Borrowing Incentives

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QiDao rewards users for borrowing MAI against their cryptoassets.

What are borrowing incentives?
Borrow incentives are rewarded to vaults that have a MAI debt balance and maintain a healthy CDR. A healthy CDR is defined as 25% to 270% above the liquidation ratio.
Borrow incentives are allocated a total of 0.65 Qi per block (around 180k Qi per week). Following QIP047, the distribution of these rewards among vault types will be decided every two weeks by the DAO. Qi holders have the option of allocating a percentage of the rewards to various collateral types. The aggregate distribution from all user responses would be used to award Qi to each collateral type.
For example, a vault with a liquidation ratio of 130% would need to stay between a CDR of 155% and 400% in order to receive vault incentives.
What are vault types?
Vault types refer to what collateral is being used to back MAI. Borrowing on QiDao is separated by the collateral that MAI is borrowed against. 
For example, WETH-backed loans are made through WETH vaults and WBTC-backed loans are made through WBTC vaults. 
How much will I receive for borrowing MAI?
Your share of borrowing incentives is decided based on the proportion of MAI you've borrowed from a vault type compared to all the MAI borrowed from that vault type. For example, let's say you borrowed 100 MAI against WETH, and there is a total of 1000 MAI backed by WETH on QiDao. You will receive 10% of all borrowing incentives (100 MAI / 1000 MAI = 10%).
How are rewards distributed?
Borrowing incentives are distributed weekly by Friday for the previous week's borrowing activity. Rewards are airdropped to users' addresses.
How can I calculate my APR?
Follow the equation below to calculate your borrow incentives APR per vault:
APR = (Weekly Qi received  *  Qi Price  *  52) / MAI borrowed
Jane received 100 Qi in a week for borrowing 1000 MAI. Assuming $1 Qi price, her APR would be the following:
100 * 1 * 52 / 1000 = 520% APR

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Outline

What are borrowing incentives?

What are vault types?

How much will I receive for borrowing MAI?

How are rewards distributed?

How can I calculate my APR?