When I let go of what I am, I become what I might be.
Mai Finance is the frontend / dashboard for the QiDao Protocol: it allows users to connect to the QiDao Protocol via a website.
QiDao is a way for you to hold on to your crypto while still being able to spend its value. It allows you to borrow stablecoins (tokens pegged to $1) at 0% interest, without selling your crypto.
QiDao is a community-run, community-governed protocol. Changes are made through proposals and voted on by holders of the governance token,Qi.
MAI is a stablecoin backed by collateral, and can only be minted with this collateral backing it. MAI is created when users deposit accepted tokens (currently MATIC) as collateral in vaults and in turn receive a loan against that collateral. Users can also mint MAI through Anchor where MAI is minted in exchange for accepted stablecoins. MAI is soft pegged to the USD, meaning that 1 MAI is around 1 USD.
- Hold your crypto while still using its value
- Receive instant 0% interest loans
- Leverage your crypto positions
You can find more on our benefits page.
Anyone can create QiDao vaults and deposit collateral to borrow against. All you will need in order to start is some of the accepted collateral types in your wallet, and some MATIC to cover any transaction fees. More details can be found in our How To Guide.
QiDao is an overcollateralized stablecoin protocol; it is not an algorithmic stablecoin. We took inspiration from different stablecoin protocols as well as our community to help build the superior protocol we have today, combining the best of both worlds.
We are often compared to MakerDao. Though there are some similarities, some of the key differences include that we do not charge interest on loans, we accept a diversity of collateral types (i.e. interest bearing assets), and MAI can be minted on many chains. This substantially reduces the transaction times (under 15 seconds versus around 8 minutes) and fees (less than 1 cent versus $15 or more). Being built across multiple chains, QiDao enables users to make more transactions and interact with the protocol without thinking twice about gas fees.