BENQI (QI) promises to be the Avalanche platform's first DeFi Lending project. It allows DeFi customers on congested and centralized networks to move and store their unused assets on BENQI with no restrictions and inexpensive network prices. BENQI customers can use Avalanche to access decentralized financial services and gain more control over their plans in a simple and cost-effective way.
BENQI also hopes to alleviate the Ethereum network's overcrowding by offering Ethereum users a less expensive and speedier alternative. BENQI members can gain a clear view of interest rates by withdrawing liquidity from the shared liquidity market, borrowing from the liquidity market, and borrowing from the liquidity market.