Avalanche has been one of the most liked and followed projects in the cryptocurrency world since 2020, and projects built on the Avalanche network are frequently mentioned. What is QI Coin, the native token of one of these projects, Benqi Finance?
What is QI coin?
QI Coin is the native token of the BENQI platform built on the Avalanche blockchain network. BENQI is a decentralized financial platform where users can lend, borrow and earn interest using their digital assets. The QI token is used in BENQI’s liquidity markets and liquid staking protocol:
- Benki Market: Here, users can provide liquidity and earn interest by depositing their cryptocurrencies into the platform. They can also borrow against other assets using their assets as collateral.
- Benkei Liquid Staking: This enables tokenization of AVAX staked on Avalanche. It allows users to use their staked AVAX in DeFi applications.
BENQI is a decentralized finance platform running on the Avalanche Network. The platform allows users to easily borrow, borrow and earn interest on their digital assets. BENQI’s liquidity provision and liquid staking solution allow users to use their “stake” AVAX in the DeFi protocol.
BENQI chose Avalanche Network because of its low transaction fees and high scalability.
What is the BenQI project?
BENQI provides two main services to users: BENQI Markets and BENQI Liquid Staking. BENQI Markets allows users to earn interest on their digital assets, lend money, and borrow money using their receipts as collateral.
BENQI Liquid Stake, on the other hand, tokenizes stakes of AVAX, allowing users to mine this asset in DeFi applications, exchange it, or use it as collateral.
Who are the founders and owners of QI?
BENQI, Rome Blockchain Labs Inc. developed by. Founded by JD Gagnon, Hannu Kuusi and Alexander Szul, BENQI focuses on DeFi applications and liquidity solutions. JD Gagnon is the project’s CEO, and Hannu Kuusi and Alexander Szul have played key roles in the project’s technology and operational development.
What does Benkei do?
BENQI is the first DeFi lending project on the Avalanche platform. This dense and decentralized network provides DeFi users with the opportunity to transfer and use their assets to BENQI with low network fees. BENQI aims to reduce the load on the Ethereum network and provide users with a faster and cheaper option. Users get the benefit of withdrawing liquidity, borrowing money and getting clear information about interest rates through BENQI.
What was the highest QI?
QI coin reached an all-time high of $0.4081 on August 24, 2021.
What was the lowest point in QI?
There is no data on the lowest price of QI coin recorded in the market.
How much supply of QI?
The total and maximum supply of QI coin is 7,200,000,000 QI.
It was published: