BENQI Price

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

1. BENQI Markets: This component serves as a marketplace where users can supply liquidity in exchange for interest, withdraw their assets, or borrow against over-collateralized positions. By allowing users to interact directly with the market, BENQI mitigates the need for intermediaries, thus streamlining the borrowing and lending process.

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

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