BENQI

Name: BENQI
Brand: Cryptocurrency
SKU: QI
Price: 0.0109749513619835840283 GBP
Availability: InStock

QI

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Past performance is not a reliable indicator of future results. Learn more about asset risks.

Investment Risk

Baseline risk

All crypto-assets are risky, regardless of the type of token you hold. Here are some ‘baseline’ risks to be aware of before deciding to invest.

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Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.

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Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.

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Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.

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Don’t put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.

Defi tokens

Decentralised Finance (or ‘DeFi’) tokens (e.g. , ) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology.

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Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens.

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Regulatory risk: DeFi operates in a decentralized manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets.

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For example, the Perpetual Protocol (PERP) and Quickstop (QUICK) protocols may be accessible in jurisdictions where some or all the available activity may need to be regulated now or in the future. If a regulator deemed the activity to be in breach of regulation, this could seriously impact token value.

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Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens.

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Data/oracle risk: DeFi protocols often rely on external data sources or ‘oracles’. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols.

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Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.

About BENQI

QI is the governance token of Benqi, a DeFi protocol on Avalanche. Benqi features liquid staking support using tokenized staked AVAX. Benqi also features a liquidity market that allows users to lend and borrow tokens.

Resources

BENQI (QI) is a decentralized liquidity market and liquid staking protocol that operates on the Avalanche smart contract network. It provides a platform for users to lend, borrow, and potentially earn market yields using their digital assets. Additionally, BENQI aims to enhance capital efficiency by enabling users to unlock their staked AVAX for use on decentralized financial protocols. The protocol was developed by Rome Blockchain Labs Inc., a software development firm with a focus on decentralized finance (DeFi). BENQI was launched in 2021 and has been striving to provide an alternative to Ethereum users that is potentially less expensive and faster.

BENQI operates by providing a platform for users to lend and borrow digital assets. Users can supply liquidity to the shared market and borrow from it using their supplied assets as collateral. The protocol also offers a liquid staking solution that tokenizes staked AVAX, giving users the ability to use, swap, or collateralize the yield-bearing asset within decentralized finance applications. BENQI's interest rate models dynamically adjust the interest rates of each asset market depending on the utilization rate, with the aim of ensuring healthy levels of available liquidity. The protocol also includes a governance mechanism, where QI token holders can vote on proposals affecting the protocol's key parameters.

BENQI aims to provide a platform for users to lend, borrow, and potentially earn market yields with their digital assets. It also seeks to offer a solution for capital efficiency by allowing users to unlock their staked AVAX for use on decentralized financial protocols. Developers can use BENQI to create financial products using the protocol and governance tokens. BENQI also aims to provide an alternative to Ethereum users with the intention of easing the overloading of the Ethereum network. Furthermore, BENQI's governance mechanism allows QI token holders to participate in the development of the project, initiate proposals, and vote on issues.

BENQI was founded in 2021 by Rome Blockchain Labs Inc., a software development firm with a focus on decentralized finance (DeFi). The founding team includes JD Gagnon, Hannu Kuusi, and Alexander Shul. Prior to Rome Blockchain Labs, Gagnon created the Velox algorithmic trading platform and is also the founder and CEO of Scotch & Ramen Media, Inc. Kuusi has experience building institutional-grade infrastructure for financial technology and military applications, while Shul manages the development of the BENQI liquidity market platform. The protocol launched its own QI token on April 28, 2021, with a total supply set at 7,200,000,000 tokens.

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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.

Market

United Kingdom Market stats

Market cap

£53.8M

Volume (24h)

£3.1M

Circulating supply

4.9B QI

Typical hold time

16 days

Popularity

#435

All time high

£0.25

Past performance is not a reliable indicator of future results. Learn more about asset risks.

This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.

United Kingdom Market performance

Price change (1h)

+0.31%

Price change (1d)

+10.47%

Price change (1w)

+1.47%

Price change (2w)

+9.9%

Price change (1m)

+9.6%

Price change (1y)

+168.04%

Past performance is not a reliable indicator of future results. Learn more about asset risks.

This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.

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Social

Some highlights about BENQI on social media

276 unique individuals are talking about BENQI and it is ranked #1,051 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, BENQI has an average sentiment score of 3.3 out of 5. Finally, BENQI is becoming more newsworthy, with 0 news articles published about BENQI. This is a 0% increase in news volume compared to yesterday.

On Twitter, people are mostly bullish about BENQI. There were 54.9% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about BENQI. 45.1% of tweets were neutral about BENQI. These sentiments are based on 51 tweets.

On Reddit, BENQI was mentioned in 1 Reddit posts and there were 3 comments about BENQI. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

Overview

Contributors

276 people

Posts

30 posts

Dominance

0.02%

Volume rank

#1,051

Average Sentiment

3.3 out of 5

Twitter

Tweet Count

51 people

Sentiment

54.9%

Bullish

45.1%

Neutral

Bearish

BENQI Calculator

How much is 1 QI?

Conversion Table

QI/USD (United States Dollar)

$0.0146

QI/CAD (Canadian Dollar)

CA$0.0197

QI/GBP (British Pound)

£0.0110

QI/JPY (Japanese Yen)

¥2.08

QI/INR (Indian Rupee)

₹1.22

QI/BRL (Real)

R$0.0789

QI/EUR (Euro)

€0.0131

QI/NGN (Nigerian Naira)

NGN 23.90

QI/KRW (South Korean Won)

₩19.36

QI/SGD (Singapore Dollar)

S$0.0188

BENQI is on the rise this week.

The price of BENQI has increased by 0.31% in the last hour and increased by 10.47% in the past 24 hours. BENQI’s price has also risen by 1.47% in the past week. The current price is £0.0110 per QI with a 24-hour trading volume of £3.15M. Currently, BENQI is valued at 95.56% below its all time high of £0.25. This all-time high was the highest price paid for BENQI since its launch.

The current circulating supply of BENQI is 4,893,175,455 QI which means that BENQI has as total market cap of 4,893,175,455.

FAQ

What is the current price of BENQI?

We update our BENQI to GBP currency in real-time. Get the live price of BENQI on Coinbase.

What is the market cap of BENQI?

The current market cap of BENQI is £53.82M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of BENQI?

The all-time high of BENQI is £0.25. This all-time high is highest price paid for BENQI since it was launched.

What is the 24 hour trading volume of BENQI?

Over the last 24 hours, the trading volume of BENQI is £3.15M.

What other assets are similar to BENQI?

Assets that have a similar market cap to BENQI include Highstreet, Humanscape, MAP Protocol, and many others. To see a full list, see our comparable market cap assets.

How many BENQI are there?

The current circulating supply of BENQI is 4.9 billion.

What is the typical holding time of BENQI?

The median time that Coinbase customers hold BENQI before selling it or sending it to another account or address is 16 days.

What is the relative popularity of BENQI?

BENQI ranks 183 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of BENQI?

Currently, 67% of Coinbase users are buying BENQI. In other words, 67% of Coinbase customers have increased their net position in BENQI over the past 24 hours through trading.

Can I buy BENQI on Coinbase?

Yes, BENQI is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy BENQI guide.

This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.

Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.