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Benqi and xQI

How does Vector's xQI program work?

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Vector Finance has devised a strategic partnership with Benqi, which enables users to maximize the potential of their Qi tokens. Here's how our seamless integration works to benefit you:
  1. 1.
    Token Conversion and Yield Optimization: You start by converting your Qi tokens to xQI directly on the Vector platform. This process is not only straightforward but also opens the door to the only yield potential for QI on Avalanche.
  2. 2.
    Earning veQI: The converted Qi tokens are then utilized within the Benqi ecosystem to accumulate veQI, which is essentially Qi in a vote-escrowed form. Holding veQI confers great advantages, including increased governance power within the Benqi platform, delegate power, and earning more rewards for our nodes from those delegations.
  3. 3.
    Boosting AVAX Delegation: With the veQI acquired, Vector Finance leverages its increased voting power to strategically delegate AVAX to our nodes. The rewards distributed to xQI stakers come from these AVAX delegations.
  4. 4.
    Reward Distribution: The AVAX staked on our nodes generates rewards. These are then distributed to you, the xQI stakers, as a form of passive income. It's a way of ensuring that your investment continues to work for you.
  5. 5.
    VTX Emissions and Additional Benefits: As an xQI staker, you're not only earning from AVAX rewards but also from VTX emissions. VTX is Vector's native token, and holding xQI entitles you to a share of these emissions, which can add a significant boost to your investment yield.
By engaging with our Benqi integration, you're tapping into a sophisticated yield-generating mechanism. You're not just investing; you're actively participating in a system designed to grow your assets through strategic staking and rewards distribution. Note: A minimal portion of these staking rewards is allocated for operational expenses and the continuous improvement of our infrastructure. This fee is vital for maintaining high-performance services and ensuring the security of your assets.

Converting xQI

Note: You will need QI in your wallet to convert and stake it. Make sure to verify the QI token before purchasing it.
  1. 1.
    Open the Vector Finance site
  2. 2.
    Connect your Avalanche-enabled wallet
  3. 3.
    Find the xQI pool
  4. 4.
    Enter how much QI you would like to convert and click "Approve"
  5. 5.
    Approve the conversion in your wallet and click "Convert"
  6. 6.
    Convert your QI by approving the transaction in your wallet
  7. 7.
    Make sure to stake your xQI afterward

Staking xQI

Note: you will need xQI in your wallet to stake it. Make sure to verify the xQI token before purchasing it.
  1. 1.
    Open the Vector Finance site
  2. 2.
    Connect your Avalanche-enabled wallet
  3. 3.
    Find the xQI pool
  4. 4.
    Enter how much xQI you would like to stake
  5. 5.
    Approve the amount to stake in your wallet and then click "Stake"
  6. 6.
    Stake the xQI by approving the transaction in your wallet

Claiming Rewards

If you're in a manual compounding pool, you can claim your xQI staking rewards from the Claim page. There you'll be able to claim the rewards to your wallet, or compound them as you'd like. To claim you'll need to connect your wallet to the site, click "Claim only" or "Compound" and approve the transaction.

xQI Liquidity

Conversion to xQI is permenant. Your QI becomes part of a staking process on Benqi that is designed to be forever. This means once you've converted to xQI, the original QI tokens are staked indefinitely to continue earning rewards and bolstering the Vector ecosystem.

Liquidity Provision on Trader Joe

To facilitate smoother entry and exit from the xQI program, we've ensured there's a designated amount of QI-xQI liquidity available on Trader Joe. This liquidity pool aims to provide users with flexibility and ease when they choose to trade in or out of xQI.

Considerations and Risks

Converting QI to xQI is a lasting decision, entrusting your tokens to Vector Finance’s long-term strategy. Liquidity for xQI on Trader Joe may vary due to market conditions, potentially affecting availability and exchange rates.

Risk Awareness

The xQI program entails risks, including market volatility and liquidity constraints. It's crucial to understand these risks, assess your investment strategy, and consider your risk appetite before converting.Contracts

Contracts