BENQI Liquid Staked AVAX (sAVAX) is a tokenized representation of staked AVAX on the Avalanche blockchain. It enables users to earn staking rewards while retaining liquidity for use in decentralized finance (DeFi) applications. sAVAX is minted when AVAX is staked via BENQI Liquid Staking and can be redeemed for AVAX plus accumulated rewards after a 15-day unlock period.
Key Features of BENQI Liquid Staked AVAX
1. Staking and Liquidity
- Users stake AVAX through BENQI Liquid Staking to receive sAVAX tokens.
- sAVAX maintains liquidity, allowing trading, lending, or integration into DeFi protocols.
2. DeFi Integration
Compatible with DeFi platforms like:
- Automated Market Makers (AMMs)
- Lending/borrowing protocols
- Yield aggregators
3. Redemption Process
- sAVAX can be exchanged for AVAX + rewards after the 15-day unlock period.
4. Market Performance
Price correlates with AVAX but may trade at a discount due to:
- Lower liquidity
- Smart contract risks
5. Reward Rate
- Current staking reward rate: 5.55% APY
How to Store BENQI Liquid Staked AVAX (sAVAX)
Step-by-Step Guide:
Setup an EVM-Compatible Wallet
Recommended wallets:- Trust Wallet (Mobile/Chrome extension)
- MetaMask
Acquire AVAX
- Purchase AVAX on exchanges like Binance
- Transfer to your self-custody wallet via Avalanche network
Swap AVAX for sAVAX
- Connect wallet to a supported DEX (e.g., 1inch)
- Swap AVAX → sAVAX using the official contract address
Secure Storage
- sAVAX tokens appear automatically in your connected wallet
- Always verify transaction details on Avalanche Explorer
How to Buy BENQI Liquid Staked AVAX
Purchase Process:
- Select a DEX
Choose Avalanche-supported platforms like Trader Joe or Pangolin. - Prepare Funds
Ensure your wallet holds AVAX for gas fees and swapping. Execute Trade
- Input sAVAX contract address if not listed
- Confirm swap and monitor transaction
👉 Get started with AVAX staking today
FAQ Section
Q: What is the advantage of sAVAX over regular staking?
A: sAVAX provides liquidity—you can use the token in DeFi while earning staking rewards, unlike locked staked AVAX.
Q: How long does redemption take?
A: After initiating redemption, the 15-day unlock period begins before AVAX + rewards are claimable.
Q: Is there smart contract risk?
A: While BENQI audits its contracts, all DeFi protocols carry inherent technical risks.
Q: Can I trade sAVAX immediately after minting?
A: Yes, sAVAX is freely transferable once minted.
Q: What determines sAVAX’s market price?
A: Primarily the AVAX price plus a variable premium/discount based on market liquidity.
Key Takeaways
- sAVAX unlocks liquid staking for AVAX holders
- Enables DeFi participation + staking rewards simultaneously
- Requires 15-day unlock for redemption
- Maintains 5.55% reward rate (subject to change)
For advanced staking strategies:
👉 Explore Avalanche DeFi opportunities