BENQI is a decentralized non-custodial liquidity market protocol built on the high-speed Avalanche smart contract network. The protocol allows users to lend, borrow, or earn interest using their digital assets.
The team chose Avalanche because of its decentralized network’s claimed high scalability, low fees and compatibility with popular plugin wallets. One of the goals of BENQI is to become a cross-chain hub, connecting Ethereum, Polkadot and Binance Smart Chain (BSC) through the Avalanche subnets.
BENQI was founded in 2021 with $6 million in backing. Among its strategic investors are 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, Moon Inc.
BENQi, the first and largest algorithmic liquidity market protocol on Avalanche, is delighted to announce the appointment of Luke Youngblood as a strategic advisor.
BENQI and the Avalanche Foundation are collaborating on a joint liquidity mining program to celebrate the launch of the BENQI protocol on the 19th of August and the next phase of growth within Avalanche’s DeFi ecosystem.
