The QI token is a native asset on Avalanche and oversees the entire ecosystem of the BENQI protocol including BENQI Liquidity Market and BENQI Liquid Staking.
QI can be staked for a utility token, veQI that grants Avalanche Validators additional AVAX delegations from BENQI Liquid Staking. Detailed information on veQI:
QI is also required to vote and decide on the outcome of proposals through BENQI Improvement Proposals (BIPs). The protocol is currently 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 is 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.