Notifi continues multichain expansion with BENQI on Avalanche
Notifi ventures onto Avalanche for its newest partnership with BENQI, the largest native DeFi protocol on Avalanche by total value locked (TVL).
Avalanche is one of the largest Layer 1 blockchains by transaction volume and TVL, boasting over 500 web3 protocols. As the first dApp on Avalanche to collaborate with Notifi, BENQI will showcase the power of personalized alerts with the Notifi SDK and its seamless integration onto EVM (Ethereum Virtual Machine) protocols.
Notifi Comes to the Avalanche Ecosystem
Founded in 2019, Avalanche is an EVM compatible blockchain with a thriving ecosystem of dApps across DeFi, collectibles, GameFi, and more. Avalanche addresses the blockchain trilemma of scalability, security, and decentralization, and its recent integration with Amazon Web Services has propelled the blockchain into the limelight.
At Notifi, we believe communication in web3 is one of the biggest hurdles the industry faces. From new yield farms and NFT mints, to potential liquidations and staking, users have a lot to keep track of to optimize their crypto experience. Notifi aims to cut through the noise of managing multiple DeFi positions by providing clear, robust web3 alerts to Avalanche users.
Notifi’s SDK gives developers the opportunity to deploy white-labeled notification and communication tooling on top of their protocols to improve engagement and retention. No longer will users have to stay glued to their monitors when their most important notifications are delivered wherever they are.
BENQI x Notifi
As the largest Avalanche-native dApp by TVL, BENQI provides necessary liquid staking and lending market services to users.
Notifi has partnered with BENQI to add web3 alerts to its two flagship apps: Liquid Staking and borrowing / lending on their Algorithmic Liquidity Market. Users can opt in to receive alerts through Email, SMS, and/or Telegram.
Really excited to see Notifi’s integration with the BENQI suite of products. With this integration, users can now manage their DeFi positions with minimal worries. Getting notifications on sAVAX claims and health on active loans is definitely a plus for our users.”- JD Gagnon, Co-founder
Staking App
BENQI is the go-to dApp on Avalanche for liquid staking. Users can stake their AVAX for yield to secure the network and receive tokenized staked AVAX (sAVAX) to use throughout the ecosystem. Because of the required 15 day unstaking cooldown period, users need to manually check back in to BENQI to see when they can withdraw their AVAX when they want to unstake. This is where Notifi can help.
Notifi will provide the following alerts in the staking app:
- BENQI Announcements: allow BENQI users to receive updates, alpha and more, directly from the BENQI team.
- Unstake and Redeem reminders: Alert stakers once the unstake cool down period is complete and they’re able to redeem their sAVAX during the 48 hour redeem window.
- Staking withdrawal confirmation: Confirm with stakers when they have successfully redeemed sAVAX for their AVAX plus rewards.
Borrowing and Lending App
On the borrowing and lending side of the house, Notifi will alert users about their deposits and withdrawals, as well as if their positions are safe. This helps prevent users from continuously checking BENQI and token prices, while staying on top of their DeFi positions. Notifi also gives borrowers peace of mind by sending warnings as borrowers approach potential liquidation.
Notifi will provide the following alerts in the lending app:
- BENQI Announcements: BENQI users receive updates, alpha and more, directly from the BENQI team.
- Loan deposit and withdrawal confirmations: For security, borrowers receive notifications any time tokens are deposited or withdrawn from their vault.
- Loan health alerts: Borrowers receive notifications any time their Health Factor score is below: 2, 1.5, or a custom threshold set by the borrower.
- Liquidation alerts: Borrowers receive notifications when their position is liquidated.
Interested in adding alerts to your project?
Whether you’re building a DeFi protocol, wallet, DAO, marketplace, or next gen gaming dApp, you can seamlessly integrate notifications into your project with our developer friendly SDK. Below are some notifications that developers have enabled:
- Wallet Transactions and Balance Changes
- NFT and Marketplace Auction Alerts
- Multi-Sig Proposal Updates and Signer Reminders
- DAO Proposal Updates
- Staking Reward Reminders and Rate Updates
- Liquidation Alerts and Loan Repayment Reminders
- Price Change Notifications
- Marketing Announcements, and more!
If you or a project you know is interested in adding Notifi alerts — we would love to hear from you!
Learn More 📚
About Avalanche
Avalanche is the future-proof blockchain that’s built to scale. Build anything you want, any way you want on the world’s most developer-friendly Layer 1. It is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
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About BENQI
BENQI is a decentralized finance protocol built on Avalanche. It consists of the BENQI Liquidity Market and BENQI Liquid Staking. The Liquidity Market enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol earn yield, while borrowers are able to borrow in an over-collateralized manner. The Liquid Staking is an Avalanche liquid staking solution that tokenizes staked AVAX. By tokenizing AVAX through liquid staking, users are given the ability to use, swap or collateralize the yield-bearing asset within Decentralized Finance applications.
About Notifi 🐡
Notifi allows for simplified communication across all web3 messaging channels (Discord, Telegram, SMS, Twitter). Designed with simple APIs for easy integration and customizable and advanced features for dApps and web3 applications, Notifi empowers developers and creators to better engage with their users and communities via multichannel communications.
