By Tyler S - Cryptocurrency Broker - 25-08-2021
A market protocol for liquidity, BENQI (QI), has recently seen an exponential growth in its total value locked (TVL). The protocol is an algorithmic market tool used to connect Decentralised Finance (DeFi) initiatives with institutional networks. BENQI is built on the Avalanche (AVAX) network and has greatly benefitted from the network's latest mainnet release. The mainnet launch occurred on August 19th, since then, the protocol has witnessed a high rise in TVL exceeding $1 billion.
The protocol grew its TVL due to its partnership with the Avalanche (AVAX) Foundation. BENQI collaborated with the foundation to participate in a liquidity mining program to which all parties benefitted and rejoiced in the acceleration for the DeFi. Avalanche's native token AVAX is reportedly used as a reward within the liquidity mining program. BENQI users are given AVAX incentives when they're borrowing and lending various cryptoassets available. According to the protocol, users can buy QI, its native cryptocurrency, to use the token for governance on the platform.
Significantly, BENQI has raised just over $1 billion after launching this week. In comparison to other decentralised protocols, BENQI's achievement is unexpectedly remarkable as initiatives such as Aave (AAVE) took a little less than a year to hit $1 billion. BENQI is a money market tool that allows users to borrow and lend through the protocol. BENQI users can invest in QI and other cryptocurrencies to lend their assets to earn passive income as the users are providing risk-free rates of
If you are looking to Buy and Sell BENQI, then you can head over to BC Bitcoin where you can safely buy from the best cryptocurrency website in the UK today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards