DeltaPrime continues to add new partnerships to the partnership month it started on October 24. DeltaPrime has now also announced one of its biggest partnerships, Benqi!
About The Partnership
Since the start of staking on Avalanche P-Chain, over $3 billion is currently unavailable in liquidity. This has become a big problem in the difficult times in the crypto market, at a time when liquidity is most needed. Benqi has brought the sAvax solution for this problem, which represents the staked Avax token. So far, they have unlocked a total of $65 million worth of Avax. In order to improve the Avax ecosystem, it has been seen that the two platforms have the same common purpose with the lending protocols offered by DeltaPrime. According to these two common missions, we can say that partnership is inevitable. In addition, Benqi’s co-founder and head of strategy support DeltaPrime strengthens the partnership.
Changes That Come with The Partnership
With the launch of the partnership, users will be able to use sAvax on the Delta platform. At launch you can:
- Swap sAVAX with Pangolin and Trader Joe’s
- farm sAVAX with YieldYak and Vector Finance
- Borrow AVAX or USDC against your (farmed) sAVAX
- Multiply your sAVAX returns in a cross-margin portfolio
- Create more complex strategies with the staked AVAX equivalent.
In addition, together with the partnership, Benqi’s QI token will be integrated into the Deltaprime platform as an unsecured token. DeltaPrime and Benqi have started discussions on whether sAvax will become the third of the DeltaPrime platform loanable assets.
About Benqi
Benqi is a DeFi liquidity protocol using the BENQI Liquid Staking (BLS) and BENQI Liquidity Market (BLM) tools that are built on the Avalanche network. BLS is Avax’s liquidity staking solution. Benqi unlocks the liquidity of the staked Avax tokens for users and symbolizes it as sAvax.
About DeltaPrime
DeltaPrime is a decentralized borrowing and investment ecosystem. The company is aiming to be launched to the market in the last quarter of 2022, and plans to become a DAO that offers full control over protocol integrations in the future. You can borrow up to 5 times your capital in the platform, which is built on the Avalanche network. You can borrow and invest in Avalanche protocols via the platform, and the minimum collateral rate for this is 20%.
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