BENQI on BNB Chain

Introducing BENQI (QI): A New Arrival on the BNB Chain

Welcome to the detailed profile of BENQI (QI), the latest addition to the BNB Chain. As an exciting new cryptocurrency token, BENQI (QI) was launched with the intent to join the thriving BNB Chain ecosystem.

This token operates on the BNB Chain, an infrastructure that supports the creation and execution of decentralized applications (dApps) and allows users to transact in digital currencies seamlessly and securely.

At NewCoinHub, we provide up-to-date and comprehensive data about BENQI (QI) including its current price, trading volume, liquidity status, and the number of holders. We also supply the official smart contract address, crucial for those interested in further exploration or investment.

Please note that the world of cryptocurrency can be volatile and unpredictable. We encourage all visitors to perform their own due diligence and research when considering investments. For the most accurate and recent data, continue to refer to this page, as we strive to update our information in real-time.

Read on to learn more about BENQI (QI) and find answers to some frequently asked questions.

Token description

## What Is BENQI** **(QI)? BENQI is a suite of leading DeFi protocols built on Avalanche, consisting of 4 core products namely: BENQI Liquid Staking: For staking AVAX in exchange for sAVAX, deployable throughout DeFi while still earning staking rewards. BENQI Markets: For lending borrowing, and earning interest on digital assets within both core and isolated markets. Ignite: For fast and easy deployment of both Avalanche validators and Subnets, catering to institutions, developers, and Web3 users. Node Voting: For receiving AVAX delegations and rewards, if you run an AVAX validator by voting with BENQI Miles. The founding team chose Avalanche because of its decentralized network’s high scalability, low fees and compatibility with popular plugin wallets. BENQI was founded in 2021 with $6 million in backing. Among its strategic investors are Ascensive Assets, Dragonfly Capital, Mechanism Capital, Arrington XRP Capital, Spartan Group, TRGC, Woodstock Fund, Ava Labs, Morningstar Ventures, GBV Capital, Skynet Trading Ltd, Rarestone Capital, Genblock Capital, Moon Inc. Who Are the Founders of BENQI? Rome Blockchain Labs Inc. is responsible for the deployment of BENQI platform. It is an incubator and a software development firm specializing in decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance)). JD Gagnon is one of the co-founders of Rome Blockchain Labs. The two other co-founders are Hannu Kuusi and Alexander Szul. What Makes BENQI (QI) Unique? BENQI (QI) offers DeFi users a one-stop shop to utilise and maximise their assets on BENQI with no hurdles and low network fees. Avalanche allows BENQI users to seamlessly and affordably access decentralized financial services and increase control over their strategies. Developers have the option to use BENQI to create financial products using the protocol and governance tokens. #### Related Pages: Learn more about [Avalanche](https://coinmarketcap.com/alexandria/article/a-dive-into-avalanche). Read about [Compound](https://coinmarketcap.com/currencies/compound/) and [Aave](https://coinmarketcap.com/currencies/aave/). How do smart contracts work? Find out with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-a-smart-contract). What is ERC-20? [Click the link](https://coinmarketcap.com/alexandria/glossary/erc-20) and find out. How Many BENQI** **(QI) Coins Are There in Circulation? The BENQI protocol launched its own QI token on August 19, 2021. The token controls the entire BENQI ecosystem. Only the holders of QI tokens will be able to vote on and participate in the improvement of the network. While the founding team chose to maintain control over governance at the early stages of the platform, their plans include a full-fledged transition to a decentralized autonomous organization ([DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao)). In the future, all token holders will be able to contribute to the development of the project, initiate proposals and vote on issues. The total supply of QI is set at 7,200,000,000 tokens, most of which are planned to be distributed through the liquidity mining program by 2025.