BENQI Coin, the native cryptocurrency of the BENQI protocol, is making waves on the Avalanche network, a blockchain known for its high-speed smart contract capabilities. This decentralized liquidity market protocol allows users to lend, borrow, and earn interest on their digital assets. Avalanche’s high scalability, low fees, and compatibility with popular plugin wallets have made it the ideal foundation for BENQI.
How Does BENQI Aim to Connect Blockchains?
BENQI strives to become a cross-chain hub by linking major blockchain networks like Ethereum, Polkadot, and Binance Smart Chain via Avalanche’s subnets. Established in 2021 with a $6 million investment, BENQI has attracted strategic investors such as Ascensive Assets, Dragonfly Capital, and Spartan Group, underscoring its potential in the DeFi sector.
What Makes BENQI Stand Out in DeFi?
BENQI distinguishes itself as a leading DeFi project on the Avalanche platform, offering users on congested and centralized networks an alternative for transferring their idle assets. By leveraging Avalanche, BENQI provides seamless and cost-effective decentralized financial services, improving user control over financial strategies. Developers find value in using BENQI to create financial products and mitigate Ethereum’s network congestion with faster, cheaper solutions.
Concrete insights into BENQI’s offerings include:
- BENQI supports DeFi users by enabling easy asset transfers.
- The protocol attracts significant investment from top venture firms.
- BENQI mitigates Ethereum network congestion with cost-effective alternatives.
- It fosters blockchain interoperability through Avalanche subnets.
Individuals interested in acquiring BENQI Coin can do so securely through Binance, a leading cryptocurrency exchange. QI Coin is available in pairs like QI/BTC, QI/BNB, QI/USDT, and QI/BUSD on this platform. Users must first register on Binance, transfer funds to their wallet, and then purchase QI Coin by selecting the desired trading pair and completing the transaction. The ease of acquisition and broad trading options contribute to BENQI’s growing popularity among cryptocurrency enthusiasts.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/benqi-coin-gains-traction-with-defi-users