BENQI issues an updated version of the platform

GateUser-f090498e · 2025-04-08T20:39:41+00:00

BENQI is launching a major platform update on April 8, marking a new phase of development. The DeFi protocol on Avalanche includes liquid staking and liquidity market components to enhance staking and lending mechanisms. The QI token serves as both governance and utility token.

GateUser-f090498e

2025-04-08 20:39:41

Abstract generation in progress

BENQI announced a major platform update, scheduled for launch on April 8th. The new version is not just an updated user interface, but also symbolizes the beginning of a new stage in the development of BENQI.

Information about QI

BENQI is a decentralized finance protocol (DeFi) developed on the Avalanche platform. The protocol consists of two main components: BENQI liquid staking (BLS) and the BENQI liquidity market (BLM), both aimed at improving the staking and lending mechanisms in the Avalanche ecosystem.

The mechanism of BENQI includes BLS, which allows users to participate in staking funds through Avalanche validators, and BLM, a lending protocol that enables users to borrow and lend crypto assets. BLM ensures the security of transactions through smart contracts and integration with Chainlink oracles for reliable price data.

The QI token in the BENQI ecosystem serves as both a governance and utility token. As a governance token, QI is used to control changes to the BENQI protocol, including through voting in the BENQI DAO. It also allows users to participate in network governance and to put forward economic proposals and initiatives for the security and development of the protocol.

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