BENQI USDC Market Utilization Update:
The USDC lending market on BENQI is currently fully utilized. This means that all available USDC in the pool is currently being borrowed, which is a normal and expected dynamic in decentralized money markets. During periods of high borrowing demand, withdrawals may be temporarily limited until liquidity returns to the pool.
We want to emphasize that:
• All funds remain fully accounted for on-chain.
• The protocol is operating as designed.
• BENQI has experienced similar high-utilization periods in the past, and markets have always naturally rebalanced as interest rates adjust and new deposits enter.
What to expect next:
As borrowers repay, positions unwind, liquidations occur, or new USDC is supplied:
• Withdrawal capacity will reopen automatically
• No action is required from depositors holding USDC in the market
We will continue to monitor liquidity conditions and provide updates as the market rebalances.
Thank you for your patience and understanding.
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