BENQI Price

BENQI (BENQI) is a decentralized finance (DeFi) protocol built on the Avalanche blockchain that offers multiple financial services. It provides a liquid staking solution where users can stake AVAX tokens and receive sAVAX, a yield-bearing asset that can be used across DeFi applications. BENQI also features a liquidity market that enables users to lend, borrow, and earn interest on their crypto assets. Currently ranked #676 with a price of $0.006782, BENQI has seen a +1.2% change in the last 24 hours. The token has a market cap of $47.7M with 7.03B BENQI in circulation out of a total supply of 7.2B BENQI. Users can stake BENQI to receive veQI, which allows them to vote for high-performing Avalanche validators to receive additional AVAX staking delegations.

BENQI was created in December 2019. The cryptocurrency was developed by a team based in Hong Kong with extensive software development experience. BENQI focuses on providing equitable, anonymous, and high-performance transactions in the blockchain ecosystem.

BENQI was founded by Rome Blockchain Labs Inc., a firm focused on decentralized finance software development. The key founders include Dan Mgbor, who leads operations and was previously a Technology Consultant for a multinational IT service and consulting company, and Hansen Niu, who leads strategy. This founding team established BENQI with the vision of building a liquidity market on the Avalanche blockchain.

BENQI operates as a decentralized liquidity market protocol on the Avalanche blockchain. Users can deposit crypto assets to earn interest or borrow against their holdings. The protocol uses smart contracts to automate lending and borrowing processes, with interest rates determined by supply and demand algorithms. BENQI token holders can participate in governance decisions and earn rewards through staking. The protocol features no deposit limits and allows users to withdraw their assets at any time. BENQI also integrates with other DeFi protocols in the Avalanche ecosystem, enabling users to maximize their yield opportunities through various strategies like yield farming and liquidity mining.

BENQI operates on a sophisticated algorithmic liquidity market protocol built on the Avalanche blockchain. The technical architecture consists of: 1. Decentralized lending protocol: Enables quick lending services through smart contracts 2. Liquidity pools: Users can stake assets in various pools to provide liquidity 3. Governance mechanism: The BENQI token serves as the governance token for the entire ecosystem 4. Treasury management: The protocol includes a treasury system controlled by governance 5. Scalable infrastructure: Built on Avalanche for high throughput and low latency 6. Smart contract integration: Allows for seamless interaction with other DeFi protocols This architecture enables BENQI to provide efficient lending services while maintaining decentralization and security. The protocol's design focuses on accessibility for both experienced DeFi users and newcomers to the ecosystem.

BENQI has a promising future with a comprehensive roadmap focused on DeFi expansion. The team plans to enhance their liquidity protocol on Avalanche, introduce new lending markets, and implement advanced risk management features by 2025-2026. Their roadmap includes cross-chain integration, governance improvements, and partnerships with major blockchain projects. By 2027, BENQI aims to become a leading DeFi platform with expanded yield optimization strategies and institutional-grade services. The protocol's current price of $0.006782 shows +1.2% change in the last 24 hours, with market analysts projecting growth to $0.033-$0.040 by the end of 2025. The development team continues to prioritize security, scalability, and user experience while building toward their vision of accessible decentralized finance.