FAQs for sAVAX

Is sAVAX transferrable?

AVAX tokens are staked on BENQI Liquid Staking to receive sAVAX (BENQI's Staked AVAX token).

Unlike running or delegating to a node, sAVAX is transferable and free to be utilized within DeFi dApps such as Automated Market Makers (AMMs), lending and borrowing platforms and other derivative and structured products.

Are there any lock up periods for unstaking sAVAX?

AVAX can be withdrawn at any time by unstaking on the BENQI Liquid Staking app but there is a 15 day unlock period.

There are secondary markets that offer direct and instant swaps between sAVAX and AVAX based on their respective market rate. Please visit the DeFi tab within the BENQI Liquid Staking app to view available options.

Are there any rewards to claim?

No. The value of sAVAX to AVAX will continually accrue based on the BENQI Liquid Staking rewards rate shown in the app.

eg: If Liquid Staking rewards are ~7.2% APR, your sAVAX holdings will be worth ~7.2% more in AVAX after one year.

Is sAVAX still accruing rewards during the 15 day unstake request?

Yes, rewards are still accruing.

It will only stop accruing during the 2 day redemption period (under Active Claims) after the 15 day unstake request.

Fees

There are currently no fees for staking and unstaking AVAX on BENQI Liquid Staking.

Protocol Revenue

The protocol earns 10% of the rewards generated by the validators, which includes the delegator fee paid to the underlying validators.