Benqi introduces the second phase of the Avalanche Rush program worth $ 4 million

Benqi introduces the second phase of the Avalanche Rush program worth $ 4 million

Benqi, an algorithmic liquidity market protocol in the Avalanche blockchain network, announced the start of a second phase of its running Avalanche Rush incentive program in the amount of $ 4 million.

according to a press release that is involved. The divided was divided cryptocolor , the second phase of the initiative will take 45 days.

$ 180 million incentive program for avalanches

The Avalanche Rush is an incentive program for liquidity mining of $ 180 million, which aims to integrate some of the best defi protocols into the AVAX network. It aims to provide both new and existing defi dealers with several easy-to-use, fast and inexpensive applications.

The avalanche rush-incentive runs for months and has just started with top defi projects such as Curve, Aave and Benqi.

During the first phase of the rush incentive from Benqi with a value of around $ 6 million, the credit market of Benqi and the Avalanche ecosystem testifies impressive growth, according to the PR.

The project recorded a top value of $ 2.8 billion, more than $ 1 billion of loans and a user base of almost 14,000 total users.

The Benqi team thanked its supporters both on his platform and in the avalanche community.

Dan Mgbor, the co-founder of Benqi, said:

"We are pleased to start phase 2 of our Avalanche Rush initiative. Since the assets provided by Benqi are approaching $ 2.9 billion, we would like to thank the community for their continuous support. This phase of our rush program will be the greatest Reward avalanche and benqi community. ”

bridging of defi and institutional networks

With the start of the second phase, in which Benqi received additional AVAX incentives of $ 4 million, the rush assignment of the protocol is currently a total of $ 10 million.

The project found that its vision was to bridge the gap between defi and institutional networks, and intends to achieve this goal with several solutions that are to be introduced soon.

Benqi added that it plans to launch its liquid staking solution and its safety module before the end of the year to ensure continuous growth of the protocol and the community.

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