Official Mai Finance Documentation

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The Dao is like a well: used but never used up. It is like the eternal void: filled with infinite possibilities.

Zero-interest crypto lending - making DeFi accessible for all
Mai Finance is a way for you to keep your crypto and still be able to spend its value. That means you're able to borrow stablecoins without having to sell your crypto assets, and do so at 0% interest.
The process is simple: create a vault, deposit your crypto assets, and start borrowing stablecoins against your collateral’s value.
Mai Finance is a website that connects users to the QiDao Protocol, which is where the vaults are created and stablecoins are borrowed.
Example: 
Elon has a small business. His business has 100,000 MATIC tokens as assets. Unfortunately, Elon’s laptop suddenly stopped working, and he will now need a new one. The dilemma that Elon has now is whether to sell his MATIC to buy his new laptop or keep his MATIC because he is bullish about its long term potential to be worth more. QiDao doesn't want you to have to choose. By using QiDao, Elon can deposit his 100,000 Matic in a vault and borrow stablecoins against that collateral to purchase his new Macbook Pro. Elon gets his new computer and gets to keep all of his MATIC. So, if MATIC prices increase next week, Elon will still be able to realize those gains. Meanwhile, the stablecoins Elon took out against his collateral can be paid back at any time and do not incur any interest. 

QiDao is Polygon's first native stablecoin protocol. 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.
Two tokens: MAI is the stablecoin made by the QiDao Protocol and Qi is the protocol’s governance token.
QiDao aims to provide an easy-to-use DeFi protocol which lowers the threshold to participating in decentralized finance. We want to make the crypto-economy transparent, accessible, easy to understand, and inclusive for everyone around the world. We are and will continue to develop features and services that give our users more freedom and control over their crypto than currently available.
Stablecoins and lending are the building blocks for the decentralized financial services ecosystem. Our hope is to make a stablecoin, MAI, that can help any crypto community member use their tokens as collateral, serving as a catalyst for DeFi innovation on Polygon.
✨ Interested in having your Tokens used as collateral or collaborating? Reach out to us here✨

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Zero-interest crypto lending - making DeFi accessible for all

✨ Interested in having your Tokens used as collateral or collaborating? Reach out to us here✨