BENQi brings DeFi to the masses with a low-cost, high-speed liquidity market

Decentralized Finance (DeFi) is still nascent despite the rapid growth over the last couple of years. It has a long runway for growth ahead. However, congestion problems on Ethereum and the subsequent high network fees have forced millions of DeFi-curious people to stay away from decentralized liquidity markets. Avalanche-based algorithmic liquidity market BENQi is addressing these hurdles to fully democratize DeFi. The Benqi protocol will allow people to: Instantly supply or withdraw liquidity from the market Instantly borrow assets from the market using the assets they supply as a supply as a collateral Get live and transparent interest rates depending on the supply and demand of an asset While other lending and borrowing protocols use a block-based approach to calculate interest rates, Benqi uses a time-based approach to ensure that users get the most accurate rates. Fourteen VC firms back Benqi Benqi has raised $6 million in a strategic funding…

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