QiDao protocol (QI) is a decentralized stablecoin protocol on Polygon. Through over-collateralizing assets like MATIC, users can mint (borrow) MAI, the USD pegged stablecoin as liquidity tool. QI is the native governance token of QiDao.
It is self-sustaining, community-governed, and decentralized.
Loans are secured by always having more value locked than the amount of debt given out. Loans are paid out and repaid in MAI (a stablecoin soft pegged to the USD). Components of QiDao include the following:
- Overcollateralized vaults: MAI relies on collateral vaults to back its value. At all times, MAI stablecoins are fully backed by collateral.
- Vault: Where users deposit their token collateral and borrow MAI. Vaults are user managed and controlled.
- Decentralized and user-managed: MAI is built on market incentives and penalties. There is no centralized authority or algorithm controlling the protocol. Only users can control their funds.
Mai Finance is a website (UX/UI) that connects users to the QiDao Protocol, which is where the vaults are created and stablecoins are borrowed.
Polygon (21):
MATIC, WETH, WBTC, LINK, AAVE, CRV, camWMATIC, camWETH, camAAVE, camWBTC, camDAI, BAL, dQUICK, GHST, vGHST, cxETH, cxDOGE, cxADA, FXS, Stake DAO am3CRV, vGHST
Fantom (14):
WETH, yvDAI, yvWFTM, WFTM, WBTC, LINK, SUSHI, AAVE, mooScreamBTC, mooScreamWETH, mooScreamFTM, mooScreamLINK, mooScreamDAI, mooBIFI
Avalanche (2):
mooAaveAVAX, Stake DAO av3CRV
Moonriver (2):
ETH, MOVR
Harmony (2):
ETH, ONE
Gnosis (1):
WETH
