BENQI Tokenomics Overview
Full BENQI tokenomics breakdown: QI token allocation, vesting schedule, supply distribution, unlock dates, and investor terms.
Produced by Tokenomics.com in collaboration with BlackTokenomics.
TGE DateAugust 18, 2021
Max Total Supply7,200,000,000
Total Supply7,200,000,000
Transparency
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QI Tokenomics FAQ
Key questions and answers about BENQI tokenomics.
What is the utility of the QI token?
BENQI has 5 primary token utilities:
- Staking Rewards: Users who stake QI in the Ignite Stake validator option earn QI rewards in return for providing collateral (QI worth 200 AVAX) while BENQI supplies the full 2,000 AVAX to run a validator.
- Staking Access: Staking QI is required to accumulate BENQI Miles for Node Voting governance, and staking QI worth 200 AVAX is required to access BENQI-supplied validator capital in the Ignite Stake option.
- Fee Discounts: QI holders receive a 5% discount on Ignite PAYG validator hosting fees when paying in QI instead of AVAX or USDC.
- Service Payments: QI can be spent to pay for Ignite PAYG validator hosting fees (minimum 8 AVAX/week equivalent), with the protocol accepting QI alongside AVAX and USDC.
- Vote Escrow: Staking QI generates BENQI Miles (formerly veQI) that accrue linearly over time at 0.000003888888888 Miles per staked QI per second, up to 100x the staked amount. Any unstaking resets the entire Miles balance to zero, incentivizing longer lockup for greater voting power.
What is the token allocation for QI?
BENQI token distribution allocates 7,200,000,000 QI across 5 primary stakeholder groups:
- Community: 45.00% (Community Incentives 45.00%)
- Foundation: 20.00% (Foundation 15.00%, Exchange Liquidity 5.00%)
- Private Investors: 18.00% (Private Sale Round 13.00%, Seed Round 5.00%)
- Insiders: 10.00% (Core Contributors 10.00%)
- Public Investors: 7.00% (Public Sale Round A 5.30%, Public Sale Round B 1.70%)
What is the vesting schedule for QI?
QI uses variable cliffs and vesting schedules that change depending on the allocation:
- Community Incentives: Varied (dependent on incentive programs)
- Foundation: 9 Month Cliff, Linear Vesting Every 3 Months x12
- Private Sale Round: 15.0% at TGE , 12 Month Linear Vesting
- Core Contributors: 12 Month Cliff, Linear Vesting Every 3 Months x12
- Public Sale Round A: 20.0% at TGE , 12 Month Linear Vesting
- Seed Round: 10.0% at TGE , 24 Month Linear Vesting
- Exchange Liquidity: Varied (depending on market needs)
- Public Sale Round B: 100.0% at TGE
How many QI tokens unlock at TGE?
5.2% of the total supply (375,120,000 QI) is unlocked at TGE, with the tokens split between Public Sale and Investors.
What is the total supply and circulating supply of QI?
BENQI has a total supply of 7,200,000,000 QI, of which 7,200,000,000 QI (100% of total) is currently circulating.
What is the token emission schedule for QI?
Total length of the full BENQI emission schedule is 4 years, with 22.54% released in Year 1, while the remaining 27.46% is released over the following 3 years.
What percentage of QI is allocated to the community?
45% of the BENQI supply is allocated to community focused pools such as Community Incentives.
What is BENQI (QI)?
BENQI, built on the Avalanche blockchain, is a decentralized non-custodial liquidity market protocol designed to make financial products accessible, scalable, and user-friendly. The protocol enables users to lend, borrow, and earn interest on their digital assets with ease. By providing an open liquidity marketplace with low fees and high scalability, BENQI empowers users to manage digital assets efficiently. Its approachability, transparent interest rates, and decentralized structure foster widespread adoption of DeFi. The platform’s native token, QI, plays a pivotal role in the BENQI ecosystem. As a governance token, $QI drives decentralization by allowing token holders to participate in the decision-making process via BENQI Improvement Proposals (BIPs). Initially governed by the core team, BENQI will transition to a Decentralized Autonomous Organization (DAO), giving $QI holders the power to propose and vote on crucial changes, influencing the protocol's evolution. Additionally, QI oversees key functions such as managing the protocol’s Treasury and shaping the platform's future iterations. Users of BENQI can instantly supply assets into or withdraw them from the shared liquidity market while earning passive income based on demand. Deposited assets can also serve as collateral for borrowing. In return, users receive tokenized yield-bearing QiTokens, which can be traded or used to reclaim their deposits at any time. This ensures flexibility and liquidity for users looking to optimize their crypto investments. BENQI excels in risk management by employing audited Smart Contracts to safeguard funds. Lenders and borrowers benefit from a system designed to mitigate risks such as Smart Contract vulnerabilities and liquidation concerns. Moreover, BENQI’s governance setup, powered by $QI, ensures a transparent, community-driven approach to platform development. As the protocol expands, BENQI plans to add more token pools, further enhancing liquidity and asset diversity. Decisions regarding future integrations will ultimately be determined by the community through QI-based governance. By leveraging Avalanche’s low-cost, high-performance infrastructure, BENQI positions itself as a leading DeFi solution offering unparalleled efficiency and accessibility. BENQI’s $QI tokenomics showcase a robust ecosystem where decentralized financial management, scalability, and community participation converge to redefine traditional lending and borrowing.
