PancakeSwap Welcomes Benchmark Protocol to Syrup Pool!
CAKE holders, today we are thrilled to be able to offer you a new Syrup Pool from Benchmark Protocol, where it mitigates liquidation events and hedges risk with the xMARK token; a supply elastic, stablecoin-alternative that connects traditional capital markets to DeFi.
xMARK is a non-rebasing version of the underlying MARK token, which rebases. As of writing, 1 xMARK = 2.8 MARK (the ratio changes on a daily basis, coinciding with supply adjustments). For reference, go to https://thepress.benchmarkprotocol.finance/stake to view the xMARK — MARK ratio.
The Syrup Pool:
Stake CAKE tokens, to earn xMARK tokens!
Total Tokens: 71,428 xMARK
Distribution duration: 60 days
Start block: 5351850 (March 3rd 3PM SGT)
Finish block: 7079850 (May 2nd 3PM SGT)
Token rewards per block: 0.0413 xMARK
The Farm:
In order to host the xMARK Syrup Pool, we will need to provide a xMARK-BUSD farm that will have 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that.
The Vote:
As usual, it needs to be approved via a vote.
Why do we need a vote? Since it dilutes rewards, the chefs want BSC’s greatest community to make the decision themselves.
What is Benchmark Protocol?
The current DeFi space has been marred with inconsistency. Many projects in the arena have failed as a result of technological vulnerabilities, price volatility and overarching market skepticism. However, stakeholders rightfully continue to see the inherent value of decentralized finance. Unfortunately, Stablecoins traditionally possess unfavorable risk profiles as they compete with their physical counterparts.
Introducing the MARK Token
In order for DeFi to succeed, an immutable, rules-based collateral utility that adapts supply based on liquidity crunches and remains uncorrelated to the broader DeFi sector is necessary. The Benchmark token (MARK) is a supply-elastic, collateral utility. It injects liquidity during periods of high volatility in correlation with global equities markets. This creates a unique, adaptive supply mechanism to optimize value and stability.
To learn more about Benchmark Protocol, the chefs advise you to visit their official communication channels:
Website: https://benchmarkprotocol.finance/
Twitter: https://twitter.com/Benchmark_DeFi
Telegram (English): https://t.me/benchmark_protocol
Medium: https://medium.com/benchmarkprotocol
How do you stake CAKE to earn xMARK rewards?
If you own CAKE tokens, congratulations! You’re the master of your … pancakes.
Time to step up your taste buds by learning how to stake CAKE with Syrup Pool.
- Visit this webpage: https://pancakeswap.finance/syrup
- Click “Approve CAKE” on the xMARK Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 xMARK will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your xMARK tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official xMARK token contract address on Binance Smart Chain is:
https://bscscan.com/token/0x26a5dfab467d4f58fb266648cae769503cec9580
Any other xMARK token will be a scam and will result in a financial loss for users. Do not buy tokens from any other token address. Always verify the token address before purchasing tokens. If you receive airdrops from another address for xMARK tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰
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