(TheDailyNewsTimes.com — December 29, 2020) —Â Benchmark Protocol connects traditional finance with the cryptocurrency market.
Benchmark Protocol, an uncorrelated liquid, VIX-denominated collateral utility, launches the MARK token to bring stability and robust traditional finance information to the DeFI space.
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Currently, the DeFI space has been riddled with inconsistency, with many projects failing due to technological vulnerabilities, price volatility, and overarching market skepticism.
Benchmark Protocol is trying to change that mindset by using the volatility index to connect traditional finance to the cryptocurrency markets.
Their intention for the MARK token is to withstand liquidation events by using the Volatility Index (VIX) data during periods of high volatility by removing or adding tokens to total supply by conforming to capital marketing.
The MARK token is an ERC-20 utility token that is a native asset in the Benchmark network and provides the utility value through the network. The company aims to create a global impact with the token since it is pegged to the world’s most stable currency, SDR.
Special Drawing Rights (SDR) is a composite international reserve asset that provides a level of consistency and stability lacking from traditional stable-coins. It is a reserve asset created by the IMF, to supplement its members’ official reserves.
What makes the token stand out against the competition is its pegged currency, SDR vs. USD, its supply mechanism based on VIX that provides price options and derivatives that bridges the traditional and native currency markets, and the VIX’s ability prices to spike up even when the markets drop.
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The Benchmark Protocol is a rules-based, supply elastic collateral utility that employs SDR to create a more extensive use case rather than exposure to just one currency, which creates a larger user base and delineated exposure to markets around the world.
They want to make the DeFi space more consistent by using a collateral utility that retains its efficiency and increase inherent baseline liquidity during periods of high volatility.
Learn more by visiting the project website:
https://benchmarkprotocol.finance/
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