> For the complete documentation index, see [llms.txt](https://mars-protocol.gitbook.io/mars-protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://mars-protocol.gitbook.io/mars-protocol/mars-onboarding.md).

# Mars Onboarding

Welcome to all Martians! :astronaut:

Mars is a credit protocol for the future: non-custodial, open-sourced, transparent, algorithmic, and community-governed. 

Mars has three primary components:

1. **The Red Bank:** Where users can lend and borrow assets (this is also known as collateralized borrowing).
2. **The Fields of Mars:** Where users can interact with applications built on top of the Red Bank such as leveraged yield farming (this is also known as contract-based borrowing). 
3. **The Martian Council:** Where users with staked MARS (xMARS) can propose and vote on changes to the protocol.

Mars Protocol consists of various participants:

* **Lenders:** Deposit assets into Mars liquidity pools, earning an interest rate
* **Borrowers (collateralized):** Borrow assets from Mars liquidity pools using their deposited assets as collateral. These borrowers must therefore also be depositors (lenders)
* **Borrowers (contract-based):** Smart contracts that borrow assets from Mars liquidity pools without posting collateral. Each smart contract credit line must be approved by governance and will include a credit limit to mitigate the protocol’s risk exposure
* **Martian Council:** Stake MARS in order to earn protocol fees, participate in governance and backstop certain kinds of protocol risk

The motivation behind Mars is simple: 

> *To become the leading DeFi credit protocol; becoming the lender of choice for both consumers and dApps.*

Mars puts an emphasis on security and usability and composability -- not just for crypto natives but for the industry’s next 1 billion users.