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BENQI

QI

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About BENQI

QI is the governance token of Benqi, a DeFi protocol on Avalanche. Benqi features liquid staking support using tokenized staked AVAX. Benqi also features a liquidity market that allows users to lend and borrow tokens.

BENQI (QI) is a decentralized liquidity market and liquid staking protocol that operates on the Avalanche smart contract network. It provides a platform for users to lend, borrow, and potentially earn market yields using their digital assets. Additionally, BENQI aims to enhance capital efficiency by enabling users to unlock their staked AVAX for use on decentralized financial protocols. The protocol was developed by Rome Blockchain Labs Inc., a software development firm with a focus on decentralized finance (DeFi). BENQI was launched in 2021 and has been striving to provide an alternative to Ethereum users that is potentially less expensive and faster.

BENQI operates by providing a platform for users to lend and borrow digital assets. Users can supply liquidity to the shared market and borrow from it using their supplied assets as collateral. The protocol also offers a liquid staking solution that tokenizes staked AVAX, giving users the ability to use, swap, or collateralize the yield-bearing asset within decentralized finance applications. BENQI's interest rate models dynamically adjust the interest rates of each asset market depending on the utilization rate, with the aim of ensuring healthy levels of available liquidity. The protocol also includes a governance mechanism, where QI token holders can vote on proposals affecting the protocol's key parameters.

BENQI aims to provide a platform for users to lend, borrow, and potentially earn market yields with their digital assets. It also seeks to offer a solution for capital efficiency by allowing users to unlock their staked AVAX for use on decentralized financial protocols. Developers can use BENQI to create financial products using the protocol and governance tokens. BENQI also aims to provide an alternative to Ethereum users that is potentially less expensive and faster, with the intention of easing the overloading of the Ethereum network. Furthermore, BENQI's governance mechanism allows QI token holders to participate in the development of the project, initiate proposals, and vote on issues.

BENQI was founded in 2021 by Rome Blockchain Labs Inc., a software development firm with a focus on decentralized finance (DeFi). The founding team includes JD Gagnon, Hannu Kuusi, and Alexander Shul. Prior to Rome Blockchain Labs, Gagnon created the Velox algorithmic trading platform and is also the founder and CEO of Scotch & Ramen Media, Inc. Kuusi has experience building institutional-grade infrastructure for financial technology and military applications, while Shul manages the development of the BENQI liquidity market platform. The protocol launched its own QI token on April 28, 2021, with a total supply set at 7,200,000,000 tokens.

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Market

Market stats

Market cap

$67.3M

Volume (24h)

$1.9M

Circulating supply

4.9B QI

Typical hold time

16 days

Popularity

#474

All time high

$0.33

Market performance

Price change (1h)

-0.15%

Price change (1d)

+1.53%

Price change (1w)

-0.58%

Price change (2w)

-14.31%

Price change (1m)

-8.6%

Price change (1y)

+177.38%

Market benchmarks

Performance (1Y)

+182.29%

Vs. Market (1Y)

+35.64%

Vs. BTC (1Y)

+20.58%

Vs. ETH (1Y)

+77.94%

Social

Some highlights about BENQI on social media

276 unique individuals are talking about BENQI and it is ranked #1,051 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, BENQI has an average sentiment score of 3.3 out of 5. Finally, BENQI is becoming more newsworthy, with 0 news articles published about BENQI. This is a 0% increase in news volume compared to yesterday.

On Twitter, people are mostly bullish about BENQI. There were 54.9% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about BENQI. 45.1% of tweets were neutral about BENQI. These sentiments are based on 51 tweets.

On Reddit, BENQI was mentioned in 1 Reddit posts and there were 3 comments about BENQI. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

276 people

Posts

30 posts

Dominance

0.02%

Volume rank

#1,051

Average Sentiment

3.3 out of 5

Twitter

Coinbase Bytes

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BENQI is on the decline this week.

The price of BENQI has decreased by 0.15% in the last hour and increased by 1.53% in the past 24 hours. BENQI’s price has also fallen by 0.58% in the past week. The current price is $0.0137 per QI with a 24-hour trading volume of $1.85M. Currently, BENQI is valued at 95.83% below its all time high of $0.33. This all-time high was the highest price paid for BENQI since its launch.

The current circulating supply of BENQI is 4,921,484,760 QI which means that BENQI has as total market cap of 4,921,484,760.

FAQ

What is the current price of BENQI?

We update our BENQI to USD currency in real-time. Get the live price of BENQI on Coinbase.

What is the market cap of BENQI?

The current market cap of BENQI is $67.27M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of BENQI?

The all-time high of BENQI is $0.33. This all-time high is highest price paid for BENQI since it was launched.

What is the 24 hour trading volume of BENQI?

Over the last 24 hours, the trading volume of BENQI is $1.85M.

What other assets are similar to BENQI?

Assets that have a similar market cap to BENQI include Highstreet, Humanscape, MAP Protocol, and many others. To see a full list, see our comparable market cap assets.

How many BENQI are there?

The current circulating supply of BENQI is 4.9 billion.

What is the typical holding time of BENQI?

The median time that Coinbase customers hold BENQI before selling it or sending it to another account or address is 16 days.

What is the relative popularity of BENQI?

BENQI ranks 186 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of BENQI?

Currently, 67% of Coinbase users are buying BENQI. In other words, 67% of Coinbase customers have increased their net position in BENQI over the past 24 hours through trading.

Can I buy BENQI on Coinbase?

Yes, BENQI is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy BENQI guide.