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FAQ
How does Benqi work?
Benqi is a DeFi platform on Avalanche that allows users to lend, borrow, and earn interest on crypto assets, as well as participate in liquid staking and validator bootstrapping. Users can supply assets to earn rewards or borrow against their holdings, all managed by smart contracts for transparency and efficiency. The platform integrates with Avalanche’s fast, low-cost blockchain for seamless DeFi operations.
Is Benqi a secure platform?
Benqi employs audited smart contracts, transparent on-chain operations, and industry-standard risk management practices to protect user funds. The platform’s code and processes are regularly reviewed to minimize vulnerabilities. Security is further enhanced by Avalanche’s robust blockchain infrastructure and community oversight.
How to use Benqi?
To use Benqi, connect a compatible Avalanche wallet, deposit supported assets for lending or staking, and interact with the protocol’s dashboard to manage your positions. Users can borrow assets, earn interest, or stake AVAX to receive sAVAX, which can be used across other DeFi protocols. The platform also offers tools for validator bootstrapping and governance participation.
What services does Benqi offer?
Benqi offers decentralized lending and borrowing, liquid staking of AVAX (earning sAVAX), validator bootstrapping for Avalanche, and governance participation via QI tokens. Users can earn rewards, participate in network security, and leverage their assets across the Avalanche DeFi ecosystem. The platform is designed to maximize yield and utility for crypto holders on Avalanche.
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