What is the total circulation of BENQI (QI) coins?

Key Points:

• Benqi (QI) is a native token of the decentralized finance (DeFi) platform Benqi on Avalanche.
• QI token has a total supply of 10,000,000.
• It has multiple use cases within the Benqi platform, including liquidity mining, governance, and transaction fees.

Benqi (QI) Tokenomics:1. Token Supply:

• Total Supply: 10,000,000 QI
• Issuance Schedule: All tokens were released at the launch of the Benqi platform.

• Distribution:

  • Liquidity Mining (65%): QI tokens are distributed to users who provide liquidity to the Benqi platform.
  • Team and Advisors (20%): Allocated to the Benqi team, advisors, and early investors.
  • Ecosystem Development Fund (10%): Reserved for projects and initiatives that contribute to the Benqi ecosystem.
  • Treasury (5%): Held by the Benqi team for platform development and operations.

2. Token Use Cases:

• Liquidity Mining: QI tokens are used as rewards for users who provide liquidity to the Benqi platform.
• Governance: QI token holders have governance rights and can vote on proposals related to the platform's development and operations.
• Transaction Fees: QI tokens are used to pay for transaction fees on the Benqi platform.
• Collateral: QI tokens can be used as collateral to borrow assets on the Benqi platform.
• Utility Token: QI tokens can be used to access various services and products within the Benqi ecosystem.

3. Factors Affecting QI Token Circulation:

• Liquidity Mining: The number of QI tokens in circulation increases as more users participate in liquidity mining.
• Governance Voting: QI tokens are locked when used for governance voting, reducing the amount in active circulation.
• Transaction Fees: QI tokens are burned when used to pay for transaction fees, reducing the total supply.
• Collateral Usage: QI tokens are locked when used as collateral, reducing the number available for circulation.

4. Token Distribution:

• Liquidity Providers (~1.4 million QI)
• Team and Advisors (~2 million QI)
• Ecosystem Development Fund (~1 million QI)
• Treasury (~0.5 million QI)

FAQs:

Q: What is the current circulating supply of QI tokens?A: The current circulating supply of QI tokens is approximately 3.5 million.

Q: How can I earn QI tokens?A: You can earn QI tokens through liquidity mining, providing liquidity on the Benqi platform.

Q: How can I use my QI tokens?A: You can use your QI tokens for governance, transaction fees, and to access various services and products on the Benqi platform.