BENQI is Launching a Platform Overhaul on April 8th

BENQI is set to launch a significant platform overhaul on April 8th. Described as more than just a new user interface, this transformation marks the beginning of an entirely new phase for BENQI.

Benqi, the decentralized finance protocol built on Avalanche, is set to unveil a major platform overhaul on April 8th.

Benqi’s transformation, described as more than just a new user interface, marks the beginning of an entirely new phase for the protocol.

Benqi provides a liquid staking solution for Avalanche with Benqi Liquid Staking (BLS) and a lending and borrowing environment for crypto-assets with Benqi Liquidity Market (BLM). BLS allows users to easily stake Avalanche and earn yield on their staked capital, while BLM, a DeFi protocol, enables lending and borrowing through smart contracts.

BLS enables users to stake with Avalanche validators and use the staked assets without any lock-up periods. BLM operates as a lending and borrowing protocol on the Avalanche network, allowing users to lend, borrow, and earn interest on their crypto assets. The protocol is fully automated through smart contracts, which calculate yields algorithmically based on supply and demand and enable over-collateralized borrowing.

QI, the native token of Benqi, serves dual roles as a governance and utility token. It is essential for managing and voting on proposals within the Benqi DAO to influence the protocol’s direction, including economic policies, security upgrades, and further development. Additionally, QI allows for staking, earning delegation rewards, and provides enhanced functionality within the Benqi ecosystem.