BENQI is Avalanche's main lending protocol + LSD (sAVAX). Central to Avalanche DeFi; less relevant outside AVAX ecosystem.
What BENQI offers
- Avalanche's main lending market
- sAVAX liquid staking token
- Ignite validator subsidy program
- Long-standing Avalanche DeFi hub
Verdict
BENQI is Avalanche's main DeFi hub. Central to AVAX ecosystem; smaller than tier-1 multi-chain lenders.