BENQI Partnership with Echidna

Published on: 10.11.2022
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.

Website | Twitter

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.

Website | Twitter

SOURCE: Medium

Market Stats:
BTC Dominance: 52.48%(-0.16%/24h)
ETH Dominance: 17.93%(-0.06%/24h)
Defi Market Cap: $104.58B(+3.55%/24h)
Total Market Cap: $2563.37B(-1.11%/24h)
Total Trading Volume 24h: $97.81B(+22.25%/24h)
ETH Market Cap: $458.64B
Defi to ETH Ratio: 22.8%
Defi Dominance: 3.87%
Altcoin Market Cap: $1218B
Altcoin Volume 24h: $64.57B
Total Cryptocurrencies: 29928
Active Cryptocurrencies: 10067
Active Market Pairs: 83336
Active Exchanges: 772
Total Exchanges: 8609
BTC: 68273.32$(1.14%/1H)
ETH: 3824.79$(1.17%/1H)
AVAX: 37.06$(1.25%/1H)
BNB: 600.47$(0.65%/1H)
MATIC: 0.73$(1.21%/1H)
FTM: 0.82$(1.35%/1H)
ADA: 0.46$(0.79%/1H)
DOT: 7.41$(1.11%/1H)
UNI: 11.1$(1.99%/1H)
CAKE: 2.96$(0.71%/1H)
SUSHI: 1.25$(2.43%/1H)
ONE: 0.02$(1.83%/1H)