Wanchain And Benchmark Protocol Form A Strategic Partnership; wanTokens to Empower Benchmark Marketplace
Strategic Partnership Between Wanchain And Benchmark
In February 2021, Wanchain and Benchmark Protocol formed a strategic partnership. On the basis of Wanchain’s innovative multi-chain bridges and Benchmark Protocol’s brand-new P2P lending platform Benchmark Marketplace, both parties will carry out in-depth and constructive cooperation on cross-chain DeFi applications empowered by cross-chain mechanism.
In a pragmatic spirit, the two parties have reached an agreement to use “Benchmark Marketplace + wanTokens” as the entry point, allowing assets (wanBTC, wanETH, wanUSDT, wanDOT, WAN, etc.) on popular public chains to be integrated into Benchmark Marketplace, and those assets will be used for the lending types of tokens. By doing so, the Benchmark Marketplace, powered by cross-chain, will have richer lending tokens and better services as well as greater competitiveness. The two parties will put forward “Cross-chain + DeFi applications” step by step.
Benchmark Marketplace: Lender-driven exchanges for Loan Offerings with More choices of Cross-chain Assets
The Ethereum-based Benchmark Marketplace creates a lender-driven exchange for loan offerings. A lender creates a Marketplace contract through the Benchmark interface and defines the conditions (such as the lending out tokens, the loan ratio, etc) for their loan offering. A single loan offering can serve many different borrowers, as long as the created Marketplace contract holds enough tokens to provide the loan.
The peer-to-peer lending services, the custom lending cryptocurrencies and interest rates, the any-time payoff mode, and the 100% fully decentralized lending mechanism constitute a remarkable highlight of the Benchmark Marketplace.
Wanchain’s cross-chain mechanism will enrich the types of loanable cryptocurrencies on Benchmark Marketplace. Wantokens such as wanBTC, wanETH, wanUSDT, wanDOT, WAN will be integrated to the Marketplace step by step, so as to meet the needs of both borrowers and lenders.
Wanchain Multi-chain Bridges Mechanism: Supports Cross-chain wanTokens, enabling unlimited possibilities for cross-chain DeFi
Wanchain empowers developers to build truly trustless, decentralized, cross-chain financial applications which connect with real world value. Wanchain has been building infrastructure to enable interoperable DeFi since 2017. In the past four year, the team has successfully cross-chain integrated with BTC, ETH, EOS, ERC20, etc.
The Multi-chain Bridges mechanism is a novel cross-chain solution proposed by the Wanchain team to provide a high level of security and scalability. In this mechanism, all the direct bridges are run by a shared Storeman group with a shared staking deposit pool. This design reduces the complexity of the cross-chain process and ensures that all the cross-chain assets can freely “flow” among any chain. Moreover, it increases the maximum cross-chain capacity of a single bridge in security precondition.
The partnership between Wanchain and Benchmark Protocol will achieve a seamless integration of wanBTC, wanETH, wanUSDT, wanDOT, WAN and other cross-chain assets on Benchmark Marketplace. Due to the perfect design of Wanchain’s multi-chain bridges mechanism, the security of cross-chain assets and the smooth experience of cross-chain assets lending are effectively guaranteed.
About Benchmark Protocol
Benchmark Protocol is a Supply Elastic Collateral and Hedging Device, Driven by the Volatility Index. 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.
About Wanchain
Wanchain empowers developers to build truly trustless, decentralized, cross-chain financial applications which connect with real world value. Wanchain has been building infrastructure to enable interoperable DeFi since 2017. Wanchain’s Storeman node powered cross-chain bridges eliminate the barriers between blockchains and allow you to use assets from multiple blockchains with differing technical architecture in your favorite DeFi applications. Multi-party computation, threshold secret sharing, and crypto-economic incentives power their solution for moving value between chains in a trustless, permissionless, and decentralized manner.
Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.
