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Benqi is a decentralized liquid staking protocol built on the Avalanche smart contract network. The Benqi Liquidity Market protocol enables users to lend, borrow, and earn interest with their digital assets.

QiToken is an interest-bearing token minted and burnt upon supply and withdrawal of assets on Compound market. It denotes the amount of crypto assets supplied and the yield earned on those assets. For example, when you deposit Dai, you will receive a certain amount of QiDai from Benqi. When you redeem it, these QiDai will be disposed correspondingly.

Your yield from Benqi is the interest paid by the borrowers.

Here's one main risk Benqi may have: Contract risk: Benqi smart contracts could be hacked, or bugs in contracts could be exploited. In such cases, your assets may be lost.