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Benqi Finance has announced significant developments in the DeFi space on the Avalanche ecosystem. Over 8,000,000 AVAX has been staked via Benqi's liquid staking, enhancing liquidity across the DeFi ecosystem. Additionally, Benqi has introduced isolated markets, allowing users to supply COQ and borrow USDC with a 40% collateral factor, and to supply JOE and borrow USDC with a 45% collateral factor. The USDC supply APY on Benqi is currently over 30%. These developments aim to stabilize borrow APY at lower rates and provide better liquidity options for users. Avalanche 9000 Summer is here.
Crypto dual Stable Coin defi "Liquidity Providing" is better than a Money Market Account - no counterparty, no friction. $5 trillion in money markets earning Fed Fund Rate right now. How much comes to the crypto rails on Stable Coin regulation and rate cuts to earn 7-10% APY with… https://t.co/ZHy4mWaMMR
BENQI Isolated Markets are live! 🐓UNLOCK YOUR COQ: Supply $COQ and borrow USDC with a 40% Collateral Factor 🔑QI IS YOUR KEY: Use $QI on the Supply side and borrow USDC with a 40% Collateral Factor 💪Let's ****ING JOE: Supply $JOE and borrow USDC with a whopping 45%… https://t.co/oVZCM4zYFs
$COQ-lateral is live on @BenqiFinance Supply COQ and borrow $USDC with a massive 40% collateral factor. #AVAX https://t.co/T9kOtJWO5L