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BENQI is a prominent decentralized finance (DeFi) protocol operating on the Avalanche blockchain, offering a comprehensive suite of services centered around lending, borrowing, and liquid staking. As a non-custodial platform, BENQI empowers users to engage with digital assets in a secure and transparent manner, without the need for intermediaries. Its core offering includes a robust liquidity market protocol where users can effortlessly lend their cryptocurrency assets to earn interest, or borrow against their collateralized digital assets, providing capital efficiency for various financial strategies. This lending and borrowing functionality is designed to be accessible and efficient, leveraging Avalanche's high throughput and low transaction costs.In addition to its liquidity market, BENQI also provides a widely adopted liquid staking solution for Avalanche's native token, AVAX. Through this feature, users can stake their AVAX and receive sAVAX, a liquid staking derivative. Similar to other liquid staking models, sAVAX represents the user's staked AVAX plus any accrued staking rewards, but crucially, it remains fully liquid. This allows sAVAX holders to participate in other DeFi protocols, such as providing liquidity on decentralized exchanges or engaging in yield farming, thereby maximizing their capital utility. The sAVAX token allows users to unlock the value of their staked assets, ensuring they can still engage with the broader Avalanche DeFi ecosystem without forfeiting staking rewards.The QI token serves as the native governance token of the BENQI protocol. Holders of QI have the power to influence key decisions regarding the protocol's operations, including interest rate models, collateral factors, and the listing of new assets. This decentralized governance structure ensures that the protocol remains community-driven and adaptable to the evolving needs of its users. BENQI's commitment to providing essential DeFi primitives on Avalanche has solidified its position as a foundational layer for decentralized applications and financial services within the ecosystem. By offering seamless lending, borrowing, and liquid staking capabilities, BENQI significantly contributes to the liquidity, capital efficiency, and overall growth of the Avalanche blockchain's decentralized finance landscape.