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When will BENQI(QI) coins be issued?
QI coins are not issued like traditional ICOs, but are continuously minted and distributed to participants in the BENQI protocol's borrowing, lending, staking, and liquidity provision activities.
Dec 23, 2024 at 10:54 am
Key Points:
- BENQI (QI) is a decentralized lending and borrowing protocol that provides users with access to low-interest loans and high-yield savings accounts.
- The QI token is the native token of the BENQI protocol and is used for governance, staking, and earning rewards.
- There is no specific issuance date for QI coins, as they are continuously minted and distributed to users who participate in the BENQI protocol.
When Will BENQI (QI) Coins Be Issued?
QI coins are not issued in the traditional sense of an initial coin offering (ICO) or other token distribution event. Instead, QI coins are minted and distributed to users who participate in the BENQI protocol. The rate at which QI coins are minted and distributed is determined by the protocol's smart contracts.
There are several ways to earn QI coins through the BENQI protocol:
- Borrowing and lending: Users who borrow or lend assets on the BENQI protocol earn QI coins as a reward. The amount of QI coins earned is proportional to the amount of assets borrowed or lent.
- Staking QI coins: Users who stake QI coins on the BENQI protocol earn additional QI coins as a reward. The amount of QI coins earned is proportional to the amount of QI coins staked.
- Providing liquidity to the QI/AVAX pool on SushiSwap: Users who provide liquidity to the QI/AVAX pool on SushiSwap earn QI coins as a reward. The amount of QI coins earned is proportional to the amount of liquidity provided.
The issuance of QI coins is an ongoing process that is determined by the participation of users in the BENQI protocol. There is no set schedule for the issuance of QI coins, and the supply of QI coins will continue to grow as long as the protocol is in operation.
FAQs:
- When will I receive my QI coins? You will receive your QI coins as soon as you participate in the BENQI protocol by borrowing, lending, staking QI coins, or providing liquidity to the QI/AVAX pool on SushiSwap.
- How much QI will I earn? The amount of QI you earn will depend on the amount of assets you borrow or lend, the amount of QI you stake, or the amount of liquidity you provide to the QI/AVAX pool on SushiSwap.
- What can I do with my QI coins? You can use your QI coins for governance, staking, or earning rewards.
- How can I learn more about BENQI? You can learn more about BENQI by visiting the project's website or reading the whitepaper.
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