BENQI sAVAX Delegations
Delegated by BENQI‌
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Active delegations‌
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Validators‌
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Share of delegated AVAX‌
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sAVAX backing

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Pooled AVAX (contract)‌
Assets found on chain‌
Difference‌
Exchange rate‌
sAVAX supply‌
Pending unlock‌
Delegated to validators‌‌
BENQI-funded and Ignite self-stake‌‌
Idle on P-Chain‌‌
On C-Chain‌‌
Pending rewards‌‌

Open Pool and Miles Pool

Open Pool‌ “Available to BENQI-selected validators that meet enhanced performance and infrastructure requirements”BENQI Governance docs, updated 3 Mar 2026 (opens in a new tab) · BENQI on X, 11 Oct 2026 (opens in a new tab)Last 90 days‌Active now‌
Part of the Open Pool: of which BENQI-funded validatorsOpen Pool stake delegated to validators funded by BENQI.Last 90 days‌Active now‌
Miles Pool‌ “randomly distributed based on the validator's aggregate vote count of BENQI Miles”BENQI Delegation Pools docs (opens in a new tab)Last 90 days‌Active now‌
Open Pool of which third-party validators (2%) of which BENQI-funded validators Miles Pool (~5%)
Active now (AVAX)‌‌‌‌‌‌‌‌
Started in the last 90 days (AVAX)‌‌‌‌‌‌‌‌
Open Pool validators stake at least 6,000 AVAX, Miles Pool validators at least 2,000 AVAX. BENQI Delegation Pools docs (opens in a new tab)

Where BENQI's stake goes, day by day

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Started in the range‌
BENQI-funded‌
Open Pool (2%)‌
Miles Pool (~5%)‌

Native delegation vs BENQI

Native delegation (2% validator)‌
At least 25 AVAX, locked for 2 weeks to 1 year. You pick the validator and renew.
Through BENQI (sAVAX)‌
No practical minimum, liquid and usable in DeFi. Unstaking has a 15-day cooldown. BENQI picks the validators.
sAVAX holders keep‌

Where the difference comes from

Protocol share‌
Higher fees on Miles Pool validators‌
Saving on BENQI-funded validators‌
Extra cost vs native delegation‌
Where 100 AVAX of rewards go
Native delegation (2% validator)
Through BENQI (sAVAX)
Each dot is about 1 AVAX.

Validators

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Validator
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