Benchmark Protocol whitelists Golem (GLM) in advance of the Benchmark Marketplace Launch
The Benchmark Protocol Team is excited to announce that Golem (GLM token) will be Whitelisted on the Benchmark Marketplace.
The GLM token is a utility token used to access the Golem Network, through which you can pay other users within the Network for renting computing resources. The Marketplace, a peer-to-peer platform, will facilitate a lender-driven exchange for GLM loan offerings.
The GLM token (which is now ERC-20 compliant) was recently migrated from GNT, enabling Golem to leverage layer 2 solutions for payments, decentralized exchanges and DeFi. A GLM lender will be able to create a Marketplace contract through the Benchmark interface and define the conditions for their loan offering. The Marketplace, which will go through a smart contract audit, is slated to be released in Q2, 2021.
“The ERC-20 GNT -> GLM migration had several goals, but a very present one was to allow our token holders to leverage DeFi with GLM. We have been following Benchmark and the team and we are looking forward to seeing how the protocol evolves and our token holders take advantage of this new DeFi Platform!” — María Paula Fernández, Advisor to the Board of Directors, Golem Factory GmbH
“This is a very exciting and mutually beneficial link between two marketplaces that stand to benefit from increased liquidity and accessibility. Golem “requesters” and “providers” will be able to quickly tap into our exchange marketplace to either buy or sell any resources they deem necessary.” — Kurt Uhler, Chief Operations Officer, Benchmark Protocol
About Golem
Golem Network is a marketplace for idle computing power. It enables providers and requestors of computing power to connect in a trustless peer-to-peer network enabling both application owners and individual users (“requestors”) to rent resources from other users’ (“providers”) machines. These resources can be used to complete tasks requiring any amount of computation time and capacity. Nowadays, centralized cloud providers are in control of these services, these platforms are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Golem proposes an open-source, decentralized and user controlled alternative.
www.golem.network
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 (VIX) 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.
