How does Mai Finance work?

Mai Finance is the frontend for the QiDao Protocol, a decentralized platform that allows users to mint MAI, a stablecoin pegged to the U.S. dollar, by depositing approved crypto assets as collateral. Users can borrow MAI at 0% interest, with a one-time repayment fee, enabling them to access liquidity without selling their assets. The system maintains MAI's peg through over-collateralization, interest rate adjustments, and a Peg Stability Module.

Is Mai Finance a secure project?

Mai Finance emphasizes user control, ensuring that all funds are managed by the users themselves, with the protocol not having access to user funds or MAI debt. The QiDao Protocol has undergone audits by Bramah Systems and Cloakwire, and it employs a timelock system for governance changes to enhance security. Additionally, the protocol uses Chainlink price feeds to protect against oracle manipulation.

How to use Mai Finance?

To use Mai Finance, connect your crypto wallet to the platform and select a supported collateral asset to deposit into a vault. Once deposited, you can mint MAI stablecoins against your collateral, which can be used across various DeFi platforms. Users can also stake Qi tokens or participate in the aveQI system to earn rewards and engage in governance.

What services does Mai Finance offer?

Mai Finance offers zero-interest loans through overcollateralized vaults, allowing users to mint MAI stablecoins. It provides multi-chain support, enabling operations across various EVM-compatible blockchains. The platform also offers staking opportunities with Qi and aveQI tokens, granting users governance rights and a share in protocol revenues.

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FAQ

How does Mai Finance work?
Mai Finance is the frontend for the QiDao Protocol, a decentralized platform that allows users to mint MAI, a stablecoin pegged to the U.S. dollar, by depositing approved crypto assets as collateral. Users can borrow MAI at 0% interest, with a one-time repayment fee, enabling them to access liquidity without selling their assets. The system maintains MAI's peg through over-collateralization, interest rate adjustments, and a Peg Stability Module.
Is Mai Finance a secure project?
Mai Finance emphasizes user control, ensuring that all funds are managed by the users themselves, with the protocol not having access to user funds or MAI debt. The QiDao Protocol has undergone audits by Bramah Systems and Cloakwire, and it employs a timelock system for governance changes to enhance security. Additionally, the protocol uses Chainlink price feeds to protect against oracle manipulation.
How to use Mai Finance?
To use Mai Finance, connect your crypto wallet to the platform and select a supported collateral asset to deposit into a vault. Once deposited, you can mint MAI stablecoins against your collateral, which can be used across various DeFi platforms. Users can also stake Qi tokens or participate in the aveQI system to earn rewards and engage in governance.
What services does Mai Finance offer?
Mai Finance offers zero-interest loans through overcollateralized vaults, allowing users to mint MAI stablecoins. It provides multi-chain support, enabling operations across various EVM-compatible blockchains. The platform also offers staking opportunities with Qi and aveQI tokens, granting users governance rights and a share in protocol revenues.

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