BENQI update: QI Live price, price chart, news and markets

The QI price update as of now is $0.003858. In the previous 24 hours, its trading volume was $881,792, and its value has decreased by -0.76%. As of now, QI's live market cap is $27,776,245, and it is ranked as the #598 on the Coincu. QI has a circulating supply of 7,200,000,000 and a maximum supply of 7,200,000,000.

Introducing BenQi: A Decentralized Non-Custodial Liquidity Market Platform

BenQi, also known as QI, is a revolutionary platform that operates on the Avalanche network. It is specifically designed for lending and borrowing purposes, aiming to provide decentralized non-custodial liquidity solutions.

The Participants: Lenders and Borrowers

Within the BenQi ecosystem, two main participants interact: lenders and borrowers. Each group plays a crucial role in the platform's functioning and benefits from its unique features.

• Lenders: By depositing their assets on the BenQi platform, lenders can earn interest by providing liquidity to the market.
• Borrowers: Individuals who require crypto assets have the option to borrow on the BenQi platform. They can collateralize their existing assets to access the desired funds.

Unlocking the Key Features of BenQi

BenQi plays a pivotal role in the growth of the AVAX ecosystem. It offers a range of compelling features that enhance liquidity and contribute to the overall performance of the platform.

Lending and Borrowing Functionality: As previously mentioned, BenQi ensures a significant inflow of liquidity into the ecosystem. This functionality contributes to the platform's stability and promotes its sustainability within the AVAX system.

Notable Investment: BenQi has received a substantial $6 million investment from various funds, including Ava Labs. This investment is a testament to the project's importance and potential impact within the ecosystem.

Backed by Ava Labs: With the support of Ava Labs, BenQi is poised to become a prominent platform similar to Compound on Ethereum. This backing further strengthens its position in providing efficient lending and borrowing solutions.