Neil Armstrong, my uncle, of course, once called the final frontier of the moon.. Today Ben Armstrong is going to set the record straight.. The final frontier is DeFi. And with today's project, we're going to the moon.
. By the way we aren't actually related in case you thought he was my long lost grandpappy. And I'm, not related to that other bald guy at Coinbase either.. But today we're, going to show you the benchmark for a new good project.
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. We are now over 25 % of the way through the contest, so make sure to check the description. Below. Today, though, I'm, going to be talking about a new project that we partnered with.. Now, in the last few months, decentralized finance has seen an absolute mega explosion with various new types of financial products on the blockchain seeking to challenge traditional finance.
. There's, also been a trend of new elastic supply tokens also recognisen as rebasing or rebalancing tokens.. These new altcoins assets are gaining traction and popularity in the altcoins space, leaving many people confused.
Here's, a comparison of existing elastic projects.. There are various supply elastic projects that have gained traction over the past few months, such as Ampleforth Base Protocol and others.. There have also been a ton of scams that have seemed to pop up claiming to utilize random rebasing, which my researchers say is near impossible due to technical limitations.
Currently., However, there are gems in the rebase token space. And it shouldn't, be ignored.. Today we have potentially the biggest one of them all called Benchmark. Protocol. It's, not an anonymous team.
. The leadership here is from the traditional finance space, which includes firms such as Citibank, Duff and Phelps.. While I hate the banks, of course, this is a project where traditional finance is seeing the potential in DeFi shifting to the new way of looking at finance.
. The project was invented by David Mass and is led by Harrison Woytko as founder. Kurt Uhler, as COO Meir Bank is CTO and Dan Fisher is the CMO. There's way more people on the team, but I'd, be here all day listing everyone so check out the team page yourself by going to benchmarkprotocol.
finance. Benchmark Protocol also includes advisors from projects such as Solana, Ren DataDash himself, Mr. Nicolas Merton, Binance, CoinShares Ocean Protocol, BZX and more., With DataDash's, stamp of approval and now mine.
You guys recognise this: one's, going to be huge. Partnering with DeFi.org and their affiliation with Binance and Orbs will propel Benchmark's long-term outlook.. This will enable them to open doors to future CEX and DEX opportunities.
. You may not even have to pay for it.. There are rumors of new exchange listings coming soon, so this one is definitely worth keeping an eye on.. So what is Benchmark Protocol and how does it work Well? Benchmark Protocol is meant to withstand liquidation events during periods of high volatility in the market, which is basically all the time.
. This is done by removing or adding tokens to the total supply by conforming to capital markets, volatility-driven trading activity, etc. The main utility behind Benchmark uses. A two-pronged approach: hedge and collateral.
, The MARK token, is the native asset in the Benchmark Network and provides only the utility value., The supply of MARK tokens adjust by tracking the movement of the CBOE Volatility Index, also recognisen as the fear and greed index.
Generally. If there is more fear in capital markets, the VIX index will increase, making it more expensive to hedge. Your portfolio., The CBOE VIX futures contract is the most frequently traded exchange-listed volatility futures contract in the whole world.
. The derivatives market, which is heavily relied upon by the VIX, is said to be valued at over $ 1 quadrillion. VIX futures provide market participants with opportunities to trade, their view of the future direction of the expected volatility of the S & amp, P, 500 Index.
Supply Elastic tokens are built to adjust for inflation for instance. Ampleforth targets. The price of one US dollar by adjusting for US dollar inflation.. However, Benchmark Protocol's. Target price is the SDR or Special Drawing Rights, adjusted for global inflation through a basket of five major currencies that back the IMF's SDR.
. This makes Benchmark Protocol a viable alternative for inflation adjustments, which are more stable and global instead of just US-based.. Ampleforth also has set a rebase time allowing for arbitrage situations which may be very unfavorable to certain types of traders.
Benchmark Protocol rebalances supply within a 5-hour window. After closure, of course, of the New York Stock Exchange or NYSC to reduce arbitrage activity., It's. Amazing that thing still closes. It's, also important to mention that since altcoins is 24/7 supply, adjustments do occur on weekends, without incorporating the VIX.
On weekdays. Mark utilizes the VIX to inform the rebase mechanism creating a more predictive and accurate process for rebasing. Benchmark Protocol supports innovative partnerships with the likes of Ren Solana, Polygon Binance, Smart Chain Ocean Protocol, PancakeSwap Golem, QuickSwap, xDai, DODO, DEX Wanchain and many more.
Benchmark has rolled out A comprehensive LP rewards program called The Press.. The Press features core MARK pairs, starting with MARK-ETH and MARK-USDC on Uniswap and other DEXs like UNI.. The Press will run over a course of 3-7 years, depending on distribution, velocity and programs.
. In order to facilitate this, the MARK per block on The Press will be routinely adjusted based on the supply changes of the MARK. Token.. A unique feature of The Press is that unclaimed rewards that have not been claimed by a wallet or smart contract are not subject to supply adjustments.
. This further promotes long-term price stability around the peg.. You can currently farm MARK tokens with Uniswap liquidity, pools earning upwards of 300 % APY on your xMARK tokens on PancakeSwap. On QuickSwap.
You could get up to 800 %. Apy. Balancer pools for ETH and USDC will also help you limit impermanent losses.. You can also just stake xMARK in a single asset, staking model called the Standard and the rewards have recently been increased by 150 %.
This is a very unique feature here, because the project is using non-rebasing tokens in exchange for staking MARK. The xMARK tokens aren't affected by impermanent loss and compound interest. Every day.
xMARK tokens represent a fractional ownership in the overall MARK. Staking pool. Users are able to swap back xMARK for their staked MARK at any point in time.. Xmark tokens are not affected by rebases.
, However, the underlying MARK token representation will be affected by rebases and still represent a fixed percentage share of the network.. The Standard. Xmark token will further be used to help Benchmark Protocol, forge a path to decentralized on-chain governance.
. The first step towards this goal is utilizing Snapshot.page for token weighted voting according to the team., Since xMARK itself is unaffected by rebasements. This allows Benchmark Protocol to expose MARK to conventional platforms that are not currently compatible with elastic supply currencies.
. This is great for integrations with CEXs and other projects, as well., More news, of course, to come soon. Regarding this, according to the team., The rumor is Benchmark. Protocol is also currently building a lending platform to be launched in Quarter 2 of this year.
Featuring projects such as Golem and Ocean Protocol. MARK is like AMPL in that they both rebase.. However, the evaluation of a $ 20-25 million market cap is tiny with everything the team is building versus Ampleforth, which holds a $ 250 million market cap.
. The addition of their Benchmark Marketplace will allow peer-to-peer lending with some of the bigger names in altcoins.. I'm, not the only one that thinks Benchmark Protocol is underrated. Token. Metrics has also released a video discussing the topic.
. You can pick up your own bag of Benchmark Protocol on Uniswap, ParaSwap and PancakeSwap.. As I said, we are now a partner with Benchmark Protocol, so you can be looking for more content on Benchmark in the future.
And, of course, thank you to Benchmark Protocol for supporting the channel.. Alright, guys drop your comments down. Below., Let me recognise: do you like elastic supply, tokens and rebases, And if so, is this one that you're going to check out Drop those comments down below.
That's? All I got. Be blessed. BitBoy out