BENQI QI
$0.01562 6.63%
Latest Updates
Updated at 02:31$70,239,261.29
#521
$6,231,332.42 0.26%
-$0.00104 6.63%
-$0.00165 10.56%
What about BENQI?
BENQI (QI) is a decentralized liquidity market protocol built on Avalanche. It offers a non-custodial platform for users to earn interest on their cryptocurrency holdings, without the need for intermediaries.
Unlike traditional finance systems, BENQI operates on a peer-to-peer basis, enabling users to lend and borrow cryptocurrency directly from each other. This approach eliminates the need for banks, brokers, and other middlemen, resulting in lower fees and greater transparency.
BENQI is powered by a unique algorithm that determines interest rates based on supply and demand for each cryptocurrency asset. This ensures that users receive competitive interest rates that reflect the market conditions at the time.
In addition to earning interest on their cryptocurrency holdings, BENQI users can also borrow funds to trade or invest in other assets. The platform offers instant and seamless borrowing options, with no credit checks or collateral required. This makes it an attractive option for traders and investors looking to access liquidity quickly and easily.
BENQI is also highly secure, with all transactions on the platform protected by advanced encryption and security protocols. Users can be confident that their funds are safe and secure at all times.
QI is the native token of BENQI, serving multiple functions. Firstly, QI holders can participate in the governance of the protocol and have a say in future products and primitives. Secondly, users can stake QI in liquidity pools or within the BENQI protocol and receive rewards in QI and other tokens. Finally, QI can be staked in a Safety Module to secure the protocol and receive a portion of protocol reserves.
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