BENQI Closes $6M Strategic Round to Create Algorithmic Liquidity Market on Avalanche

BENQI has successfully completed a strategic funding round. A total of $6 million was raised, led by Ascensive Assets, and were joined by Arrington XRP Capital, Dragonfly Capital, Mechanism Capital, TRGC, Woodstock Fund, and Spartan Group. Other backers were Ava Labs, Morningstar Ventures, GBV Capital, Moon Inc, Genblock Capital, Rarestone Capital, and leading liquidity provider Skynet Trading.

By having these strategic investors onboard, BENQI will leverage key industry leaders to help navigate the protocol through its initial bootstrapping phase and cross-chain integrations with key projects to help accelerate DeFi activity on Avalanche. Furthermore, the strategic investors were chosen specifically for their network and expertise in Traditional Finance, as BENQI works towards the launch of its subnets.

There will be a BENQI public sale scheduled for April 28th on Tokensoft, accompanied by the mainnet launch in May. Please stay tuned for further information on the registration process and information on the public sale.

Built on Avalanche’s highly scalable network, BENQI’s vision of bridging decentralized finance (DeFi) and institutional networks starts by launching BENQI on the Avalanche C-Chain. Through BENQI, Avalanche users will be able to earn interest on their assets, obtain credit through over-collateralized loans and earn QI governance tokens as rewards for providing liquidity on the protocol and on Pangolin.

--

--

--

BENQI is a decentralized non-custodial liquidity market protocol on Avalanche, enabling users to effortlessly lend, borrow, and earn interest with their assets.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

How Blockchain Works — and How We Can Use It

Should Small and Medium-sized Enterprises Adopt Blockchain?

History of Reward Programs in DeFI

Sportcash One DEX — Decentralized Exchanges

Why I think AAA developers will leave blockchain gaming to the startups in 2022

XP.NETWORK becomes Tezos Corporate Baker

Everything You Need To Know About Concordium — The Compliant Enterprise Blockchain

NEAR Joins ICON’s BTP Ecosystem

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BENQI

BENQI

BENQI is a decentralized non-custodial liquidity market protocol on Avalanche, enabling users to effortlessly lend, borrow, and earn interest with their assets.

More from Medium

MiniPanther + Dark Knight Staking Partnership

Rena Finance Dev Update: 01/15/2022

Frax Finance Weekly Report #12 | February 2022.

mUSD Save Vault on Polygon now Live on Harvest Finance