Benchmark Protocol Whitelists DinoSwap in Advance of the P2P Marketplace Launch
Benchmark Protocol is happy to announce that the DinoSwap token (DINO, ERC-20) of dinoswap.exchange will be whitelisted on the upcoming Benchmark Protocol P2P Marketplace. There is already existing collaboration between both projects in the form of incentivized xMARK farming and staking pools on DinoSwap. To learn more about these incentives, read our previous announcement on that topic here.
DinoSwap is a new multi-chain farming platform that has taken Polygon by storm. Reaching over 500M TVL in just three short weeks, DinoSwap has been the go-to farming platform for yield farmers due to its business development connections, security and unique position in the market. DinoSwap has completed three separate CertiK smart contract audits and is backed by the top VC funds in DeFi. Strategic Angel Investors such as the Founders of Polygon, Terra, and SushiSwap are also supporting the project. The xMARK — USDC LP Token farm (liquidity pool on SushiSwap) currently has +$8.2M in TVL with an APR of 177%. As such, we are confident in our cooperation with the platform. Polygon is a fantastic platform for farming due to the fast transaction speeds, negligible transaction fees, and easy-to-use bridging solutions. DinoSwap offers LP token farming, and single asset staking mechanisms with the “Extinction Pools”, “Tar Pits”, and “Jurassic Pools”. To learn more about DinoSwap and how to farm, read the official documentation found here.
The reward token, DINO (ERC-20, bridged to Polygon), is a medium of exchange token that powers DinoSwap and is used to facilitate cross-chain liquidity. The P2P Benchmark Protocol Marketplace will facilitate a lender-driven exchange for DINO-based loan offerings. The Marketplace has passed a series of thorough smart contract audits and is on track to launch in late August. Upon launch, the DinoSwap community will be able to diversify their yield farming strategy by loaning out their DINO tokens on the Marketplace. Terms will be fully customizable and all P2P interactions are fully permissionless. We are looking forward to tapping into the rapidly growing multi-chain farming industry to leverage the influx of capital that will naturally gravitate towards decentralized yield opportunities.
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About Benchmark Protocol
Benchmark Protocol mitigates liquidation events and hedges risk with the MARK token; a supply elastic, stablecoin-alternative that connects traditional capital markets to DeFi. The protocol operates as a rules-based utility that dynamically adjusts supply based on the CBOE volatility index (VXX) and deviations from the target metric — equal to 1 Special Drawing Rights (SDR) unit. Employing the SDR creates a larger use case rather than exposure to just one currency; the application of this creates a larger user base and delineated exposure to markets around the world. The DeFi space needs a collateral utility that retains its efficacy and increases inherent, baseline liquidity during periods of high volatility. Benchmark is built on the Ethereum blockchain. The MARK token is the native asset in the Benchmark network and provides only the utility value available to it through the Benchmark network.