avalanche

NongHyup Bank, one of the top five financial institutions in South Korea, has just launched an ambitious pilot project aimed at revolutionizing the value-added tax (VAT) refund process for international tourists. This project harnesses the power of blockchain technology and stablecoin, deployed on the #Avalanche platform, in collaboration with renowned global partners including Mastercard, Worldpay, and Fireblocks.

Today, as a member of @DAO Labs , I'll be discussing the @BENQI ecosystem, which operates on the #Avalanche side, through the lens of #SocialMining .
Stake, Vote, Strengthen...
Initially, instead of viewing $QI as a direct investment, it's more accurate to think of it as an access key within the BENQI ecosystem. When you stake QI, you earn BENQI Miles.
You can use your earned BENQI Miles for the following purposes:
• Directing $AVAX delegations to validators
• #DAO governance
• A security module as the protocol develops.

Over time, you'll gain the right to vote on various aspects of the protocol. The key here is the continuation of your QI staking process and the accumulation of Miles. These Miles are used to direct #AVAX delegation to Avalanche validators through Node Voting. In other words, your votes determine which validators receive a share of the Benqi Liquid Staking pool, thus indirectly contributing to the security of the network.

As BENQI matures, decentralization will gradually continue. Ultimately, it will include both on-chain and off-chain QI token holders. It will be governed by a DAO comprised of stake holders and governance structures. The founding team will launch the first version of BENQI. Examples of future voting opportunities using BENQI Miles include:
• The Interest Rate Model
• New assets that meet the risk requirements of the protocol
• Risk parameters for over-collateralization and liquidation
• Changes to the Liquidity Mining Program to adjust incentives depending on market conditions
• Protocol improvements such as changes to smart contracts and governance processes
• Protocol fee sharing

BENQI Miles holders can allocate their votes to support specific Avalanche validators. They can also participate in Node Voting, where they can influence how AVAX is transferred from BENQI's Liquid Staking Pool.

At certain times in each project: Opportunities such as validators, liquidity providers, or whitelisting for new integrations may be announced. These are typically subject to specific conditions. It's important to continue monitoring the project to avoid missing out on these opportunities.

Participation in the @BENQI $QI ecosystem is more than just lending your assets and earning returns or providing liquidity. From having a say in the future of the protocol to directly supporting the security of the #Avalanche $AVAX network, there are opportunities to put you at the center of the ecosystem.
As a member of the @DAO Labs #SocialMining community, I explored ways to become an active part of the BENQI ecosystem and prepared a short article for you.
I- QI Staking and Voting
Getting involved in BENQI's governance processes allows you to shape the protocol's future. The first step to having a say in governance is staking QI tokens. In exchange for staking QI, you earn BENQI Miles, which represent your voting power in the protocol. However, I would like to make an important reminder here: If you unstake any of the QI tokens you have staked, you will cause all accumulated BENQI Miles balance to be reset.
So, what are the earned BENQI Miles used for? You can use your existing BENQI Miles to participate in votes that determine which Avalanche validators the AVAX delegations in BENQI's liquid staking pool will be directed to. Your votes directly impact the chances of validators competing for a share of the BENQI Miles Pool, which controls 35% of the delegations in BENQI's liquid staking pool.
In addition, BENQI plans to move to a full community-driven DAO structure by 2026. This will allow BENQI Miles holders to vote not only in the selection of validators but also in protocol parameters such as interest rate and collateral multiplier.

II- BENQI Ignite: The easiest way to become a validator
BENQI Ignite is a platform that makes it easy for you to become an Avalanche validator without high capital requirements. There are two flexible options you can consider:
Pay-As-You-Go (PAYG): In this capital-free model, users can rent the 2,000 AVAX needed to run a verifier for a fee.
Stake: You can enable BENQI to run a validator on your behalf by staking 200 AVAX worth of QI, earning QI rewards in the process.
The entire process works much more smoothly thanks to BENQI’s integrations with its partner networks. Notably, #Treehouse ’s tAVAX product, which has recently garnered attention, increases both liquidity and yield by utilizing sAVAX as a core component.
This transforms sAVAX into not only a liquid staking tool, but also a broader yield infrastructure within #defi . With the Core Wallet integration, you can do loads of transactions, like staking on the Avalanche network, without paying gas fees, which makes BENQI way more accessible within the Avalanche ecosystem.
All of this allows you to transform from a passive user into an active stakeholder. However, before taking any of these steps, understanding the protocol structure and shaping your strategy accordingly is always the best approach. Review these options to shape BENQI's future and strengthen the Avalanche network.

@BenqiFinance is a core DeFi infrastructure on #Avalanche built to make lending, staking, borrowing, and validation more accessible and efficient. I work with the @DAO Labs as a #SocialMining which is why I will be telling you about $QI today, it focuses on turning idle capital into usable liquidity so users can participate across DeFi while earning rewards.
Core Products

Lending & Borrowing: Supply assets to earn interest or borrow against collateral with low fees and fast settlement.Liquid Staking: Stake AVAX and receive sAVAX, a yield-bearing token you can use across DeFi. (See image marker for current APR.)
Ignite (Run Validators): Tools for running validators that secure Avalanche while earning rewards with $QI incentives.Node Voting: Direct liquid staking delegations by voting, helping distribute network power and earn AVAX.
How Users Benefit
Users earn staking rewards, continue to use sAVAX for yield farming or as collateral, and borrow or lend to amplify capital efficiency. $QI aligns incentives across users, validators, and the protocol.
Why BENQI Matters
By making staked assets composable, @BenqiFinance expands liquidity on Avalanche and lowers barriers to DeFi participation, more access, more yield, more utility.