Posted 12 months ago | by Catoshi Nakamoto

The Benchmark Protocol Team is thrilled to announce that the upcoming Benchmark Protocol P2P Marketplace will be utilizing The Graph back-end integration. This will achieve increased decentralization, easier scalability, and create more opportunities to expand the Marketplace across different DeFi ecosystems. The Graph is the decentralized indexing and querying protocol utilized by Web3 (Ethereum, IPFS, Fantom, Celo, Avalanche and many other networks). As blockchain infrastructure continues to improve and connect into real-word applications, open APIs (referred to as subgraphs) make it possible to provide accurate data feeds into decentralized applications. Benchmark Protocol is proud to support the development of Web3 applications that unlock DeFi opportunities for everyone around the world.

Benchmark Protocol

Uniswap, Synthetix and Balancer are already utilizing subgraphs provided by The Graph and many other DeFi services are expected to follow suit. Any DeFi platform can make use of The Graph as it is an open layer on top of the blockchain. Users can create and publish their own API for use within dApps. Creators are rewarded with fees collected when their subgraph is queried. All query fees and rewards are distributed via Graph Tokens (GRT).

0*0BXYSGvbB5bpkrnz Benchmark Protocol P2P Marketplace Update: The Graph Implementation — June 16th 2021

Back end sneak peak of a P2P loan

Marketplace Updates

The P2P Benchmark Protocol Marketplace will facilitate a lender-driven exchange for a wide array of token loan offerings. The Marketplace has passed an extensive smart contract audit and is on track to launch soon. The Marketplace will be the world’s first fully permissionless cross-chain P2P lending platform servicing all ERC-20 tokens upon launch with plans to expand into other L1’s. The implementation of The Graph as the underlying indexing solution has created a slight delay in the roll-out of the Marketplace, however, the added functionality will significantly speed up the process of expanding the Marketplace cross-chain. The Marketplace is set to launch between July and August. Updates will follow leading up the launch along with new marketing efforts.

Over the past few months, the business development team at Benchmark Protocol has established strong relationships within the DeFi space that will be leveraged to create a successful launch for the Marketplace. We are just as eager as the community to deploy this all-new DeFi infrastructure and we’re certain it will be popular given the relentless demand for yield in the market. There are many moving parts to the Benchmark Protocol ecosystem and we are exploring ways to ensure governance is addressed in the spirit of decentralization. We appreciate your patience and encourage you to participate in the discussions happening in our official Telegram community. Introducing MARK as an uncollateralized elastic-supply stablecoin alternative into the world of lending will create very interesting use cases for the market at large.

About The Graph

The Graph is the indexing and query layer of the decentralized web. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL. The Graph currently supports indexing data from Ethereum, IPFS, and PoA with more networks coming soon. To date over 10,000 subgraphs have been deployed by ~18,000 active developers for applications such as, Uniswap, Synthetix, Aragon, Gnosis, Balancer, Livepeer, DAOstack, AAVE, Decentraland, and many others.

If you are a developer building an application or Web3 application, you can use subgraphs for indexing and querying data from blockchains. The Graph allows applications to efficiently and performantly present data in a UI and allows other developers to use your subgraph too. You can deploy a subgraph or query existing subgraphs that are in the Graph Explorer.

The Graph would love to welcome you to be IndexersCurators and/or Delegators on The Graph’s network. Join The Graph community by introducing yourself in The Graph Discord for technical discussions, join The Graph’s Telegram chat, or follow The Graph on Twitter! The Graph’s developers and members of the community are always eager to chat with you, and The Graph ecosystem has a growing community of developers who support each other.

About Benchmark Protocol

Benchmark Protocol mitigates liquidation events and hedges risk with the MARK token; a supply elastic, stablecoin-alternative that connects traditional capital markets to DeFi. The protocol operates as a rules-based utility that dynamically adjusts supply based on the CBOE volatility index (VXX) 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.

Learn more by visiting the project website: benchmarkprotocol.finance

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Original article published on Benchmark Protocol’s Medium.

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g Benchmark Protocol P2P Marketplace Update: The Graph Implementation — June 16th 2021Activist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.