Stutek

The BENQI protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol earn yield, while borrowers are able to borrow in an over-collateralized manner.

Business / Technical challenges

  • Businesses that already run their applications on Ethereum struggle with high fees and a low TPS (transactions per second) rate. They need a cheaper and faster alternative to optimize their operations.
  • Avalanche ecosystem needs lending platform for several assets to incentivize the whole ecosystem growth and needs to provide passive income to liquidity providers
  • Money market in the Avalanche ecosystem can fulfill the user and customers’ asset and fund requirements
  • Price oracle is the most important on money market and should consider the price manipulation and protocol liquidity risk
  • Reward program for suppliers and borrowers are necessary to ensure the high liquidity on the protocol

Solutions

  • 1Developed a protocol that users can supply/borrow/withdraw/repay/liquidate several major assets including BTC, ETH, AVAX, USDT, USDC
  • 2Integrated Chainlink price oracle to secure the asset price frequently
  • 3Check and analyze the protocol liquidity status time to time and manipulate the collateral factors and interest model

Result / Benefit of
Solutions

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