Hubble Exchange Partners with Benqi for Validating the Hubblenet

2 Nov 2023

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Hubble Exchange has strategically chosen BENQI to become one of the first partners to validate the Hubblenet. BENQI is a lending protocol as well as the leading liquid staking protocol on Avalanche; its latest product Ignite focuses on providing an easy and low cost way for developers to launch Avalanche Subnets. BENQI will run three nodes, significantly enhancing the degree of decentralization of the Hubblenet in its early stages.

The Hubblenet will initially launch as a permissioned network, requiring validators to be whitelisted. BENQI’s Ignite offering makes them a perfect fit for this role. Their support ensures robust and efficient validation, creating a secure foundation for the network in its early days.

As the Hubblenet matures, it is designed to become elastic and permissionless, enabling any validator to join in by staking Hubble Exchange tokens and running an Avalanche validator. The transition towards greater decentralization is an essential part of our vision for Hubble Exchange, and we are confident that BENQIi’s expertise will also play a crucial role in this evolution.

“Hubblenet is an exciting leap forward for the industry, bringing hyper efficient on-chain perpetuals to the masses. As ardent supporters of the Avalanche ecosystem, BENQI is honoured to do its part in Hubblenet’s success. I am especially excited for the validator economy of different orderbooks that will emerge as the network matures.”_ — Dan Mgbor, Co-founder

About Benqi

BENQI is a leading DeFi protocol on Avalanche providing users and developers access to capital-efficient DeFi products. It consists of the BENQI Liquidity Market for crypto lending & borrowing and BENQI Liquid Staking, the AVAX liquid staking solution. For more information, visit benqi.fi.

About Hubble Exchange

Hubble Exchange is a trustless and composable trading system for perpetuals, operating on Hubblenet — a specially designed blockchain built exclusively for perpetuals trading. This unique blockchain embeds a fully Decentralized Limit Order Book along with its Matching Engine. By leveraging its own L1, Hubble Exchange offers fully decentralized and lightning fast trade execution at a low cost, enabling trustless trading.