BENQI is a core DeFi protocol on Avalanche that offers permissionless lending and borrowing through smart contracts. Users can supply assets to earn yield or borrow against over-collateralized positions, all without intermediaries. BENQI focuses on capital efficiency, composability, and deep integration with the Avalanche ecosystem.
BENQI’s liquid staking product lets users stake AVAX and receive sAVAX, a liquid token that continues to earn staking rewards while remaining usable across DeFi. This design removes the tradeoff between securing the network and accessing on-chain liquidity. It also helps decentralize validation by pooling stake efficiently.
The QI token underpins BENQI’s governance and incentive systems, allowing holders to influence protocol upgrades and validator delegation. Through vote-escrow and community mechanisms, BENQI aligns long-term participants with Avalanche’s security and growth. Governance is designed to be active, on-chain, and community-driven.
