BENQI is a Decentralized Finance (DeFi) liquidity market protocol, built on Avalanche.
BENQI Liquid Staked AVAX, sAVAX is the token that users receive when staking their AVAX on BLS. It is the tokenized version of staked AVAX and accrues interest through Avalanche staking rewards.
Users stake AVAX with BENQI, and receive sAVAX, an interest-bearing version of AVAX.