Qi Glossary
Understanding is the key to the doors you never knew existed.
Mai Finance - A frontend for the QiDao stablecoin protocolβ€Œ
QiDao - The protocol that enables the borrowing and governing of MAI stablecoins
miMatic – The stablecoin generated by the QiDao protocol
Qi (ζ°”)- The governance token for QiDao
Escrow Qi (eQi) - Staked Qi that qualifies for voting and earning Qi governance rewards
SuperQI (Qix) - vesting Qi for early backers
Shen - Shen represents the voting power of xQi and Qi tokens as a whole.
Collateral - These are any existing digital asset (ie: MATIC) stored in vaults.
Outstanding miTokens - Number of stablecoins currently in circulation.
Stablecoin - A cryptocurrency that is pegged to a stable asset like the US Dollar
Vault – Where users deposit their token collateral and borrow miMatic
Risk parameters – Levers used by the protocol to maintain the soft peg to the dollar (i.e. Liquidation ratio, debt value, etc.)
Debt available to borrow – Maximum amount of miMatic that can be borrowed from a vault without breaching the liquidity ratio
Closing fee - The fee paid to the treasury when miMatic debt is fully or partially repaid
Liquidation ratio - This ratio sets the minimum collateral to debt value allowed in vaults (currently 150%). A 150% liquidity ratio means that for every $1-worth of miMatic in a vault, users must have at least $1.5-worth of Matic deposited as collateral.
Liquidation - When the collateral to debt ratio in a vault falls below the liquidation ratio, triggering the sale of the underlying collateral.
Last modified 15d ago
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