BENQI Price

At its essence, BENQI is a non-custodial liquidity market protocol that enables users to optimise their digital assets. It functions on three key components that create an interconnected ecosystem for lending, borrowing, and liquid staking:

1. BENQI Markets: This component acts as a marketplace where users can supply liquidity in exchange for interest, withdraw their assets, or borrow against over-collateralized positions. By facilitating direct interaction between users and the market, BENQI reduces the need for intermediaries, thus simplifying the borrowing and lending process.

2. BENQI Liquid Staking: Offering a novel approach to staking, this feature allows users to tokenise their staked AVAX. Consequently, stakers can leverage their yield-bearing assets by employing them across other DeFi applications, thereby enhancing their liquidity.

3. Ignite: Designed to bolster the Avalanche ecosystem, Ignite empowers users to bootstrap validators and subnets with minimal upfront investment. This protocol not only helps in scaling the network but also provides opportunities for builders to launch custom blockchains.