What is the current price of BENQI?
The current price of BENQI is $0.002734 with a 0.55% change in the last 24 hours.
Hyperliquid perpetuals only. One snapshot every 5 minutes, up to 20 returned price levels per side. Liquidity beyond those levels is unknown. This is not a liquidation heatmap or a fill estimate.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
BENQI is a decentralized finance protocol on the Avalanche C-Chain with three connected products: an over-collateralized lending and borrowing market, a liquid staking system that issues sAVAX against staked AVAX, and Ignite, a service that lets people run Avalanche validators without posting the full stake themselves. QI is the protocol's token. Staking QI accrues BENQI Miles, the unit that carries governance weight and directs a share of the protocol's validator delegations.
BENQI is not a blockchain. It is a set of smart contracts on Avalanche, so its fees and finality are Avalanche's, and its risks are contract, oracle, governance, and liquidation risks rather than consensus risks.
Official sources:
BENQI was built by a team associated with Rome Blockchain Labs, commonly identified as JD Gagnon, Alexander Szul, and Hannu Kuusi, and launched on Avalanche in 2021. The protocol's own vesting tables date the first QI unlocks to August 2021, with the foundation allocation unlocking from May 2022 and core contributor tokens from August 2022. Liquid staking followed the lending market, and Ignite was added later to turn liquid staking demand into validator supply.
Governance has not fully decentralized. The documentation states plainly that the founding team currently governs the protocol, with progressive handover to QI holders planned, and that Miles voting has so far been applied to validator selection rather than to every parameter.
Supplying and borrowing Depositors supply an asset and receive an interest-bearing claim on the pool. Deposits can be enabled as collateral, and borrowers draw other assets against them. Rates follow a jump rate model keyed to utilization: as more of a pool is borrowed, rates rise to attract supply and discourage further borrowing.
Collateral factors and health Each asset has a collateral factor capping how much can be borrowed against it. Position safety is expressed as a health value, and a position becomes liquidatable when health falls below 1. A close factor limits how much of one account's debt can be repaid in a single liquidation, and a liquidation incentive, usually 10 percent, is paid to the liquidator out of the collateral.
Two market types Core Markets hold liquid assets such as AVAX, BTC, USDC, USDT, and QI in a shared risk pool. Avalanche Ecosystem Markets are isolated pools for long-tail assets and tokenized real-world assets, where collateral generally only borrows USDC. Isolation stops a volatile listing from contaminating the core pool.
Liquid staking Users stake AVAX on the C-Chain and receive sAVAX. BENQI moves the AVAX to the Avalanche P-Chain through an off-chain multi-party computation protocol and delegates it to validators. sAVAX is a rate-accruing token: the balance you hold does not change, but the amount of AVAX it redeems for rises as rewards accrue.
Unstaking Redeeming sAVAX inside the protocol takes a 15-day unlock period, during which rewards continue to accrue, followed by a 2-day window in which the AVAX must be claimed and during which rewards stop. Anyone needing immediate liquidity sells sAVAX on a secondary market instead.
Validator delegation and Node Voting The liquid staking pool splits delegations 65 percent to an open pool and 35 percent to a pool allocated by Miles votes. To receive delegations from the Miles pool, a validator needs at least 2,000 AVAX self-staked, at least 15 days of uptime, and a delegation fee within the documented range.
Miles accrue at 0.000003888888888 per staked QI per second, roughly 336 Miles per staked QI per day, up to a ceiling of 100 Miles per QI. Unstaking any amount of QI resets the entire accrued Miles balance to zero, which is what rewards long, uninterrupted staking.
On supply, the documentation states a total of 7,200,000,000 QI, and a direct read of the token contract at 0x8729438EB15e2C8B576fCc6AeCdA6A148776C0F5 returns exactly that figure at 18 decimals. More usefully, the contract's published interface contains no mint function and no burn function at all: the supply was set in the constructor and cannot be increased or destroyed by any role, which makes the 7.2 billion figure a genuinely fixed supply rather than a marketing claim. The documented distribution allocates 3.24 billion, or 45 percent, to community incentives and liquidity mining, 1.08 billion to the foundation, 720 million to core contributors, and the remainder across seed, private, and public sale rounds plus exchange liquidity, with the vesting tables showing all of it unlocked.
Most lending protocols stop at deposits and loans. BENQI closes a loop: liquid staking gathers AVAX, that AVAX is delegated to Avalanche validators, Ignite supplies capital and operations to people who want to run those validators, and Miles voting lets QI stakers decide where a third of the delegations go. Few DeFi protocols convert governance weight into something as concrete as validator stake allocation on the underlying chain.
Against Aave and Compound, BENQI's lending design is familiar in shape, with the differences sitting in Avalanche-native assets, isolated ecosystem markets, and an explicit real-world asset track. Against pure liquid staking providers, BENQI integrates the staking token into its own money market, so sAVAX can be posted as collateral in the same application that minted it. Against a validator hosting service, Ignite is unusual in offering a route with no upfront AVAX, because the protocol supplies the 2,000 AVAX requirement while the customer pays a weekly fee.
BENQI has been audited by Halborn, with reports dated May 2021 and a further engagement spanning November 2021 to February 2022, and works with Chaos Labs on risk parameter monitoring. Liquidation price data comes from Chainlink feeds, including a dedicated sAVAX to USD feed.
The protocol's own risk documentation is unusually candid. Parameters, asset listings, and liquid staking functions are controlled through a multisignature framework; enough compromised signers could change collateral factors, list harmful assets, redirect staked AVAX, or disable protective measures. Lending and liquid staking contracts are upgradeable, and a direct check confirms it: the sAVAX token at 0x2b2C81e08f1Af8835a78Bb2A90AE924ACE0eA4bE is an EIP-1967 transparent proxy exposing admin, changeAdmin, upgradeTo, and upgradeToAndCall. Emergency functions can pause markets, staking, or redemptions, and cross-chain transfers to the P-Chain rely on a threshold MPC signing network.
BENQI is one of the largest and longest-running DeFi protocols on Avalanche and a clear example of a lending market and a liquid staking system reinforcing each other. Ignite is a rare attempt to use protocol capital to lower the barrier to running validator infrastructure, and the fixed, non-mintable token supply is easy to verify and impossible to reverse.
QI trades on centralized exchanges and on Avalanche decentralized exchanges, quoted against AVAX and stablecoins. Availability and pairs vary by jurisdiction.
QI has commonly been available on:
QI is a standard ERC-20 token on the Avalanche C-Chain, so it can be held in any wallet supporting that network, including hardware wallets. Confirm you are on the C-Chain rather than the P-Chain or X-Chain before a deposit, and verify the contract address before adding QI manually. Self-custody is what allows you to stake QI for Miles and participate in Node Voting.
Compare BENQI with related ecosystems and lending protocols on Coinrithm:
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Read the complete paper trading guideThe current price of BENQI is $0.002734 with a 0.55% change in the last 24 hours.
The daily trading volume is $531,140 representing a 2.46% change in the past 24 hours.
The market capitalization of BENQI is $19,685,341, ranking #562 globally.
The fully diluted valuation (FDV) of BENQI is $19,685,341, calculated assuming the maximum supply of 7,200,000,000 QI is in circulation.
Circulating: 7,200,000,000. Total: 7,200,000,000. Max: 7,200,000,000.
In the last 24 hours, BENQI traded between a low of $0.002587 and a high of $0.002891.
QI/USDTTether USDT0.002734 USDT
