Decentralized Finance (DeFi) Protocol: Built on the Avalanche blockchain , Benqi offers DeFi functionalities like lending, borrowing, and staking .
Suite of Products: Benqi consists of three main products:
BENQI Markets: Enables users to lend, borrow, and earn interest on various crypto assets .
BENQI Liquid Staking: Allows users to stake their AVAX (Avalanche's native token) and earn rewards while maintaining liquidity https://benqi.fi/.
Ignite: Provides tools for running Avalanche validators or subnets .
Key Features:
Permissionless: Anyone can participate in Benqi's DeFi services without needing permission .
Earning Potential: Lenders can earn interest by supplying assets, while borrowers can leverage their holdings.
Liquid Staking: Unlocks the utility of staked AVAX for further DeFi activities .
Security: Emphasizes security through features like smart contracts .
Current Status:
Live Platform: Benqi is a functioning DeFi protocol with a user base and tradable token (QI) .
Market Performance: The price of the QI token and Total Value Locked (TVL) in the protocol can fluctuate .
Further Exploration:
Official Website: Learn more about Benqi, its features, and documentation on their website:
CoinMarketCap: Track the live price and market performance of the QI token:
DappRadar: Explore Benqi's usage statistics and TVL.
Remember: DeFi involves inherent risks. It's crucial to conduct your own research before using Benqi or any DeFi platform.
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