# BENQI

> Largest DeFi Platform (Liquid Staking and Lending) on Avalanche by TVL

BENQI helps users access DeFi services on Avalanche by providing lending, borrowing, and liquid staking products with low fees and fast transactions.

BENQI helps DeFi users access financial services on Avalanche by providing lending markets, liquid staking, and validator deployment tools. Users can lend and borrow digital assets, stake AVAX while maintaining liquidity through sAVAX tokens, and deploy validators with minimal capital requirements. BENQI reduces barriers to DeFi participation through Avalanche's fast settlement and low transaction costs.

- Type: Project
- Sector: Finance
- Status: Active
- Founded: 2020-12-01
- Profile: https://thegrid.id/profiles/benqi

## Products

- [BENQI Liquid Staking](https://thegrid.id/profiles/benqi): BENQI Liquid Staking tokenizes staked AVAX through C-Chain staking, issuing sAVAX tokens that maintain liquidity while earning validation rewards. The system allocates delegations using a 35/65 split between community-voted validators and randomly selected validators meeting minimum criteria. (Liquid Staking, Live, Main Product)
- [BENQI Markets](https://thegrid.id/profiles/benqi): BENQI Markets provides lending and borrowing pools through Core Markets for liquid assets and Avalanche Ecosystem Markets for long-tail assets and tokenized real-world assets. The protocol uses algorithmic interest rate models and isolated market architecture for risk management. (Decentralised Borrowing & Lending, Live)
- [Ignite](https://thegrid.id/profiles/benqi): Ignite deploys Avalanche validators and Subnets through Pay-As-You-Go weekly fee options or QI staking models, eliminating technical complexity and capital requirements for validator operation. (Node Hosting, Live)

## Assets

- [QI (QI)](https://thegrid.id/profiles/benqi): QI is the governance token of BENQI, a DeFi protocol on Avalanche. It is used to stake for BENQI Miles, which grant voting rights for validator delegation and protocol governance decisions. Unstaking any amount of QI resets the user's entire accumulated Miles balance to zero, incentivizing long-term commitment to the protocol. (Governance)
- [BENQI: Staked AVAX (sAVAX)](https://thegrid.id/profiles/benqi): sAVAX is a liquid staking token representing staked AVAX on BENQI Liquid Staking. It is used as collateral in DeFi protocols while accruing validation rewards from the Avalanche network. The system allocates delegations using a 35/65 split between community-voted validators and randomly selected validators, ensuring decentralization while maintaining staking efficiency. (Liquid Staking Tokens (LSTs))

## Links

- [Main](https://benqi.fi)
- [Privacy policy](https://docs.google.com/document/d/1EphMf-Y5ANb50cAxCCk4n27FZ454AqttNLg4_QAa5lI/edit?tab=t.0#heading=h.wo6z7nslvqaj)
- [Terms of Service](https://docs.google.com/document/d/1I-bPvJqBApu1PtzwLBFQ9VzcX8unVWMM3RK2HQxCghc/edit?tab=t.0#heading=h.b53g01uvy8ng)
- [Documentation](https://docs.benqi.fi)
- [Media Kit/branding](https://docs.benqi.fi/resources/media-kit-logos-and-graphics)
- [GitHub](https://github.com/Benqi-fi)
- [Twitter / X](https://x.com/BenqiFinance)
- [Discord](https://discord.com/invite/jyPAjZjwk6)
- [Telegram](https://t.me/BENQIFinance)
- [Telegram](https://t.me/benqifinance_announcements)
- [YouTube](https://www.youtube.com/c/benqifinance)

## Legal

This data is provided under two licensing models.

Model 1 - open data. The open data core is licensed under the Open Database License (ODbL) — a copyleft/share-alike license allowing free use, modification, and sharing for any purpose. Attribution is required: include "Powered by The Grid" linking to https://thegrid.id wherever the data is used. Derivative databases must be shared under ODbL terms. Trademarks, logos, and brand names (marked "Special TPIP") are not covered by the ODbL. For ML/AI use: training datasets that substantially extract ODbL data are Derivative Databases and must be shared under ODbL if publicly used; models must be attributed in documentation.

Model 2 - commercial licenses. The Grid Data Service (TGDS) is also available as a commercial license. See [Web Services Terms](https://about.thegrid.id/legal/web-services-terms) for commercial use that is not covered by the open data service.

The following applies to both licensing models.
- All data is provided AS IS with no guarantees of accuracy.
- The Grid does not provide investment, legal, or tax advice, and
- a project's presence in The Grid's data does not imply endorsement.


- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP