Buy BENQI (QI)
What is BENQI?
BENQI is a decentralised, non-custodial liquidity market and liquid staking protocol built on the Avalanche blockchain. It facilitates users in lending, borrowing, and earning interest using their digital assets.
How does BENQI work?
BENQI works by operating on the Avalanche blockchain, employing a Proof-of-Stake (PoS) consensus mechanism known as Snowman++. It utilises smart contracts to offer its DeFi services, including lending, borrowing, and staking. Notably, BENQI's liquid staking protocol allows users to tokenize staked AVAX into sAVAX, maintaining liquidity while earning staking rewards.
What are the potential use cases for BENQI?
Potential use cases for BENQI include:
- Decentralised Lending and Borrowing: Offers platforms for lending, borrowing, and earning interest within its ecosystem.
- Liquid Staking: Enables users to tokenize staked AVAX, allowing its use within DeFi applications while maintaining liquidity.
- DeFi Ecosystem and Governance: Supports a range of DeFi applications and governance functionalities through its QI token.
- Validator and Subnet Deployment: Provides simplified deployment solutions for validators and subnets with minimal upfront costs.
What is the history of BENQI?
BENQI was founded by JD Gagnon, Hannu Kuusi, and Alexander Szul and launched in March 2021. Initially focused on high-yield savings accounts, it expanded to include decentralized exchange and lending platforms. Over time, BENQI integrated further into the Avalanche ecosystem and introduced liquid staking, evolving its technology and expanding its market presence.
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Frequently Asked Questions (FAQs)
What is the current price of BENQI (QI)?
The BENQI price is $0.02777156 AUD, representing a -5.15% from the day prior.
Where is the best place to buy BENQI (QI) in Australia?
The best place to buy BENQI (QI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell BENQI (QI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of BENQI (QI)?
The trading volume of BENQI (QI) is $5.2M AUD in the last 24hrs, representing a -5.15% from the day prior.
How can I buy BENQI (QI)?
BENQI (QI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of BENQI (QI)?
The current market cap of BENQI (QI) is $141.4M AUD.
Can I convert BENQI (QI) to cash?
Yes - With Coinstash you can convert your BENQI (QI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many BENQI (QI) are there?
The current circulating supply of BENQI (QI) is 5.1B.
Is Coinstash a safe place to buy BENQI (QI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling BENQI (QI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.