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.
About BENQI
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
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