Ask about Benqi · freeTotal Value Locked$217.06m
TVL by Chain
Avalanche$217.06m
Key Metrics
Fees 30d$1.15m
Fees 30d by chain
Avalanche$1.15m
Fees 7d$201,344
Avalanche$201,344
Fees 24h$27,341
Avalanche$27,341
Cumulative Fees$75.05m
Avalanche$75.05m
Revenue 30d$131,309
Revenue 30d by chain
Avalanche$131,309
Revenue 7d$24,824
Avalanche$24,824
Revenue 24h$3,760
Avalanche$3,760
Cumulative Revenue$8.89m
Avalanche$8.89m
Holders Revenue 30d$0
Holders Revenue 30d by chain
Avalanche$0
Holders Revenue 7d$0
Avalanche$0
Holders Revenue 24h$0
Avalanche$0
Cumulative Holders Revenue$0
Avalanche$0
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$1.75m
Earnings 30d$131,309
Earnings 7d$24,824
Earnings 24h$3,760
Cumulative Earnings$8.89m
Collateral Liquidated 30d$703,175
Collateral Liquidated 30d by chain
Avalanche$703,175
Collateral Liquidated 7d$35,815
Avalanche$35,815
Collateral Liquidated 24h$718
Avalanche$718
Cumulative Collateral Liquidated$1.84m
Avalanche$1.84m
Market Cap$12.38m
$QI Price$0.0017
Fully Diluted Valuation$12.38m
Outstanding FDV$12.38m
$QI Volume 24h$948,358
CEX Volume$596,358
DEX Volume$347,175(36.61% of total)
Staked-$0.17(-0.0000013% of mcap)
Active Loans$33.49m
Treasury$8.74m
Majors$197,969
Stablecoins$2.58m
Own Tokens$4.17m
Others$1.8m
Total Raised$9.8m
Apr 14, 2021$6mRound: Investors: Genesis Block Ventures, Arrington XRP Capital, Ascensive Assets, Ava Labs, Dragonfly Capital, Mechanism Capital, Morningstar Ventures, Rarestone Capital, Skynet Trading, The Spartan Group, TRGC, Vendetta Capital, ZBS CAPITAL
Apr 28, 2021$3.8mRound: Public token sale
Protocol Information
BENQI is a non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets.
- Benqi Staked AvaxLiquid Staking
- Benqi LendingLending
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
Collateral Liquidated: USD value of collateral seized during protocol liquidations
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Benqi history
TVL is the default DefiLlama definition, which excludes Pool2, Active Loans, and Staking. Daily values are UTC snapshots from Aug 19, 2021 to Nov 13, 2026.
All-time high TVL: $1.735b on Dec 3, 2021. All-time low TVL: $105 on Aug 19, 2021.
Daily TVL, Oct 15, 2026 to Nov 13, 2026
| Date | TVL |
|---|---|
| Oct 15, 2026 | $254.28m |
| Oct 16, 2026 | $254.45m |
| Oct 17, 2026 | $252.46m |
| Oct 18, 2026 | $248.93m |
| Oct 19, 2026 | $247.92m |
| Oct 20, 2026 | $243.18m |
| Oct 21, 2026 | $250.97m |
| Oct 22, 2026 | $246.07m |
| Oct 23, 2026 | $235.21m |
| Oct 24, 2026 | $233.89m |
| Oct 25, 2026 | $233.57m |
| Oct 26, 2026 | $231.16m |
| Oct 27, 2026 | $232.46m |
| Oct 28, 2026 | $233.92m |
| Oct 29, 2026 | $235.24m |
| Oct 30, 2026 | $212.13m |
| Oct 31, 2026 | $224.14m |
| Nov 1, 2026 | $224.01m |
| Nov 2, 2026 | $227.66m |
| Nov 3, 2026 | $220.38m |
| Nov 4, 2026 | $220.95m |
| Nov 5, 2026 | $230.18m |
| Nov 6, 2026 | $218.71m |
| Nov 7, 2026 | $219.74m |
| Nov 8, 2026 | $217.55m |
| Nov 9, 2026 | $211.89m |
| Nov 10, 2026 | $227.33m |
| Nov 11, 2026 | $219.55m |
| Nov 12, 2026 | $222.6m |
| Nov 13, 2026 | $217.53m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $569.69m |
| Jan 31, 2025 | $530.96m |
| Feb 28, 2025 | $381.22m |
