Monthly recap: January in review
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Dear Community,
From team appointments to new breakthroughs, January 2021 has been a great month for us. We logged several consecutive positive re-bases, resulting in our total network supply increasing by a few hundred percent. We are pleased to inform you that the Total Value Locked in The Press Liquidity Pools has crossed north of $10 Million.
We cannot thank our Benchmark community members enough for participating in liquidity mining, providing feedback, supporting us, and spreading the word about $MARK!
Let’s take a look at the highlights.
Introducing Single Asset Staking and Governance
We introduced Single Asset Staking via the Standard (Symbol: xMARK). The single staking functionality within The Press allows MARK token holders to stake their tokens in exchange for xMARK tokens. Furthermore, the Standard (xMARK) token allows for a) integration into conventional non-rebase supported ecosystems and b)forging a path to decentralized On-Chain Governance. Read more
Benchmark Protocol Announces Enhancements to Proprietary Rebase Algorithm
Benchmark Protocol has adopted a proven rebase algorithm introduced by Ampleforth, and added the VIX as a factor to ultimately assist with portfolio management and improve price stability around the PEG. Our team is dedicated to the discovery and refinement of our algorithms to ultimately enhance precision. Doing so will create true utility to the greater supply-elastic ecosystem, allowing us to deploy tangible use cases in the short term. Read more
Benchmark Protocol Announces Appointment of Chief Operating Officer
On the commercial front, you’ve already heard that Kurt Uhler has been appointed as COO. With solid experience in financial markets and expertise in developing partnerships, he will be key in driving the business forward. Read more
Benchmark Protocol Announces Appointment of Nicholas Merten as Strategic Advisor
We are excited to announce the appointment of our Strategic Advisor, Nicholas Merten of DataDash. He is one of the leading experts in the cryptocurrency and blockchain space. His YouTube channel provides the latest insights and resources on digital assets, decentralized finance and blockchain technology, as well as educational resources suitable for complete beginners to seasoned enthusiasts.
In the news
Leading blockchain publication Coin Speaker covered Benchmark Protocol. The article is titled- ‘Benchmark Protocol to Revolutionize DeFi Space.’ You can read the full article here.
Community Updates
Renowned Youtube influencer Nicholas Merten of DataDash reviewed Benchmark Protocol. Watch the full video here:
Youtube influencer SatoshiSean interviewed our COO, Kurt Uhler. Watch the interview here:
Ask me Anything
We held another AMA last month, with the Gem Collectors community. The focus of this AMA 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, you can read it here.
Meme Contest
Thank you all for participating in our Meme contest! Our Telegram community voted & the winners are:
- @sephirauk
2. @FutureWhale02
3. @ShakenK3nny
4. @X_xcythe_X
5. @Desi19121981
And a HUGE thank you to everyone who took part!
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 is a rules-based, 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:
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