BENQI is a decentralized non-custodial liquidity market protocol on Avalanche. It scales DeFi with a suite of yield-generating products. The platform offers a Lending and Borrowing Market, with Liquid Staking in development. Users are able to borrow and lend tokens, participate in network governance and staking.
QI is BENQI’s native token with the following functions:
- Governance: QI token holders will be able to participate in the governance of the protocol. Through governance, users have the ability to influence aspects of subsequent products and primitives to be launched under BENQI.
- Liquidity mining: Users can stake in liquidity pools on DEXes (i.e. Pangolin) or in the QI token pool within the BENQI protocol. In return for providing liquidity, users are rewarded with QI and other tokens.
- Staking: Users will be able to stake QI in a Safety Module and get a portion of protocol reserves for securing the protocol against a shortfall event.
BENQI consists of the following major components working in conjunction:
- Lending and Borrowing Market: Enables users to lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol may earn passive income, while borrowers are able to borrow loans by over-collateralizing supported assets on the protocol.
- Liquid Staking: Users will be able to stake their AVAX token on the EVM-compatible Avalanche C-Chain. The protocol also tokenizes staked assets, which enables composability for the staked asset and provides users further opportunities for unlocking of capital to utilize within the DeFi space.
The project has raised a total of $9.93MM USD from 4 rounds of token sales, where 5.93%, 12.07%, 6.10% and 0.90% of the QI total token supply has sold at $0.0030, $0.0055, $0.0075 and $0.0090 USD / QI respectively.
As at November 15th 2021, the total and maximum token supply of QI is 7,200,000,000 and the circulating supply upon listing will be 832,439,274 QI (11.56% of the total token supply).
|Price Change 24h||-$0.05485|
|24h Low / 24h High||$0.1841 / $0.2713|
|24 Hour Trading Vol||$281,973,444.76|
|7d Low / 7d High||
$0.1514 / $0.2713
|30d Low / 30d High||
$0.1013 / $0.2713
|90d Low / 90d High||$0 / $0.4081|
|52 Week Low / 52 Week High||$0 / $0.4081|
|All Time High||$0.4081|
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