BENQI قیمت

The BENQI crypto may present a promising investment opportunity, particularly for those with faith in the potential of liquid staking and the overall DeFi market. As more users stake their tokens through the BLS protocol, the $QI value could rise.

The subsequent growth in on-chain activity may fuel the demand for QI cryptocurrency, driving an upward trend in the BENQI value. Heightened enthusiasm for DeFi endeavors might further enhance the QI price statistics.

An optimistic outlook in the crypto market may also play a role in elevating the $QI price, as a risk-tolerant mindset could stimulate increased purchasing activity within the market. Conversely, a pessimistic or risk-averse sentiment might lead to sell-offs, potentially putting downward pressure on the QI to USD price.

While it is difficult to predict whether BENQI’s QI token will reach $1 in the future, some key fundamentals can offer insights into this. One of the biggest challenges standing in the way is the high total supply of QI tokens, fixed at 7.2 billion.

As of April 2023, the circulating supply of QI is just over 3.5 billion. If the QI price touches the critical level of $1, it will take the market cap of BENQI to $3.5 billion, an extraordinarily high and unrealistic valuation. If the developers implement token-burning mechanisms or significantly reduce the supply while other fundamentals support the price, we may see the BENQI token price touch the $1 mark.

It is important to note that the cryptocurrency market is highly volatile and subject to various factors, such as supply and demand, market sentiment, and technological developments. Therefore, any BENQI price prediction should be taken cautiously and not considered financial advice.

$QI is the native token of the BENQI ecosystem and has the following use cases:

Governance

$QI is the governance token of the BENQI protocol. It empowers token holders with voting rights to participate in decisions regarding the project’s future evolution.

Collateral

BENQI’s users can lock QI to borrow other cryptocurrencies or stablecoins in a process called "QiFi." Users can borrow up to 80% of their QI collateral value, and the market’s interest rate is determined by supply and demand.

Liquidity Provisioning

As a liquidity provision mechanism, users can stake $QI in liquidity pools to provide liquidity to the BENQI ecosystem and earn rewards in return. The amount of QI staked, and the duration of the stake determines the number of rewards earned.

Crypto Asset to Trade and HODL

Trade BENQI crypto against other digital assets on the KuCoin Spot Market to profit from changing market conditions and volatility. You can buy or sell QI against other crypto assets or hold it long-term if you believe in the future potential of the BENQI protocol.

Remember, however, that digital assets experience high market risks and volatility. It’s best to DYOR before entering new trades in the crypto market to limit your risk exposure.

BENQI Liquid Staking (BLS) supports staked AVAX, which is tokenized and can be freely used within Decentralized Finance (DeFi) applications such as Automated Market Makers (AMMs), Lending & Borrowing Protocols, and Yield Aggregators.

BLS lets users stake AVAX on the Avalanche C-Chain and tokenize the stake to receive sAVAX. The sAVAX tokens can be freely used, swapped, or collateralized as a yield-bearing asset within supported DeFi applications.

Meanwhile, BENQI’s liquidity market BLM supports several other digital assets, including BUSD, BTC, WETH, LINK, USDT, USDC, DAI, QI, and WBTC.

BENQI Finance is funded by several renowned investors from the crypto industry, including Dragonfly Capital, Ava Labs, Morningstar Ventures, Genblock Capital, Ascensive Assets, GBV Capital, and Mechanism Capital.