BENQI is a decentralized non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol may earn passive income, while borrowers are able to borrow in an over-collateralized manner.
BENQI aims to alleviate these problems by providing a suite of DeFi products on a highly scalable and decentralized platform. With a focus on approachability, ease of use, and low fees, BENQI aims to democratize access to decentralized financial products by providing users access to:
Permissionless lending and borrowing (via BLM) where DeFi users can: Instantly supply to and withdraw liquidity from a shared liquidity market; Instantly borrow from a liquidity market using their supplied assets as collateral; Have a live and transparent view of interest rates around the clock based on the asset's market supply and demand;
Capital efficient staking product (via BLS) where Avalanche users can: Freely utilize locked up capital staked in validators in securing the Avalanche network; Gain additional utility on their yield-generating asset by utilizing it within Decentralized Finance; Seamlessly stake their AVAX on the Avalanche Contract Chain (C-Chain) with no lock-up periods or tedious cross-chain transfers.
