and a loyalty program, which is not yet available on any OTC platform. Marsbase fees will depend on the size of the trade and the currency category (for example, Top 10 or Top 50 on the CMC list). There is no KYC procedure on the platform, so we maintain the complete anonymity of the parties, but at the same time, we guarantee the safety of transactions thanks to smart contracts.
We plan to implement cashback in all OTC operations in mBase tokens, which can be immediately sold on the market. The cashback level will depend on the user’s account level and reputation, as well as on staking sizes.
OTC is a place where large transactions are made, and the bonuses from them may not be small. On Marsbase, you can count on rewards from your partners’ operations. The main advantage of our affiliate program is its utility. The higher the partner level, the better conditions for trading, investment, etc. you will receive. This is especially interesting for OTC managers, whose job is to find the best offer.
An affiliate program with a depth of 5 levels will make the experience of using the platform as profitable as possible and will bring additional income from the expenses and income of your partners. [Second word: BID]
If you would like to suggest any other features that might be useful to you, or if you want to vote for an existing one, you can do it here:
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Many crypto investors are dissatisfied with the fact that they have huge amounts of assets locked for the vesting period making it impossible to trade them and earn any income from them properly. To allow users to trade locked tokens of new projects and create a secondary market where it was previously not possible, Marsbase plans to become a point of entry for such projects. We offer a launchpad with token wrapper and SAFT workflow automation.
It is a fair launchpad focused on freeing up VC investments. Users will have the choice to access projects, add assets to staking, or build up their reputation to gain access to various tiers.
Trading locked tokens
Investors with large volumes of tokens received from early presales will be able to trade them even before unlocking, without affecting their market value.
The smart contract will transfer the ownership of tokens from one wallet to another, indicating the freeze period, for example, 3, 6, or 12 months. After unlocking, tokens will be received in a 1:1 ratio. The number of resales is not limited or regulated in any way.
The Marsbase platform has its own native token MBASE.
After the launch, MBASE will act as a utility management token, which will reveal additional benefits of Marsbase to its users.
MBASE holders will be able to vote on the introduction of new features and services on the platform.
Staking and Commissions
Users will be able to stake their MBASEs in a variety of high, mid and low cap token pools. These pools will share 50% of our commission income with the stakers. As staking volumes change, users will be interested in finding pools that generate more commissions.
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