What is BENQI (QI)? Changing the Way of Staking AVAX in the Web3 Era

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Bittime  - BENQI is a leading DeFi protocol on Avalanche that allows users to earn AVAX staking yields without losing liquidity. The protocol offers a variety of innovative products and features designed to increase the accessibility and efficiency of AVAX staking .

In the Web3 era, DeFi is becoming increasingly popular as an alternative to traditional financial systems. BENQI is here to provide a more flexible and transparent solution for users who want to get involved in AVAX staking.

What is Benqi (QI)?

BENQI is the leading staking liquidity protocol on Avalanche that allows users to earn AVAX staking yields without losing liquidity. The protocol offers a variety of products and features designed to increase the accessibility and efficiency of AVAX staking.

BENQI (QI) Key Products & Features

• Liquid Staking: Stake AVAX and earn sAVAX which can be used for various DeFi activities, such as lending, borrowing, and yield farming .
• Lending & Borrowing: Access decentralized lending and borrowing markets with various crypto assets as collateral.
• Yield Farming: Earn high yields by staking sAVAX and QI tokens in various pools.
• QiDAO: A decentralized governance platform that allows QI token holders to participate in protocol decision-making.

Also read: What is Terra (LUNA)?

What Are QI Tokens?

QI Token is the native governance token of BENQI. QI token holders have the right to:

• Vote: Participate in governance proposals to determine BENQI's future.
• Stake: Staking QI tokens to earn yield and increase their voting power.
• Earn: Earn protocol fees distributed to QI token holders.

Tokenomic Token QI

• Total Supply: 10,000,000 QI
• Distribution:
  • 40% - Staking rewards
  • 30% - Team and advisors
  • 20% - Liquidity mining
  • 10% - Public sale
• Emissions: 2% per year

Also read:  What is Super Megacycle & Its Impact on Crypto & Bitcoin

BENQI (QI) Fundamental Analysis

• Total Value Locked (TVL): $141.74M (2023-11-16)
• 24 Hour Trading Volume: $3,651,315
• Current Price: $0.016535
• Market Cap: $27.44M

Comparison of BENQI (QI) & Competitors

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Expert Opinion About BENQI (QI)

CoinMarketCap: "BENQI is an innovative project with great potential to revolutionize AVAX staking."

Messari: "BENQI is one of the most active DeFi protocols on Avalanche with a high TVL and a fast-growing community."

The Block: "BENQI is an attractive staking solution for Avalanche users who want to earn yield without losing liquidity."

DeFi Pulse: "BENQI has become one of the fastest growing DeFi protocols on Avalanche, and shows potential to become a market leader in the staking category."

Founder and Team of BENQI (QI) Blockchain

• JD Gagnon: CEO and Co-founder
• Maxime Anceau: CTO and Co-founder
• Tony Xiang: Chief Strategy Officer
• BENQI Team: Consists of 30+ experienced engineers, developers and professionals in the blockchain industry.

Conclusion

BENQI is a leading DeFi protocol on Avalanche that offers a variety of innovative products and features for AVAX staking. This protocol has several advantages over its competitors, including a high TVL, a fast-growing community, and an experienced team. QI token, BENQI's governance token, has the potential to provide significant value to its holders in the future.

However, it is important to remember that investing in crypto assets is always risky. Investors should always do their own research before investing in BENQI or any other crypto asset.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements  for Bitcoin (BTC) ,  Ethereum (ETH ) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates