What BENQI governs
BENQI (QI) is a DeFi protocol governance token, currently ranked 462nd by market capitalization among the assets we track. BENQI sits at the center of a decentralized-finance application. The token coordinates governance, sometimes routes protocol revenue to holders, and ties its value to how much the underlying protocol is actually used.
BENQI (QI) is a decentralized finance protocol offering liquidity and borrowing services on the Avalanche blockchain. It enables users to earn interest on their crypto assets while also providing options for leveraged yield farming.
How value is supposed to accrue
DeFi tokens are worth something when the protocol generates fees and routes value to holders — through revenue share, buybacks, or governance over a real treasury. Without that link, a governance token is just a vote.
Background & fundamentals
Its codebase is open-source, meaning the implementation can be audited rather than taken on trust. The project publishes a whitepaper documenting its original design, which is worth reading before sizing any position in QI. In sector terms it is most often filed under Avalanche (AVAX) Token, DeFi, and Binance Launchpool.
Where BENQI sits in the market
With QI near $0.00272700, BENQI carries a market capitalization of $19.63M. Around $1.14M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 5.80% of the float — a healthy level of activity for an asset this size.
Almost the entire QI supply is already in circulation (~100.0% of the 7.2B cap), so future dilution is effectively off the table. QI remains -99% beneath its all-time high of $0.3407, the kind of gap that historically takes a full cycle or a fresh catalyst to close. Measured from its all-time low of $0.00000300, QI is up +90,800%.
What the price history shows
The tape currently reads 24-hour -7.50%, 7-day +87.09%. Across roughly the last 365 days of daily candles, QI endured a peak-to-trough drawdown of about 86% before stabilizing.
Volatility profile
Recent action puts BENQI in the Extreme-volatility band — it is in a high-volatility regime — these are the conditions where outsized gains and losses both become more likely.
How to evaluate a DeFi token like BENQI
For an asset of this type, three lenses matter most:
- Protocol revenue — fees the application actually earns, and whether any of it reaches QI holders.
- Total value locked — how much capital trusts the protocol — and how sticky it is versus mercenary yield.
- Token utility — whether QI is load-bearing (governance over real value, fee rights) or decorative.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
