Depositors will receive continuous earnings (interest) on their assets that algorithmically adjusts based on market conditions. Each asset has its own market of supply and demand with its corresponding APY (Annual Percentage Yield) which changes over time.
The QiToken is a representation of the user's asset balance supplied to the BENQI protocol. It is received in the wallet for supplying assets to the protocol and functions to accrue value relative to the original asset through the token's interest rate.
QiTokens minted will be based on the underlying asset supplied to the protocol (e.g: QiAVAX, QiLINK, QiWBTC, QiUSDT, etc.).
QiTokens are convertible into an increasing amount of its original asset, even while the number of QiTokens in the wallet remains the same.
Last modified 2mo ago
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