# Qi Glossary

**Mai Finance -** A frontend for the QiDao Protocol‌

**QiDao -** The protocol that enables the minting of MAI stablecoins

**MAI (previously miMatic) –** The stablecoin generated by users of the QiDao Protocol

**Qi (气)-** The governance token for QiDao

**aveQi -** advanced escrowed Qi

**Collateral -** These are any existing digital asset (ie: MATIC) stored in vaults.

**Stablecoin -** A cryptocurrency whose value is stable.

**Vault –** Where users deposit their token collateral and mint MAI.

**Risk parameters –** Levers used by the protocol to maintain the stable value of MAI (i.e. liquidation ratio, debt value, etc.)

**Debt available to borrow (debt ceiling) –** Maximum amount of MAI that can be borrowed from a vault without breaching the liquidity ratio

**Repayment fee -** The fee paid to the treasury when MAI debt is fully or partially repaid

**Liquidation ratio -** This ratio sets the minimum collateral to debt value allowed in vaults. This varies from vault to vault, depending on the underlying. A 150% liquidity ratio means that for every $1-worth of MAI 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.


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