General Introduction

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 an overcollateralized stablecoin protocol that allows users to mint stablecoins against the value of their decentralized token collaterals. Minting occurs through loans, denomimated in stablecoins.

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?

MAI is a USD stablecoin backed solely by decentralized tokens. Its target peg is 1% within the US Dollar. MAI can only be minted by users through overcollateralized debt positions.

MAI is a decentralized stablecoin and cannot be manipulated by centralized entities.

What are some use cases for QiDao?

• Keep your crypto while still using its value

• Receive instant loans with no tenor

• Leverage your crypto positions

• Seek extra yield from collateral tokens

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.

What sets MAI apart from other decentralized stablecoins is that it is native to every chain that it is on. This means that it is created by collateral deposited directly on the chain where it is used. This is in contrast to other decentralized stablecoins, which are first minted on one chain and then bridged over to different chains. Being native to each chain brings far more value to each ecosystem due to increase use case for native assets as well as no bridge risk associated with the minting and burning of the token.

MAI was the first crosschain fungible token, allowing for full interpretability between CDPs on various chains. This bridging architecture is currently paused.