BENQI

Built on the Avalanche blockchain, BENQI is a suite of leading DeFi protocols designed to provide users with a comprehensive set of tools for lending, borrowing, staking, and governance. Operating as a liquidity hub, BENQI has become the #1 application on Avalanche by TVL (Total Value Locked), thanks to its core products that offer deep liquidity and extensive integrations across the DeFi landscape.

BENQI's 4 core products include Liquid Staking, Markets, Ignite, and Node Voting. Liquid Staking allows users to stake AVAX in exchange for sAVAX, a liquid staking token that is widely integrated throughout the Avalanche DeFi ecosystem. This feature enables users to earn staking rewards while maintaining liquidity. BENQI Markets offers lending, borrowing, and earning interest on digital assets within both core and isolated markets. Ignite is a solution that makes it fast and easy to launch and run Avalanche validators and Subnets with minimal upfront capital and no technical complexities. Node Voting is the governance feature whereby holders of BENQI Miles tokens can support specific validators on the Avalanche network.

BENQI's liquid staking pool allocates AVAX to validators on the Avalanche network, using a 35/65 delegation split between the BENQI Miles Pool and the Open Pool. The BENQI Miles Pool is delegated based on community-driven votes, where BENQI Miles holders select specific validators through Node Voting. This feature provides users with a way to influence how AVAX from BENQI's Liquid Staking Pool is delegated to validators. BENQI's tokenomics are designed to provide benefits to users who participate in the protocol, including stakers and lenders.

BENQI has established itself as a leading player in the DeFi space on Avalanche, with a strong focus on providing liquidity and governance tools for users. The protocol's core products have been well-received by the community, and its adoption metrics continue to grow. With a strong development team and a growing user base, BENQI is positioned to remain a major player in the DeFi landscape.

BENQI's token, QI, plays a central role in the protocol's governance and incentivization mechanisms. QI holders can participate in Node Voting, which allows them to influence how AVAX from BENQI's Liquid Staking Pool is delegated to validators. Additionally, QI holders can stake their tokens to earn rewards through Ignite, making it a valuable asset for users who want to participate in the protocol's governance and staking mechanisms.