Benchmark Protocol

Overview of Benchmark Protocol

  • Benchmark Protocol says crypto enthusiasts may prefer MARK to stablecoins because of how it has a global inflation risk profile instead of a single currency risk profile, is shielded against inflation, and addresses collateralization risk, where stablecoins can become insolvent because the collateral backing it’s now worth less than the asset that was issued.
  • 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.
  • Benchmark Protocol’s goal is to create a bridge between traditional finance and the crypto markets — all while adopting and refining a proven rebase algorithm introduced by Ampleforth.
  • Benchmark Protocol says that a unique feature of The Press means unclaimed rewards are not subject to supply adjustments — helping to promote long-term price stability around the peg.
  • Benchmark Protocol ($MARK) is a supply elastic, stablecoin-alternative that connects traditional finance with the cryptocurrency market by revolving around the volatility index.
  • Benchmark Protocol produces its own wallet software that is available for download on its website, which allows you to store Benchmark Protocol on your computer.
  • Benchmark Protocol’s core utility is to serve as a medium of exchange, with properties including collateralization and serving as a portfolio hedge.
  • Benchmark Protocol has also been building on Solana to further enhance its cross-chain capabilities — boosting liquidity in the broader DeFi sector.
  • Benchmark Protocol is thrilled to announce the appointment of Kurt Uhler as Chief Operating Officer (COO).
  • Benchmark Protocol will undergo the network’s first supply adjustment on December 28th, 2020 (EST).

    • Blockchain

    Overall the Benchmark protocol manages to deal with the issues of volatility and inconsistency within the blockchain elegantly.Through MARK and xMARK utility tokens, users are ensured that rules-based, non-dilutive, and supply-elastic collateral will facilitate their crypto journey.

    Network

    DEX, lending, etc).The Benchmark Protocol team sees Polygon as one of the fastest growing Ethereum compatible networks and we expect many DeFi applications to be supported and developed on Polygon in the near term future.We are happy to announce that with the successful bridging of xMARK onto the Polygon network, we are able to ensure early availability of Benchmark Protocol’s utility on all emerging DeFi applications on the Polygon network (i.e.

    Support

    …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.Thank you everyone for your continued support!We are elated to welcome all of you who have become integral members of the Benchmark community.

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    How do I buy Benchmark Protocol?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Benchmark Protocol.

    What coins are similar to Benchmark Protocol?

    The following coins use Benchmark Protocol’s ETH Token algorithm and proof-type: Chainlink, THETA, Binance USD, DREP, DREP [old], PancakeSwap, Aave, FTX Token, Maker, Crypto.com Coin, Huobi Token, Dai, Polygon, Chiliz and Holo.

    What hashing algorithm does Benchmark Protocol use?

    Benchmark Protocol is a coin that uses the ETH Token algorithm.

    What is Benchmark Protocol?

    Benchmark Protocol is a supply-elastic collateral and hedging system driven by a volatility index.Simply put, the Benchmark Protocol lessens liquidation events and hedges risk with its very own cryptocurrency, the $MARK token.

    What is 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.

    What is Benchmark Protocol?

    Benchmark Protocol is a DeFi (Decentralized Finance) protocol that connects traditional financial markets to DeFi markets.The protocol is a rules-based, non-dilutive, supply-elastic collateral utility that also acts as a hedging device.Supply is adjusted based on the 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; 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.

    What is Benchmark Protocol?

    Benchmark Protocol was invented by David Mass—a former career banker at CitiGroup.After noticing the limits of cryptocurrency markets during periods of high volatility, Mass created the Benchmark Protocol as a stablecoin that would automatically inject liquidity into the markets when needed.

    What is the Protocol?

    The Protocol is a multilateral contractual amendment mechanism that enables adhering parties to incorporate the Supplement into relevant transactions with multiple counterparties on the same platform, rather than having to amend contracts by way of a bilateral negotiation with each of those counterparties.As with other ISDA protocols, adherence is evidenced by the online delivery of an adherence letter to ISDA.Once a party has adhered to the Protocol, it must then exchange completed questionnaires with each counterparty in respect of whose transactions the Supplement is to apply.

    What is the Supplement?

    The Supplement was published in September 2018 and was developed primarily to facilitate compliance with the EU Benchmarks Regulation (the “BMR”).The BMR has been in force since 1 January 2018 and requires in-scope entities to have in place “robust written plans” detailing the measures that they would take if a relevant benchmark used in in-scope financial instruments were to change materially or cease to be provided, and to reflect those plans in contractual relationships with clients.This includes setting out specific fallbacks that would apply in such case.Incorporation of the Supplement into the terms of relevant transactions would ensure that the necessary fallback arrangements are included.It covers interest rate products, equity derivatives, foreign exchange transactions, currency options and commodity derivatives and contains four annexes, each of which supplements the applicable ISDA definitions booklet.The Supplement can also be used by market participants irrespective of whether they are subject to the BMR, as part of their preparation to transition away from inter-bank offered rates (“IBORs”) (see “Further Considerations” below).For more information on the Supplement, see our previous briefing.

    What is the value of Benchmark Protocol?

    One Benchmark Protocol (MARK) is currently worth $1.48 on major cryptocurrency exchanges.You can also exchange one Benchmark Protocol for 0.00002579 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Benchmark Protocol in U.S.dollars is $41.07 million.

    Where can I get Benchmark Protocol wallet?

    Benchmark Protocol produces its own wallet software that is available for download on its website, which allows you to store Benchmark Protocol on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

    History of Benchmark Protocol