BENQI launches QI market support
BENQI is thrilled to announce that its platform token, QI, will be supported on the protocol from the 16th of September.
QI is a governance token that will empower holders to enact governance decisions over the BENQI protocol. QI holders can propose and vote on changes to various parameters of the protocol.
This new awaited addition will see updates to the existing LMI-0 rewards to incentivize the utilization of QI within the BENQI protocol. The total emissions will not change.
As part of BENQI’s process of listing new assets, the QI market will be launched in phases, with the lending market going live to begin with, followed by the borrowing market at a later date. The parameters of QI on the protocol can be found in the docs here.
BENQI aims to support more Avalanche native assets via this phased launch approach to enable a healthy and thriving DeFi ecosystem within the network.
Built on Avalanche’s highly scalable network, BENQI aims to bridge decentralized finance (DeFi) and institutional networks by building a suite of DeFi products, starting with a lending protocol. 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. For more information about BENQI, please visit: benqi.fi