Benchmark Protocol is excited to announce their partnership with the Luna PR team. Luna PR will be working closely with Benchmark Protocol to provide proven marketing and public relations strategies to help foster brand recognition and grow community awareness.
The team behind Benchmark Protocol has been working on development since late summer, building out a supply-elastic collateral, pegged to the SDR rate. The protocol functions as a hedging device driven by the Chicago Board Options Exchange’s (CBOE) Volatility Index.
(VIX) by injecting liquidity during periods of high volatility in correlation with global equities markets. The VIX index rises during periods of uncertainty by measuring the prices out of the S&P 500 index options, making it the ultimate barometer for both risk and market sentiment in securities markets.This creates a unique, adaptive supply mechanism to optimize value and stability, connecting traditional finance to cryptocurrency markets.
After the team launched it’s mainnet through the Benchmark Launchpad, the MARK token has been listed on Uniswap’s Decentralized Exchange and Bilaxy. The project has successfully bootstrapped liquidity and is driving impressive trading volumes. The launchpad features 20 pools on Uniswap where Liquidity Providers are currently being rewarded MARK tokens through yield farming, with top APYs hitting +800%.
The protocol has been audited by CertiK, and the team has secured a consortium of partnerships with blockchain projects including bZx Network, Solana, Ren Protocol and Elastos.
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. The supply of MARK adjusts by tracking the movement of the CBOE volatility index.
Luna PR is a global marketing and PR agency focusing on the crypto and blockchain sector. Since 2017, they have worked with over 50 renowned projects including Huobi and eToro, focusing on increased exposure and growth. LUNA PR sees incredible potential in the booming DeFi space and is excited to work with Benchmark Protocol.
Building Awareness for Benchmark Protocol
Usage and utility of the Benchmark Protocol network is expected to grow exponentially; developing the community while bringing a formidable newcomer in the adaptive supply space will drive collaborative efforts for both LUNA PR and Benchmark Protocol.
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