Following the success of the Avalanche Rush Program, the $180 million liquidity mining incentive program invites DeFi protocols to integrate with the Avalanche blockchain platform, with the aim of supporting new and existing DeFi traders by providing seamless and efficient options for high yield farming rewards. It has already begun with leading DeFi projects like Curve, Aave, Sushiswap and BENQI. 

The first phase has been a booming success for both the Avalance network and BENQI’s lending protocol. BENQI, a liquidity market project, has garnered an all-time high of $2.8 billion in value, over $1 billion in borrows, and a user community of close to 14,000 users. With these accomplishments, the second phase of Avalanche Rush is being initiated. This phase will utilize $4 million additional AVAX incentives, which will be used in QI and AVAX crypto markets, that will run for 45 days. BENQI’s vision is to provide a link to close the gap between DeFi protocols and institutional networks, with a promise of effective upcoming solutions for this purpose.

Overwhelmed by its effective publicity and growing community, BENQI will soon launch its Safety Module and Liquid Staking Solution. Liquid Staking provides a solution for capital convenience in proof of stake networks, allowing users to open their “staked assets” and use them in DeFi platforms. Giving users the benefits of their staking rewards and the opportunity to earn additional income returns, depending on their strategy. BENQI’s Liquid Staking Solution will soon be launched in the Avalanche Network.

With all of these major accomplishments and the positive exposure, the price of the BENQI token is expected to bounce to a bullish rate in the market. The current price is $0.1032.