BENQI Partnership with Echidna
BENQI Partnership with Echidna allowing Platypus, BENQI, and Echidna users to maximize their staking APR!
BENQI Partnership with Echidna, Joint Incentives Program
The Great Token Exchange!
They’ll pay QI from their BENQI token exchange to sAVAX and wAVAX for four months. More LPs will stake sAVAX and wAVAX to earn bigger PTP and QI, boosting user incentives and enhancing liquidity.
Additionally, 10% of QI emissions will be redirected from Platypus to Echidna’s sAVAX & AVAX pools. In exchange, they moved ECD to BENQI, which is now inaccessible to veECD, the voting power for Platypus’ gauges.
BENQI, the top AVAX liquidity market and liquid staking protocol, presents a method for unlocking locked $AVAX by tokenizing staked AVAX into sAVAX, improving capital efficiency while allowing users to maximize return on staked assets.
Users should divide their deposits across wAVAX and sAVAX to get PTP and QI benefits.
About Echidna Finance
Built for Platypus Finance, Echidna Finance is a yield enhancer. Stablecoin LPs can leverage Echidna’s vePTP treasury to boost their LP rewards on Platypus without staking PTP.
About Benqi
BENQI is a decentralized non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets.
SOURCE: Medium
