What is the issuance price and issuance volume of BENQI(QI) coins?

BENQI (QI) tokens debuted at $0.05 each in an initial DEX offering (IDO) with an issuance volume of 200 million.

Dec 23, 2024 at 03:19 pm

Key Points:

• BENQI (QI) is a decentralized lending and borrowing protocol built on the Avalanche blockchain.
• The QI token is the governance token of the BENQI protocol.
• The issuance price of QI tokens was $0.05 during the initial DEX offering (IDO).
• The issuance volume of QI tokens was 200 million.

Issuance Price and Issuance Volume of BENQI (QI) Coins

1. BENQI (QI) Token: Overview

BENQI (QI) is a decentralized lending and borrowing protocol built on the Avalanche blockchain. The protocol allows users to lend and borrow crypto assets in a permissionless and non-custodial manner. QI is the native token of the BENQI protocol and is used for governance, staking, and as a medium of exchange within the ecosystem.

2. Issuance Price and Volume

The issuance price of QI tokens during the initial DEX offering (IDO) was $0.05. The IDO was conducted on February 25, 2021, and raised a total of $6 million. The issuance volume of QI tokens was 200 million, with 50% of the tokens allocated to the liquidity pool, 30% to the community, 10% to the team, and 10% to advisors and investors.

3. Token Distribution

• Liquidity Pool: 50% (100 million QI)
• Community: 30% (60 million QI)
• Team: 10% (20 million QI)
• Advisors and Investors: 10% (20 million QI)

4. Token Use Cases

• Governance: QI token holders can vote on governance proposals to shape the future of the BENQI protocol.
• Staking: QI tokens can be staked to earn rewards and support the security of the protocol.
• Medium of Exchange: QI tokens can be used as a medium of exchange within the BENQI ecosystem, including for paying borrowing fees and earning rewards.

5. Value Proposition

The BENQI protocol offers several key advantages:

• Decentralized: The protocol is controlled by the community through on-chain governance.
• Non-custodial: Users maintain custody of their assets at all times.
• High Interest Rates: Lenders can earn attractive interest rates on their crypto assets.
• Low Borrowing Rates: Borrowers can access liquidity at competitive interest rates.

FAQs:

• What is the maximum supply of QI tokens?

  • There is no maximum supply of QI tokens.

• Where can I buy QI tokens?

  • QI tokens can be purchased on decentralized exchanges (DEXs) such as SushiSwap and Pangolin.

• What is the current price of QI tokens?

  • The current price of QI tokens can be tracked on cryptocurrency price tracking websites such as CoinGecko and CoinMarketCap.

• Can I stake QI tokens?

  • Yes, QI tokens can be staked to earn rewards and support the security of the protocol.

• Can I borrow crypto assets on the BENQI protocol?

  • Yes, you can borrow crypto assets on the BENQI protocol by providing collateral.