| Mar 31, 2025 | $308.64m |
| Apr 30, 2025 | $382.27m |
| May 31, 2025 | $418.84m |
| Jun 30, 2025 | $424.1m |
| Jul 31, 2025 | $533.81m |
| Aug 31, 2025 | $572.33m |
| Sep 30, 2025 | $701.65m |
| Oct 31, 2025 | $554.49m |
| Nov 30, 2025 | $406.7m |
| Dec 31, 2025 | $354.58m |
| Jan 31, 2026 | $301.91m |
| Feb 28, 2026 | $251.25m |
| Mar 31, 2026 | $247.05m |
| Apr 30, 2026 | $282.35m |
| May 31, 2026 | $263.04m |
| Jun 30, 2026 | $174.59m |
| Jul 31, 2026 | $167.69m |
| Aug 31, 2026 | $184.14m |
| Sep 30, 2026 | $286.44m |
| Oct 31, 2026 | $224.14m |
| Nov 13, 2026 (latest) | $217.53m |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $1.505b |
| Dec 31, 2022 | $114.74m |
| Dec 31, 2023 | $392.04m |
| Dec 31, 2024 | $569.69m |
| Dec 31, 2025 | $354.58m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $3.04m | $389,403 | $0 |
| Jan 2025 | $2.72m | $346,255 | $0 |
| Feb 2025 | $1.64m | $219,241 | $0 |
| Mar 2025 | $1.42m | $181,095 | $0 |
| Apr 2025 | $1.27m | $162,879 | $0 |
| May 2025 | $1.81m | $230,610 | $0 |
| Jun 2025 | $1.61m | $208,154 | $0 |
| Jul 2025 | $2.05m | $260,138 | $0 |
| Aug 2025 | $2.45m | $297,992 | $0 |
| Sep 2025 | $2.78m | $335,599 | $0 |
| Oct 2025 | $2.87m | $338,985 | $0 |
| Nov 2025 | $2.1m | $252,615 | $0 |
| Dec 2025 | $1.82m | $211,034 | $0 |
| Jan 2026 | $2.04m | $229,787 | $0 |
| Feb 2026 | $871,352 | $104,535 | $0 |
| Mar 2026 | $1.17m | $156,437 | $0 |
| Apr 2026 | $1.11m | $135,667 | $0 |
| May 2026 | $1.51m | $171,253 | $0 |
| Jun 2026 | $1m | $111,667 | $0 |
| Jul 2026 | $927,216 | $102,734 | $0 |
| Aug 2026 | $819,698 | $92,907 | $0 |
| Sep 2026 | $1.07m | $119,698 | $0 |
| Oct 2026 | $1.26m | $141,262 | $0 |
| Nov 2026 (to date) | $373,634 | $45,345 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/benqi
Frequently asked questions
What is Benqi's TVL?
As of Nov 13, 2026, Benqi has $217.06m in total value locked. TVL has decreased 17% over the past 30 days.
What chains does Benqi operate on?
Benqi operates on Avalanche. Avalanche holds the largest share at 100%.
How much has Benqi generated in fees and revenue?
Over the past 30 days, Benqi generated $1.15m in fees. Of that, $131,309 was protocol revenue. Based on the trailing year, the annualized rate is $15.06m in fees and $1.75m in revenue.
What is the QI token price and valuation?
QI is currently trading at $0.0017. Its circulating market capitalization is $12.31m, ranking it #1,303. Its fully diluted valuation is $12.31m. Supply currently stands at 7.2b circulating, 7.2b total supply, 7.2b maximum supply.
How has QI performed recently?
QI is down 2.2% over the past 7 days and down 32.8% over the past 30 days. Its all-time high is $0.39, reached on Aug 23, 2021. The token is currently 99.6% below that level.
Which protocols are included in Benqi?
Benqi is a parent protocol whose tracked products include Benqi Staked Avax and Benqi Lending.
How much has been borrowed through Benqi?
As of Nov 13, 2026, Benqi has $33.49m in active loans.
Does Benqi have a treasury?
Benqi has a tracked treasury currently valued at $8.74m. Its holdings include $2.58m in stablecoins, $197,969 in major assets, $4.17m in its own tokens, $1.8m in other assets.