BENQI, a decentralized non-custodial liquidity market protocol, is built on the high-speed Avalanche smart contract network. The protocol allows users to lend, borrow, or earn interest using their digital assets.
What is BENQI (QI)?
The team chose Avalanche for its claimed high scalability, low fees, and compatibility with popular wallets. One of BENQI’s goals is to become a cross-chain hub that connects Ethereum, Polkadot, and Binance Smart Chain (BSC) through Avalanche subnets.
BENQI was established in 2021 with $6 million in funding. Its strategic investors include Ascensive Assets, Dragonfly Capital, Mechanism Capital, Arrington XRP Capital, Spartan Group, TRGC, Woodstock Fund, Ava Labs, Morningstar Ventures, GBV Capital, Skynet Trading Ltd, Rarestone Capital, Genblock Capital, and Moon Inc.
BENQI (QI) claims to be the first DeFi project on the Avalanche platform. It offers DeFi users on congested and centralized networks the option to transfer and deposit their unused assets to BENQI without any barriers and high network fees. Avalanche enables BENQI users to access decentralized financial services smoothly and cost-effectively, enhancing their control over their strategies.
Developers have the option to use BENQI and its transferable income tokens to create financial products.
Furthermore, BENQI aims to ease the congestion on the Ethereum network by offering Ethereum users a cheaper and faster alternative. BENQI members can draw liquidity from the shared liquidity market, borrow from the market, and clearly see interest rates.
The development of BENQI is managed by Rome Blockchain Labs Inc., a specialized incubator and software development firm in decentralized finance (DeFi). JD Gagnon is one of the founding partners and CEOs of Rome Blockchain Labs, with the other two founding partners being Hannu Kuusi and Alexander Shul.
QI Coin Commentary
BENQI, notably using the Avalanche network, has attracted more attention with the listing of its cryptocurrency QI on Binance. Additionally, investors particularly expect BENQI to increase in value in the future due to its targets. We can understand investors’ expectations more clearly by looking at current price movements.
How to Buy BENQI Token?
QI Coin can be purchased quickly and safely through Binance, the world’s largest cryptocurrency trading platform by trading volume. To buy QI Coin, you first need to sign up for Binance and then send fiat money such as dollars. After sending fiat money, you can buy Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), and BUSD and make a purchase transaction in the QI trading pair.
In addition, on Binance, users can place an order to buy at a lower price than the market price. To do this, use the Limit tab and enter the amount and price you want to buy.
