Benqi Finance, an Avalanche liquidity market protocol, announced the launch of its AVAX liquid staking on Twitter yesterday. The protocol enables users to stake AVAX to receive sAVAX, an interest-bearing version of Avalanche's native token.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.
Avalanche’s AVAX has lost 2% of its value in the past 24 hours and is currently trading at $93 per coin.