Why Is BENQI (QI) Pumping?
The decentralized finance (DeFi) lending protocol BENQI ($QI ) on the Avalanche blockchain has seen its governance token QI go on a strong price run this week. QI has pumped over 45% based on data from Binance after a major breakout.
BENQI offers users a platform to lend, borrow, and earn interest on their crypto assets as an alternative to congested networks like Ethereum. As the first DeFi lending project built on Avalanche, BENQI aims to provide a faster and cheaper solution for decentralized finance.
BENQI was developed by Rome Blockchain Labs Inc. Founded by JD Gagnon, Hannu Kuusi, and Alexander Szul, BENQI has focused on DeFi applications and liquidity solutions. JD Gagnon, CEO of the project and Hannu Kuusi and Alexander Szul played important roles in the technology and operational development of the project.
The probability of continuing its upward movement in line with the price of $AVAX seems very high. #dyor
