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Avalanche and BENQI Work on $3M Liquidity Mining Program

Published 08/10/2021, 10:30 AM
Avalanche and BENQI Work on $3M Liquidity Mining Program

  • The Avalanche Foundation and BENQI are coming together for a liquidity mining program.
  • $3 million AVAX will be allocated as liquidity incentives for BENQI users.
  • The next phase of Avalanche will focus on expanding money markets.

The Avalanche Foundation is collaborating with BENQI, an algorithmic liquidity market protocol, for a joint liquidity mining program. The event will celebrate the launch of the BENQI protocol on August 19 and the next phase of growth within Avalanche’s DeFi ecosystem.

Avalanche will allocate $3 million of AVAX, its native token, as liquidity incentives for BENQI users. Other than this, additional incentive programs will follow soon. The AVAX will be offered as a reward to users who are borrowing and lending crypto on the protocol with BENQI.

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