Monthly Recap: December in review
Sailing into 2021 — Reflecting and looking ahead!
Greetings, and happy new year!
Thank you everyone for your continued support! We are elated to welcome all of you who have become integral members of the Benchmark community. Looking back, it’s been over 6 weeks since Benchmark Protocol’s MARK token launched, and we would like to take this opportunity to pause and extend our thanks to each and every one of you for your continued support and dedication. Our voice in the Defi space is quickly growing, and we look forward to building upon the foundation that we established in 2020 while we drive awareness and expansion with the community in 2021.
We cannot thank our Benchmark members enough for participating in liquidity mining, providing feedback, supporting us, and spreading the word about $MARK!
Wondering what Team Benchmark has been up since our Launch?
Benchmark Protocol commenced its Fair launch, via the Launchpad. The “Benchmark Launchpad” comprised of a diverse yield farming menu. The fair launch consisted of 9% of the total MARK ecosystem allotted to 20 liquidity pools. The distribution of the MARK token through yield farming occurred over a one-month period.
By any and all metrics, the Launchpad was a huge success and we achieved our goal of getting the MARK token in the hands of the people, without an IEO or ICO compromising the project’s future and longevity. Over the one month duration of the Fair Launch, the Launchpad maintained an average TVL well above $15m USD, with a peak TVL of $34m USD, making it one of the largest yield farming launches over the last several months in the DeFi space. After successfully culminating the Fair Launch, we transitioned from the Launchpad to The Press.
In addition, Benchmark Protocol executed its first supply adjustment on December 28th, 2020. Simply put, this is a process where the total number of MARK tokens will be adjusted to adhere to the SDR peg, where 1 MARK equals 1 SDR Unit. Furthermore, supply adjustments are accomplished through implementing a rebalancing algorithm. Rebalances occur on New York Stock Exchange trading days within a 5-hour window after the settlement of CBOE VIX contracts. Read more about, our first supply adjustment.
Benchmark Protocol has been fully audited, secured and tested by CertiK
The Benchmark Team includes experts with experience in traditional banking, blockchain and Defi space.
Additionally, the Benchmark panel of advisors consist of professionals that currently work inside renowned blockchain projects: Michael Burgess — COO from REN, Tom Bean — Founder of bZx Network; Meltem Demirors — CSO of Coinshares; Ajit Tripathi, Former director of Binance; Steve Schwartz- Co-Founder of the Inovo Group
Strategic Partnerships with Benchmark Protocol
- Benchmark Protocol and bZx announced a dynamic collaboration within the bZx ecosystem. Read more
- Benchmark Protocol announced plans on utilizing RenVM to ensure the protocol can excel in a cross-chain environment. Read more
- Benchmark Protocol announced plan to integrate into the Solana network. Read more
- Elastos explores adaptive supply tokens with Benchmark Protocol. Read more
Benchmark Protocol in the News
- Our Inventor, David Mass was interviewed by leading financial publication Benzinga. Article titled- A First In DeFi: Benchmark Protocol Launches MARK Token, An Elastic Collateral, Hedging Device. You can read the full article here.
- Leading blockchain publication Crypto Daily recently covered Benchmark Protocol. Article titled- Supply Elastic Benchmark Protocol Is Re-Defining The Bridge Between Finance And Cryptocurrency. You can read the full article here.
- Coin Gape article — Benchmark Protocol partners with Luna PR for marketing and Public Relations services. You can read the full article here.
- Crypto News Flash article -Benchmark Protocol, a Volatility Driven Supply Elastic Collateral, Launches 8X Yield Farming Initiative. You can read the full article here.
- We have two pools on Sushi Swap, $MARK — $USDC and $MARK — $ETH
- Defi Pulse has added Benchmark Protocol to the DeFi List
- $MARK token has been added to Blockfolio
- $MARK token has been added to CoinGecko
- Exchange Listing: $MARK token has been added to Bilaxy Exchange*
- Exchange Listing: $MARK token has been added to Hotbit.io*
*Please note: This exchange onboarded us independently and might not support rebasement. Use at your own discretion. The team recommends using Uniswap.
We held three AMA’s last month, with the communities of Elastos, Venus & Friends and Cryptodiffer. The focus of the AMA’s was on educating the community members about Benchmark Protocol, and how the $MARK token adds value to the Defi sector. In case you missed the AMA’s, listed below are respective AMA details:
- AMA with Elastos community was held live on their Telegram Channel: Read it here
- AMA with Venus & Friends community: Read it here
- AMA with Cryptodiffer community was held live on their Telegram Channel: Read it here
As we start the new year, we believe that one of the core pillars which will help drive Benchmark Protocol forward is the community; your involvement will help us in building and growing our ecosystem.
Last but not least, thank you for making our launch such a memorable one for the Benchmark team. We’re looking forward to an exciting year together.
About Benchmark Protocol
The Benchmark Protocol is an Uncorrelated, Liquid, VIX-denominated Collateral Utility. The protocol is a rules-based, supply-elastic collateral utility that adjusts supply based on volatility indexes (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; 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.
- Learn more by visiting the project website: