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How to mention BENQI(QI) currency to wallet?
With its usage as a governance token and a collateral asset on the BENQI lending platform,QI allows holders to actively participate and leverage their holdings within the Avalanche ecosystem.
Dec 20, 2024 at 05:39 pm
Key Points:
- Understanding BENQI (QI) Currency
- Supported Wallets for QI
- Adding QI to Trust Wallet
- Adding QI to MetaMask Wallet
- Troubleshooting Common Issues
How to Mention BENQI (QI) Currency to Wallet:
- Understand BENQI (QI) Currency:
BENQI (QI) is the native token of the BENQI decentralized lending and borrowing protocol operates on the Avalanche blockchain. It serves as a governance token, enabling holders to participate in decision-making and earn rewards by staking. Supported Wallets for QI:
QI can be stored in several cryptocurrency wallets that support the Avalanche C-Chain network, including:- Trust Wallet
- MetaMask
- Ledger Hardware Wallet
- SafePal Hardware Wallet
Adding QI to Trust Wallet:
- Open the Trust Wallet app and navigate to the "Add Tokens" section.
- Search for "BENQI" and select it from the list.
- Toggle the switch to "Add to Wallet."
- Receive your QI tokens by entering the sending address in the Trust Wallet "Receive" tab.
Adding QI to MetaMask Wallet:
- Install the MetaMask browser extension and create an account.
- Add the Avalanche C-Chain network to your MetaMask wallet using the RPC and Chain ID information provided by the Avalanche team.
- Click on "Add Token" and choose "Custom Token."
- Enter the QI contract address, token symbol (QI), and decimals (18).
- Click "Save."
- Receive your QI tokens by sending them to your MetaMask address displayed in the "Receive" tab.
Troubleshooting Common Issues:
- Ensure you are sending QI to the correct network (Avalanche C-Chain).
- Check if your wallet is compatible with the C-Chain.
- Confirm that the QI token address you use is accurate.
- Verify that your transaction is confirmed on the blockchain explorer.
FAQs:
Q: Where can I buy QI tokens?
A: QI tokens can be purchased on decentralized exchanges (DEXes) such as Trader Joe and Pangolin, which support the Avalanche ecosystem.
Q: What is the staking mechanism for QI?
A: QI holders can stake their tokens on the BENQI platform to earn rewards in the form of additional QI tokens.
Q: Is QI a stablecoin?
A: No, QI is not a stablecoin. Its value fluctuates based on market demand and supply.
Q: What use cases does QI have beyond governance?
A: QI is also used as a collateral asset for borrowing other cryptocurrencies on the BENQI platform.
Q: How can I withdraw QI tokens from my wallet?
A: To withdraw QI tokens, simply send them to the recipient's address from your wallet's "Send" tab.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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