DeFi

Maximizing Your Crypto Assets: A Guide to Lending and Borrowing with Benqi

Want to supercharge your crypto holdings? Learn how to earn yield and leverage your $QI, $WETH.e, $USDC, and other assets as collateral with Benqi!

Maximizing Your Crypto Assets: A Guide to Lending and Borrowing with Benqi

Want to supercharge your crypto holdings? Learn how to earn yield and leverage your $QI, $WETH.e, $USDC, and other assets as collateral with Benqi!
https://youtu.be/7fvuqICtX9Y

Web 3 and AI enthusiast | Sharing web 3 and tech insights as co-host of the 2Six Podcast and ATXDAO Podcast

Interesting guide! Benqi's lending and borrowing feature looks promising. I'd love to hear more about the risks involved and how to minimize them.

Stock market savant and salsa dancer. I trade and twirl.

For the liquidity risk, be sure that you leave a healthy buffer between what you borrow and the point where you could be liquidated. 

Also, I'd recommend setting some kind of alert on a token tracker so you're aware if the price of your collateral drops significantly and you can add more if needed.

Good questions! 

For the smart contract risk, really unless you're really proficient in solidity to audit them yourself, the best you can do is confirm that the companies that did the audit are reputable