Price of Benqi (QI) today
As of the latest data, Benqi (QI) is currently priced at $0.0195 with a market capitalization of $87.69M. The 24-hour trading volume stands at $6.76M, The circulating supply of Benqi is approximately 4.49B. The cryptocurrency has seen a -0.19% decrease in value over the past 24 hours.
About Benqi (QI)
Benqi (QI) is an Algorithmic Liquidity Market Protocol built on Avalanche. It is a decentralized non-custodial liquidity market protocol that allows users to easily lend, borrow, and earn interest with their digital assets. Depositors who provide liquidity to the protocol have the opportunity to earn passive income, while borrowers can borrow in an over-collateralized manner. Benqi aims to provide a seamless experience for users looking to participate in decentralized finance (DeFi) activities on the Avalanche network.
The protocol offers a range of features that cater to both lenders and borrowers in the DeFi space. Users can access the protocol's services through its website and GitHub repository, where they can find more information about how to interact with the platform. Benqi's whitepaper outlines the technical details and vision behind the project, providing a comprehensive overview for those interested in learning more about its inner workings. Additionally, the protocol maintains an active presence on social media platforms such as Twitter, Telegram, and YouTube, where users can stay updated on the latest news and developments.
Overall, Benqi serves as a valuable tool for individuals looking to engage in DeFi activities on the Avalanche network. With its user-friendly interface, passive income opportunities for depositors, and over-collateralized borrowing options for users, Benqi aims to make decentralized finance more accessible and efficient for all participants.
How does Benqi work?
Benqi (QI) operates as a decentralized finance (DeFi) platform that enables users to engage in peer-to-peer transactions without the need for intermediaries. Built on blockchain technology, Benqi utilizes smart contracts to facilitate secure and transparent transactions. The platform employs a proof-of-stake consensus mechanism to validate transactions and maintain the integrity of the network. Benqi offers unique features such as liquidity mining, yield farming, and staking, allowing users to earn rewards by providing liquidity to the platform. Its decentralized nature ensures that users have full control over their funds and can participate in various financial activities without relying on centralized institutions. Benqi's versatile functionalities make it suitable for a wide range of use cases, including lending, borrowing, trading, and asset management, making it a valuable tool for individuals and businesses across different industries seeking to access decentralized financial services.
How to keep your Benqi (QI) safe?
To keep your Benqi (QI) safe, consider using hardware wallets like Ledger which offer enhanced security measures such as offline storage and encryption. Additionally, trusted platforms like Coinbase and Binance provide secure storage options and two-factor authentication to protect your assets from unauthorized access. It is important to regularly update your security settings and avoid sharing your private keys or personal information with anyone to ensure the safety of your Benqi (QI) holdings.
