BENQI and phim 18 comYeti Finance have chosen to partner with the highly capital-efficient KyberSwap in a joint initiative to enhance liquidity and provide the best rates for sAVAX and YUSD tokens on Avalanche.
This first phase of this joint initiative is set to bring liquidity providers over $200,000 in liquidity mining rewards, with more incentives to come in the near future.
BENQI is a decentralized non-custodial liquidity market and liquid staking protocol built on Avalanche. BENQI Liquid Staked AVAX (sAVAX) is the token that users receive when staking their AVAX on the BENQI Liquid Staking (BLS) protocol. AVAX holders can get $sAVAX by staking $AVAX on BENQI here.
This is not the first time BENQI has partnered with KyberSwap for its capital efficiency benefits. Learn about BENQI’s first joint initiative with KyberSwap here.
Yeti Finance is a cross-margin lending protocol on Avalanche that allows users to borrow up to 21x against their portfolio of LP tokens, staked assets such as sAVAX, and yield-bearing stablecoins in a single debt position for 0% interest.