BENQI
QI
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About BENQI
QI is the governance token of Benqi, a DeFi protocol on Avalanche. Benqi features liquid staking support using tokenized staked AVAX. Benqi also features a liquidity market that allows users to lend and borrow tokens.
Resources
BENQI (QI) is a decentralized liquidity market and liquid staking protocol that operates on the Avalanche smart contract network. It provides a platform for users to lend, borrow, and potentially earn market yields using their digital assets. Additionally, BENQI aims to enhance capital efficiency by enabling users to unlock their staked AVAX for use on decentralized financial protocols. The protocol was developed by Rome Blockchain Labs Inc., a software development firm with a focus on decentralized finance (DeFi). BENQI was launched in 2021 and has been striving to provide an alternative to Ethereum users that is potentially less expensive and faster.
BENQI operates by providing a platform for users to lend and borrow digital assets. Users can supply liquidity to the shared market and borrow from it using their supplied assets as collateral. The protocol also offers a liquid staking solution that tokenizes staked AVAX, giving users the ability to use, swap, or collateralize the yield-bearing asset within decentralized finance applications. BENQI's interest rate models dynamically adjust the interest rates of each asset market depending on the utilization rate, with the aim of ensuring healthy levels of available liquidity. The protocol also includes a governance mechanism, where QI token holders can vote on proposals affecting the protocol's key parameters.
BENQI aims to provide a platform for users to lend, borrow, and potentially earn market yields with their digital assets. It also seeks to offer a solution for capital efficiency by allowing users to unlock their staked AVAX for use on decentralized financial protocols. Developers can use BENQI to create financial products using the protocol and governance tokens. BENQI also aims to provide an alternative to Ethereum users that is potentially less expensive and faster, with the intention of easing the overloading of the Ethereum network. Furthermore, BENQI's governance mechanism allows QI token holders to participate in the development of the project, initiate proposals, and vote on issues.
BENQI was founded in 2021 by Rome Blockchain Labs Inc., a software development firm with a focus on decentralized finance (DeFi). The founding team includes JD Gagnon, Hannu Kuusi, and Alexander Shul. Prior to Rome Blockchain Labs, Gagnon created the Velox algorithmic trading platform and is also the founder and CEO of Scotch & Ramen Media, Inc. Kuusi has experience building institutional-grade infrastructure for financial technology and military applications, while Shul manages the development of the BENQI liquidity market platform. The protocol launched its own QI token on April 28, 2021, with a total supply set at 7,200,000,000 tokens.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Market
Australia Market Stats
A$136.3M
A$5.5M
4.7B QI
14 days
#489
A$0.50
Australia Market performance
+0.71%
-6.28%
-4.78%
+4.98%
+28.79%
+192.76%
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Social
Some highlights about BENQI on social media
264 unique individuals are talking about BENQI and it is ranked #1,375 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, BENQI has an average sentiment score of 3.1 out of 5. Finally, BENQI is becoming more newsworthy, with 0 news articles published about BENQI. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly neutral about BENQI. There were 25% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about BENQI. 75% of tweets were neutral about BENQI. These sentiments are based on 36 tweets.
On Reddit, BENQI was mentioned in 73 Reddit posts and there were 198 comments about BENQI. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Overview
264 people
16 posts
0.02%
#1,375
3.1 out of 5
36 people
25%
Bullish
75%
Neutral
0%
Bearish
73
198
233
250
BENQI Calculator
How much is 1 QI?
QI/CAD (Canadian Dollar)
CA$0.0265
QI/GBP (British Pound)
£0.0151
QI/BRL (Real)
R$0.10
QI/EUR (Euro)
€0.0178
QI/NGN (Nigerian Naira)
NGN 28.65
QI/SGD (Singapore Dollar)
S$0.0260