Benchmark Protocol Whitelists Impossible Finance in Advance of the P2P Marketplace Launch
Benchmark Protocol is thrilled to announce that the Impossible Finance token (IF, BEP-20) of Impossible Finance will be whitelisted on the upcoming Benchmark Protocol P2P Marketplace. There is great synergy between Benchmark Protocol and Impossible Finance as both platforms are aligned on taking a multi-chain approach to DeFi. Impossible Finance has recently completed a successful $7 million seed funding round backed by some of the top institutional and angel investors in the space. Initially launched on BSC, Impossible Finance is focusing on developing a multi-chain DeFi incubator. Currently, Impossible Finance offers users in-house token swaps, liquidity pools, and staking rewards through the Impossible Finance (IF) token. Impossible Finance plans to expand to Ethereum, Polygon, and other L2 platforms in the future.
The P2P Benchmark Protocol Marketplace will facilitate a lender-driven exchange for IF based loan offerings. The Marketplace has passed a series of thorough smart contract audits and is on track to launch in late August. Upon launch, the Impossible Finance community will be able to diversify their yield farming strategy by loaning out their IF on the Marketplace. Terms will be fully customizable and all P2P interactions are fully permissionless. We are looking forward to tapping into the rapidly growing multi-chain DeFi ecosystem to leverage the influx of capital that will naturally gravitate towards decentralized yield opportunities.
The IF token is the Impossible Finance governance token. Token holders influence the future of Impossible Finance by utilizing their tokens for voting power. It also provides token holders with fee rebates on all swaps done through the Impossible platform. IF tokens are currently available directly at Impossible Finance. Popular liquidity pool pairs within the Impossible Finance ecosystem are IF-BNB and IF-BUSD. In the upcoming V3 launch of Impossible Finance, LP tokens can be staked to earn more IF tokens. Impossible is also developing an in-house AMM liquidity protocol which will serve as the foundation for select incubated DeFi projects. The AMM will also launch the upcoming Impossible Decentralized Incubator Access (IDIA) token. The entire Impossible Finance ecosystem is layered in security checks, composable code, smart contract audits, and bug bounty programs to ensure safety.
About Impossible Finance
An incubator, launchpad, and trading platform for multichain projects, Impossible Finance enables top-tier blockchain projects to engage the right audience. Get access to top projects’ IDOs across many sectors such as DeFi, DEXes, NFTs, and infrastructure via the Impossible Launchpad. No more jumping through endless hoops to get tiny allocations. Impossible Finance believes in a fair sale and equal rights for all users, big or small. Users enjoy a fluid, hassle-free fully decentralized token sale experience — from identity verification onwards. Impossible Finance makes DeFi more accessible and inclusive by prioritizing low fees and gas-efficient smart contracts in the technical architecture design.
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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.
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