Built on the high-speed Avalanche smart contract network, BENQI is a decentralized non-custodial liquidity market as well as a liquid staking mechanism. Users can utilize their digital assets to lend, borrow, or earn interest via the lending protocol. The Liquid Staking protocol offers users the ability to release their "staked" AVAX for usage on Decentralized Financial Protocols, allowing for greater capital efficiency.
BENQI (QI) promises to be the Avalanche platform's first DeFi Lending initiative. It allows DeFi customers on congested and centralized networks to relocate and store their unused assets on BENQI with no restrictions and inexpensive network prices. BENQI customers may utilize Avalanche to access decentralized financial services and get more control over their plans in a simple and cost-effective way. BENQI allows developers to construct financial solutions based on the protocol and governance tokens.
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