Altcoin Investing Pick: 1

Altcoin Premium Pick #1

BENQI (Qi)

WHAT IS BENQI

A decentralized non-custodial liquidity market protocol built on the Avalanche smart contract network. The protocol allows users to lend, borrow, or earn interest using their digital assets.

TEAM

Rome Blockchain Labs Inc. is responsible for the development of BENQI. It is an incubator and a software development firm specializing in decentralized finance (DeFi). JD Gagnon is one of the co-founders and CEO of Rome Blockchain Labs. The two other co-founders are Hannu Kuusi and Alexander Shul.

TOKENOMICS

The QI token is a native asset on Avalanche and oversees the entire ecosystem of the BENQI protocol including future iterations of the protocol.

QI is required to vote and decide on the outcome of proposals through BENQI Improvement Proposals (BIPs). The protocol will initially be governed by the founding team, and will eventually transition to a Decentralized Autonomous Organization (DAO). As part of the DAO, holders of the QI token will be able to initiate proposals and vote on issues that will steer the direction of the protocol.

Total Supply: 7,200,000,000

Liquidity Mining Program: 3,240,000,000

Token Sale: 1,800,000,000

Treasury: 1,080,000,000

Team: 720,000,000

Exchange Liquidity: 360,000,000

As of Oct 14, 2021:

All-Time High: $0.40 (Aug 24, 2021)

Circulating Supply: 325,692,000 QI

Market Cap: $41,462,433.01

Market Rank: #612

Market Launch: Aug 19, 2021

TECHNOLOGY

Qi is built on the high-speed Avalanche smart contract network.

The team chose Avalanche because of its decentralized network’s claimed high scalability, low fees and compatibility with popular plugin wallets. One of the goals of BENQI is to become a cross-chain hub, connecting Ethereum, Polkadot and Binance Smart Chain (BSC) through the Avalanche subnets.

WALLETS/EXCHANGE

*as of Oct 14, 2021

OVERALL SCORE

score is based upon transparency of the project, tokenomics, utility, and components of the website.

INVESTMENT GOAL

Short-Long Term HOLD.

Exit when investment has 2x at minimum.

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Disclaimers

*data provided from coinmarketcap and BENQI website.

The information provided on the Altcoin Investing Picks Newsletters does not constitute for investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the newsletter's content as such. The Altcoin Investing Team provides the newsletter as a service to the public, and is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within this newsletter. While the information contained within this newsletter is periodically updated, no guarantee is given that the information provided in this newsletter is correct, complete, or up-to-date. Although the Altcoin Investing Team provides analysis for these projects, Altcoin Investing News LLC is not responsible for any actions and/or decisions you decide to make.