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DeFi Summer 2.0: Avalanche Rush Liquidity Mining on BENQI

One of the top protocols on Avalance by TVL, Benqi Finance, is trailblazing the DeFi scene as one of the fastest growing money market protocols. Check out Benqi below and join Avalanche Rush.

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Aug 25, 2021

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DeFi Slate Fam:

Navigating Avalanche Rush so far has been well exactly that, a rush. A mania of sorts fueled by speculators hungry for yield amidst the recent crypto dump.

“When you’re the first wave, the charts don’t matter” is a tweet I saw on Twitter earlier this week referencing the current yield farming craze on Avalanche.

Leading the charge seems to be this new lending and borrowing protocol Benqi with token $QI.

They are the first lending and borrowing protocol to really hit the scene on Avalanche.

Token is up 500%+ while the protocol has $1B+ TVL and borrowers are getting paid to borrow.

Interesting right? Feels like DeFi 2020 again. However, thats the difference. It isn’t 2020 anymore. Yield farmers are smarter, and processes are *slightly* harder.

For example, the Avalanche Bridge is something that many are not yet comfortable with (We did a full blown tutorial recently here).

And adding a new RPC to your metamask isn’t something ALOT of people are used to.

Well in todays video we set out to make the lending and borrowing process extremely simple for you by bringing on a new friend Luigi, the Head of DeFi at Avalabs, to explain how to use BENQI.

Welcome back to a fun, hot ball of yield farming madness.

PLEASE be careful and responsible.

We let you know about this because were active and others in the community are as well, but that doesn’t mean its your lottery ticket!

-Andy

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DeFi Summer 2.0: Avalanche Rush Liquidity Mining on BENQI

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🔥 Partner Project Updates

Babylon Finance is an ecosystem of community-built DeFi strategies. Non-custodial, completely trustless and transparent asset management with traceable performance history.

Ruler Protocol is a market driven lending platform that provides non-liquidatable loans. As an undiscovered protocol, most APYs are quite high (so is risk!!). Check it out here!

Hermez Network is an open-source ZK-Rollup optimised for secure, low-cost and usable token transfers on the wings of Ethereum. Check it out here!

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⚠️ DISCLAIMER: Investing into cryptocurrency and DeFi platforms comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.

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