BENQI
Current price
$0.0026
−0.88%24h
LiveUpdated 49s ago
TodayBENQI slips 0.9%, outpacing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour+1.25%
- 24 hours−0.88%
- 7 days−12.34%
- 30 days+106.35%
- 1 year−55.56%
BENQI's move in context
Beating the market today
−0.88% today against −3.26% for the market as a whole, a gap of 2.4 points. Small gaps like this are common, so they don't point to anything specific.
Trend has turned
−12.3% over 7 days and +106.3% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About BENQI
Overview
BENQI is a decentralized liquidity market protocol built on the Avalanche blockchain; it enables users to lend and borrow a diverse array of assets in a secure and efficient manner. Its core mission is to provide a seamless and transparent platform for decentralized finance (DeFi) that empowers users through higher capital efficiency and improved yield opportunities. BENQI distinguishes itself from other DeFi platforms by offering features such as over-collateralized lending, dynamic interest rate models, and integration with Avalanche’s high-speed and low-cost transactions. This combination allows users to maximize returns while minimizing obstacles typically associated with traditional finance systems.
Technical Features
BENQI employs an innovative algorithm that utilizes a variant of the Automated Market Maker (AMM) model combined with a liquidity pool mechanism. Its consensus mechanism is rooted in the Avalanche consensus protocol, which ensures quick transaction finality and robust security against various attack vectors. The network architecture of BENQI consists of a series of smart contracts that govern the lending and borrowing operations, as well as the interest rate calculations which are determined by market supply and demand dynamics. This technical framework enables BENQI to offer a highly secure and efficient platform for its users while maintaining low transaction costs.
Use Cases
BENQI serves multiple use cases within the DeFi ecosystem. Primarily, it acts as a lending and borrowing platform, allowing users to earn interest on their crypto assets or take out loans against their collateral. This functionality is particularly beneficial for users looking to leverage their holdings without liquidating them. Additionally, BENQI supports liquidity provision, enabling users to deposit assets into liquidity pools to earn yields. The governance aspect of BENQI allows token holders to influence protocol decisions by voting on significant changes or upgrades. Furthermore, BENQI can facilitate cross-border payments by leveraging its low transaction fees, making it a compelling choice for international transactions.
Development Background
Launched in 2021, BENQI was developed by a team of experienced professionals in the blockchain and finance sectors. The project aimed to address the inefficiencies present in existing DeFi platforms, particularly in terms of speed and cost. BENQI gained considerable traction rapidly and became one of the prominent projects within the Avalanche ecosystem. Key contributors include both founding members and advisors who have been instrumental in securing partnerships and funding to enhance the project's growth. Notable events include significant liquidity mining campaigns and collaborations with other DeFi projects, which have further cemented BENQI's presence in the market.
Community and Ecosystem
The BENQI ecosystem is characterized by a vibrant and active community that contributes to its ongoing development. Users, developers, and investors form an integral part of the ecosystem, participating in governance and enhancing the platform's features through feedback and collaboration. BENQI has established partnerships with various projects in the DeFi space, fostering a broader ecosystem that promotes interoperability and innovation. Various applications built around the BENQI protocol extend its functionalities, resulting in an enriched user experience that integrates seamlessly with other platforms and services within the Avalanche network.
Future Potential
Looking ahead, BENQI has significant potential to impact the cryptocurrency landscape with its robust technology and diverse use cases. Ongoing developments focus on expanding the range of supported assets, enhancing user experience through improved interfaces, and introducing advanced features such as flash loans and additional liquidity incentives. The project's roadmap indicates a commitment to continuous improvement and adaptation to market changes, positioning BENQI as a key player within the DeFi ecosystem. As the adoption of decentralized finance continues to grow, BENQI is poised to capitalize on new opportunities, making it an exciting project to watch in the coming years.
BENQI market
- Position by market cap among the coins we track.
- #329
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $18.72M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.002519High $0.002705
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $0.3942
- Now 1% of itReached 24 Aug 2021 · Needs +15,060% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 7.2B QI
- 100% of max
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- 7.2B QI
- The most coins that can ever exist. Some coins have no limit.
BENQI converter
1 BENQI = $0.0026
