We are thrilled to introduce the BENQI Intent Adapter, a tool that streamlines cross-chain swap capabilities, enabling seamless liquid staking on Avalanche. This powerful adapter provides an efficient solution for staking across multiple chains, including Ethereum, Arbitrum, Scroll, Linea, and more—all from a single interface, while enhancing your cross-chain bridge experience.
Explore the BENQI Intent Adapter and discover how it can transform your cross-chain bridge interactions.
Also, don't forget to visit our Intent Adapter Store, where you can access various adapters designed to facilitate staking, liquidity management, and cross-chain bridge activities on decentralized exchanges (DEXs).
BENQI Liquid Staking Explained
BENQI Liquid Staking operates on Avalanche, a Proof-of-Stake (PoS) network, allowing users to stake AVAX tokens on validator nodes to help secure the network while earning rewards. This system tokenizes AVAX through liquid staking, allowing users to swap, collateralize, or use the yield-bearing asset across D apps
With BENQI Liquid Staking, Avalanche users gain:
The ability to transfer staked AVAX freely within the Avalanche network improves liquidity.
Extra utility for yield-generating assets by utilizing them in DeFi, trading, or as collateral within various financial applications.
The ease of staking AVAX on Avalanche’s Contract Chain (C-Chain) eliminates the need for complex cross-chain swaps or hosting servers.
The sAVAX asset offers developers and users various strategic options, creating endless possibilities within the ecosystem.
The Simplicity of Staking on BENQI
To stake on BENQI, users must be within the Avalanche network and possess AVAX tokens. The process is easy for those already within the ecosystem, but what if you're not? Here's where the cross-chain protocol comes in to help.
If you're not on Avalanche, the usual process to stake AVAX includes:
Swap assets for sAVAX through a cross-chain swap on a DEX.
Optimize the swap fees and reduce slippage by finding an ideal route.
Bridge assets from another chain, like Polygon, to Avalanche, using a cross-chain bridge.
For instance, if you're holding USDT on Polygon, the process would involve:
Swap USDT for USDC on Polygon.
Bridge USDC to Avalanche using a cross-chain bridge.
Swap USDC for AVAX on Avalanche.
Stake AVAX on BENQI to receive sAVAX.
While this process seems simple, it can be time-consuming and expensive. This is where the BENQI Intent Adapter makes a significant difference.
The BENQI Intent Adapter: Simplifying Cross-Chain Staking
The BENQI Intent Adapter eliminates the complications of chain abstraction. Now, you can move assets seamlessly from any chain/token and begin staking on Avalanche—all from a single, intuitive interface. The Intent Adapter allows you to access multiple chains, including Ethereum, Polygon, Arbitrum, BSC, Linea, Base Scroll, and more.
The Intent Adapter simplifies the process by utilizing chain abstraction, automatically selecting the best cross-chain swap route to ensure the lowest fees and most favourable results. Whether you’re staking AVAX on BENQI Avalanche contracts or performing a direct cross-chain swap, the BENQI Intent Adapter enhances your experience.
Optimized Cross-Chain Swaps with Enhanced Returns
With BENQI Intent Adapter, your cross-chain is optimized for the best swap fees and minimal slippage. Thanks to the integration of Nitro carrots, powered by the Nitro bridge, you also receive additional rewards, enhancing your staking and swapping activities. Whether you're on Metamask for a cross-chain swap or using Solana to move assets, this adapter ensures a seamless experience by integrating various cross-chain protocols.
The Router Intent Adapter Store: A Developer's Dream
Our Router Intent Adapter Store is a valuable resource for developers. It features open-source adapters designed to execute user-intended actions on the blockchain, including the cross-chain protocol for staking and liquidity management. Developers can leverage these adapters to transform existing dApps into cross-chain swap solana or create new applications that interact seamlessly across blockchains.
Using chain abstraction techniques, developers can build cross-chain dApps that work across multiple blockchain ecosystems (EVM-based chains like Ethereum and Cosmos-based chains), simplifying the development process and reducing friction for end users.
Future Developments in Cross-Chain Staking and DeFi
The BENQI Intent Adapter is just the beginning. We plan to continue enhancing the ecosystem with more cross-chain bridge options and tools to improve the user experience. We aim to simplify staking, liquidity, and cross-chain swaps, providing users and developers with a frictionless experience across multiple blockchain networks.
For updates and more information, join Discord and stay informed about the latest features. Start your cross-chain staking journey today by visiting the BENQI Router Intent Adapter.
Conclusion: Transforming the Cross-Chain Experience
The BENQI Intent Adapter provides users an efficient way to stake across Avalanche and other networks. Whether you want to use Metamask for a cross-chain swap solana or move assets from Solana, the Intent Adapter ensures your experience is streamlined, cost-effective, and rewarding. By leveraging the power of chain abstraction and the latest cross-chain protocol technologies, we aim to make decentralized finance more accessible than ever.
Start your cross-chain journey today with BENQI and experience the future of DeFi and staking.