Ask about Benqi · freeTotal Value Locked$246.37m
TVL by Chain
Avalanche$246.37m
Key Metrics
Fees 30d$1.29m
Fees 30d by chain
Avalanche$1.29m
Fees 7d$372,782
Avalanche$372,782
Fees 24h$33,056
Avalanche$33,056
Cumulative Fees$74.19m
Avalanche$74.19m
Revenue 30d$142,864
Revenue 30d by chain
Avalanche$142,864
Revenue 7d$40,435
Avalanche$40,435
Revenue 24h$3,788
Avalanche$3,788
Cumulative Revenue$8.79m
Avalanche$8.79m
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)$1.89m
Earnings 30d$142,864
Earnings 7d$40,435
Earnings 24h$3,788
Cumulative Earnings$8.79m
Collateral Liquidated 30d$380,718
Collateral Liquidated 30d by chain
Avalanche$380,718
Collateral Liquidated 7d$82,401
Avalanche$82,401
Collateral Liquidated 24h$28
Avalanche$28
Cumulative Collateral Liquidated$1.23m
Avalanche$1.23m
Market Cap$17.19m
$QI Price$0.0024
Fully Diluted Valuation$17.19m
Outstanding FDV$17.19m
$QI Volume 24h$1.09m
CEX Volume$657,692
DEX Volume$460,414(42.18% of total)
Active Loans$36.09m
Treasury$10.53m
Majors$241,159
Stablecoins$2.56m
Own Tokens$5.69m
Others$2.04m
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
Yields
Pools Tracked16
Average Supply APY2.57%
User Activity
Active Addresses (24h)62
Transactions (24h)801
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 Active Loans and Pool2. Daily values are UTC snapshots from Aug 19, 2021 to Oct 18, 2026.
All-time high TVL: $1.735b on Dec 3, 2021. All-time low TVL: $105 on Aug 19, 2021.
Daily TVL, Sep 19, 2026 to Oct 18, 2026
| Date | TVL |
|---|---|
| Sep 19, 2026 | $211.12m |
| Sep 20, 2026 | $253.82m |
| Sep 21, 2026 | $294.09m |
| Sep 22, 2026 | $284.09m |
| Sep 23, 2026 | $284.2m |
| Sep 24, 2026 | $259.64m |
| Sep 25, 2026 | $261.03m |
| Sep 26, 2026 | $270.45m |
| Sep 27, 2026 | $276.86m |
| Sep 28, 2026 | $274.11m |
| Sep 29, 2026 | $272m |
| Sep 30, 2026 | $286.44m |
| Oct 1, 2026 | $273.43m |
| Oct 2, 2026 | $277.08m |
| Oct 3, 2026 | $273.86m |
| Oct 4, 2026 | $280.46m |
| Oct 5, 2026 | $280.34m |
| Oct 6, 2026 | $281.32m |
| Oct 7, 2026 | $291.15m |
| Oct 8, 2026 | $277.78m |
| Oct 9, 2026 | $254.94m |
| Oct 10, 2026 | $262.49m |
| Oct 11, 2026 | $263.01m |
| Oct 12, 2026 | $277.76m |
| Oct 13, 2026 | $257.1m |
| Oct 14, 2026 | $261.4m |
| Oct 15, 2026 | $254.28m |
| Oct 16, 2026 | $254.45m |
| Oct 17, 2026 | $252.46m |
| Oct 18, 2026 | $248.93m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $699.22m |
| 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 18, 2026 (latest) | $248.93m |
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, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $2.44m | $307,159 | $0 |
| 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 (to date) | $749,498 | $83,189 | $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 Oct 18, 2026, Benqi has $246.37m in total value locked. TVL has increased 25.4% 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 $1.29m in fees. Of that, $142,864 was protocol revenue. Based on the trailing year, the annualized rate is $16.19m in fees and $1.89m in revenue.
What is the QI token price and valuation?
QI is currently trading at $0.0024. Its circulating market capitalization is $17.49m, ranking it #1,134. Its fully diluted valuation is $17.49m. Supply currently stands at 7.2b circulating, 7.2b total supply, 7.2b maximum supply.
How has QI performed recently?
QI is down 16.1% over the past 7 days and up 80.7% over the past 30 days. Its all-time high is $0.39, reached on Aug 23, 2021. The token is currently 99.4% 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 Oct 18, 2026, Benqi has $36.09m in active loans.
Does Benqi have a treasury?
Benqi has a tracked treasury currently valued at $10.53m. Its holdings include $2.56m in stablecoins, $241,159 in major assets, $5.69m in its own tokens, $2.04m in other assets.