The QI token is a native asset on Avalanche and oversees the entire ecosystem of the BENQI protocol including future iterations of the protocol.
QI is required to vote and decide on the outcome of proposals through BENQI Improvement Proposals (BIPs). The protocol will initially be governed by the founding team, and will eventually transition to a Decentralized Autonomous Organization (DAO). As part of the DAO, holders of the QI token will be able to initiate proposals and vote on issues that will steer the direction of the protocol.
The total supply of QI will be 7,200,000,000 tokens. The token distribution is designed to ensure that market participants who actively engage with the platform will receive QI tokens. The majority of the tokens will be distributed through the Liquidity Mining program.