BENQI is a highly scalable and decentralised ecosystem built to alleviate the traditional issues faced by startup and no-frill DeFi companies that lack significant capital resources. Instead, BENQI provides a Liquidity Market Protocol that is focused on being approachable, easy to navigate, and low cost. Its overall philosophy is to democratise DeFi integrating Web 3.0 operating principles such as open access to their permissionless lending technology for anyone.
Using BENQI, users can take liquidity from a shared market and instantly withdraw and supply it to other users using shared assets as collateral. Additionally, users have a transparent view of interest rates that are based on an asset’s demand and supply within the market. Users may deposit any preferred asset that the protocol accepts to gain interest based on the market’s demand for borrowing that asset. As the platform grows there will be additional token pools that are added to it. Those decisions will be voted upon by BENQI’s core team as it transitions into a DAO. All funds on BENQI are administered by smart contracts.
Sign up to buy Benqi (QI) in Australia.
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