JP-7 Open QI-AVAX Market

Proposal initiated by Yutsa, temperature check recorded 25 in favor and 9 against.

High Level

QI is the token of the Benqi project.

BENQI is a decentralized non-custodial liquidity market as well as a liquid staking protocol built on the high-speed Avalanche smart contract network. The lending protocol allows users to lend, borrow, or earn interest using their digital assets. The Liquid Staking protocol provides a solution for capital efficiency, offering users the opportunity to unlock their “staked” AVAX to be used on Decentralized Financial protocols

QI is token native to Avalanche which has a lot of holders since it is given as rewards for lending on BENQI's lending protocol and it has decent volume (around 500k USD / week).

Current liquidity on Pangolin is $2.4M

Currently the biggest pool for QI is the QI-AVAX on Pangolin, with BENQI having Protocol Owned Liquidity there. It is my belief that having a LB market for QI would incentivize QI holders, and why not BENQI's POL, to migrate to LB for it's better efficiency and the fees it generates.

Specification

Chain : Avalanche Token information : BENQI, QI, 0x8729438EB15e2C8B576fCc6AeCdA6A148776C0F5 Coingecko : https://www.coingecko.com/en/coins/benqi Snowtrace : https://snowtrace.io/token/0x8729438EB15e2C8B576fCc6AeCdA6A148776C0F5

Tokenomics

Supply cap : 7,200,000,000 QI Circulating supply : 3,255,164,412 QI (as of the 10th of January) 20 572 holders 45% of the total supply is allocated for liquidity mining and community incentives

Summary

QI is an Avalanche native token which has a lot of holders and good volume with most of its liquidity on Pangolin DEX. It uses a less efficient pool which could be an argument to make LP migrate to a LB market.