General
When I let go of what I am, I become what I might be.

What is Mai Finance?

Mai Finance is the frontend / dashboard for the QiDao Protocol: it allows users to connect to the QiDao Protocol via a website.

What is the QiDao Protocol?

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.

How is QiDao governed?

QiDao is a community-run, community-governed protocol. Changes are made through proposals and voted on by holders of the governance token,Qi.

What is MAI (miMatic)?

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.

What are some use cases for QiDao?

    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.

What do I need to use QiDao?

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.

What is the difference between QiDao and other stablecoin protocols?

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, accept a diversity of collateral types (i.e. interest bearing assets), and are built natively on Polygon. 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 on Polygon, QiDao enables users to make more transactions and interact with the protocol more without thinking twice about the price of gas fees.
Last modified 15d ago