USDC market launching on BENQI
We are excited to be launching the much awaited USDC.e market on the BENQI protocol. The pool will go live on Aug 30 and users will be able to supply, borrow and earn liquidity mining incentives in both QI and AVAX.
BENQI will extend its Liquidity Mining Initiative towards all users who utilize the USDC.e pools, which includes supplying and borrowing.
Fig 1: Adjusted LMI-0 initiative
The adjusted Liquidity Mining program will go on for the same duration as LMI-0 without changing the total emission rates as per the table above.
USDC.e will be able to be used as collateral, with a collateral factor of 60%.
We would also like to take this opportunity to thank the community for the overwhelming support shown during the past week.
At the time of writing, a total of $1.9 billion has been supplied and $760 thousand borrowed from the protocol, with the $1 billion milestone crossed 4 days after launch.
As of 28/08/2021, AVAX deposits are currently earning 11.45% APY, WBTC earning 5.45%, WETH earning 3.45%, LINK earning 10.06%, and USDT earning 16.58% on https://app.benq.fi.
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