Monday, 18 December 2023 07:50 AM
Product Announcements
SINGAPORE, SINGAPORE / ACCESSWIRE / December 18, 2023 / BENQI, the leading lending and staking protocol with the highest TVL on Avalanche has reached over $530 million in TVL. The QI token surged to a high of $0.0374, growing more than 450% this year, reaching a market cap of over $105.2 million.
The BENQI Protocol provides innovative liquidity and staking solutions enabling users to supply and borrow different assets and stake $AVAX to receive $AVAX and $QI rewards. Earlier this month BENQI also introduced Ignite protocol designed to bootstrap Avalanche validators and Subnets.
BENQI also has expanded its presence in the DeFi space through strategic integrations, including the integration of dappOS V2. This has bolstered BENQI's market position and extended its reach and accessibility to a wider audience in the DeFi offering users seamless access to BENQI from any other chain without manually bridging and superior $QI and $AVAX rewards when lending or recursive staking.
According to the latest data on Dec 12, 4,848 new users have interacted with BENQI via dappOS V2 and completed 28,571 transactions within 2 months of the integration. These new users have supplied over $12,877,782 in assets to BENQI via dappOS V2, with USDT and USDC supplied accounting for 18.17% and 16.62% of the total BENQI supply. Assets borrowed by dappOS V2 users reached 7,199,765 with WBTC and WETH borrowed via dappOS V2 making up 80.57% and 45.75% of the total BENQI borrow.
Media Contact:-
Name: Dex
TG ID: https://t.me/dx23674
Company name: Benqi
Email: [email protected]
SOURCE: BENQI