The first Liquidity Mining Incentive for BENQI will run for 90 days.
As detailed in our previous post regarding the most appropriate design for deploying liquidity mining incentives, LMI-0 has been constructed to achieve three main goals:
- Bootstrap liquidity and accelerate the growth of the protocol in key metrics such as users, total value locked (TVL), and total borrow
- Act as the control to fine-tune future incentive programs
- Increase the distribution of QI
Please note that the emissions for LMI-0 will be optimized depending on market conditions
This is how the distribution will be split amongst the different pools for the first 90 days:
LMI-0 will run in parallel with the initial round of Avalanche Foundation Liquidity Mining Initiatives, where $3M in $AVAX will be distributed to lenders and borrowers of BENQI. The $AVAX rewards will be distributed in two phases, with $1.5M over the first 45 days, and $1.5M in the subsequent 90 days. The full breakdown for the $AVAX rewards will be communicated shortly before launch.
BENQI is thrilled to be launching on August 19, offering users a high-speed, low-cost money market solution on Avalanche.
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 Pangolin. For more information about BENQI, please visit: benqi.fi