BENQI Staking Review
Avalanche's leading liquid staking and lending protocol
What is BENQI?
BENQI is a Liquid Staking Protocol rated 4.0 out of 5 in our reviews. In plain terms, it's a place to put your crypto to work and earn staking rewards — currently around 8.0% APY on average. If you're just starting out, the key thing to know is what kind of platform it is: Liquid Staking Protocol platforms differ in who holds your keys, how much control you keep, and how the fees (10% of staking rewards) are charged.
Is BENQI good for staking beginners?
The short answer: BENQI works well if its trade-offs match what you need. What people like: avalanche-native — no bridge risk; savax usable in trader joe, gmx, and other avalanche defi. What to keep in mind: avalanche-only; smart contract risk. For a first-time staker, the biggest questions are whether the 10% of staking rewards fee structure eats into your ~8.0% return and whether you're comfortable with how BENQI handles custody.
How to get started on BENQI
Getting going is straightforward: create and verify your account, deposit the crypto you want to stake, then choose the staking option and confirm. Start with a small amount you're comfortable leaving staked, check the unbonding/lock-up terms before you commit, and only scale up once you've seen a reward payout land. The step-by-step guide below walks through it for BENQI specifically.
About BENQI
BENQI is an Avalanche-native DeFi protocol offering liquid staking (sAVAX), lending, and yield products. sAVAX is widely integrated across the Avalanche DeFi ecosystem.
Is BENQI right for you?
- •Avalanche-native — no bridge risk
- •sAVAX usable in Trader Joe, GMX, and other Avalanche DeFi
- •Integrated lending market (Qi Protocol)
- •No minimum stake
- •Avalanche-only
- •Smart contract risk
- •Lower TVL than Ethereum liquid staking protocols
What can you stake on BENQI?
How to stake on BENQI
Set up an Avalanche wallet
Use Core Wallet or MetaMask configured for the Avalanche C-Chain.
Get AVAX
Buy AVAX on Coinbase, Binance, or Kraken and transfer to your wallet.
Visit app.benqi.fi/liquid-staking
Connect your wallet and stake AVAX to receive sAVAX.
Use sAVAX in the Avalanche DeFi ecosystem
Deploy sAVAX as collateral in lending markets or liquidity pools for additional yield.
BENQI staking — common questions
What is sAVAX?
sAVAX is BENQI's liquid staking token for Avalanche. It increases in value relative to AVAX as staking rewards accumulate.