Qi Glossary
Understanding is the key to the doors you never knew existed.
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 (æ°”)- 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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