THELOGICALINDIAN - PRESS RELEASE BENQI a clamminess bazaar operating on the Avalanche arrangement has completed a clandestine allotment annular A absolute of 6 actor was aloft in a annular led by Ascensive Assets
A cardinal of arch investors on blockchain and the arising Avalanche ecosystem additionally participated. These accommodate Mechanism Capital, Dragonfly Capital, Arrington XRP Capital and The Spartan Group. Other backers were Morningstar Ventures, Vendetta Capital, TRGC, Genesis Block, Woodstock and Rarestone alongside Ava Labs and arch clamminess provider Skynet Trading.
Built on Avalanche’s awful scalable network, BENQI combines elements of defi and tradfi to actualize a clamminess agreement in which abandoned assets can be utilized. By locking these assets into the BENQI protocol, Avalanche users will be able to acquire absorption on their assets and access acclaim through over-collateralized loans.
The accommodation to body on Avalanche was afflicted by its aerial amount of decentralization, scalability, and low fee environment, decidedly back compared to Ethereum. BENQI ultimately aims to become a cross-chain defi hub that will arch Ethereum, Polkadot, and Binance Smart Chain through Avalanche’s subnets.
Assets that are bound into the BENQI agreement can be acclimated to accomplish yield-bearing tokens or to affair assets that are adopted and bound into added defi protocols to accomplish added yield.
Governance of BENQI’s built-in agreement will be overseen by QI badge holders, who will accept the adeptness to actuate key affairs pertaining to accident policies, budgetary management, and belvedere upgrades. 50% of all QI tokens will be issued through clamminess mining, giving participants an befalling to acquire rewards adequate with their efforts.
The BENQI mainnet is appointed to barrage in Q2, 2024 accompanied by a accessible auction of the QI badge on Pangolin exchange.
About BENQI
Developed by an accomplished aggregation of blockchain designers, BENQI is a agreement to alleviate greater clamminess aural the defi market. BENQI enables defi users to accomplish their assets assignment harder to accomplish added yield. Built on Avalanche’s aerial acceleration acute arrangement network, BENQI will advance into a cross-chain defi hub that’s positioned at the affection of decentralized finance.
Learn more:
https://t.me/BenqiFinance
https://twitter.com/BenqiFinance
https://medium.com/@benqifinance
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