Mai Finance Code Review
TM Rating – 80%
Review Date: November 6th, 2021
Mai Finance is a DeFi interface that provides a way for you to keep your crypto and still be able to spend its value. That means you are able to borrow stablecoins without having to sell your crypto assets, and do so at 0% interest. The process is simple: create a vault, deposit your crypto assets, and start borrowing stablecoins against your collateral’s value. Mai Finance is a website that connects users to the QiDao Protocol, which is where the vaults are created and stablecoins are borrowed. QiDao aims to provide an easy-to-use DeFi protocol which lowers the threshold to participating in decentralized ﬁnance, by making the crypto-economy transparent, accessible, easy to understand, and inclusive for everyone. With stablecoins and lending being the building blocks for the decentralized ﬁnancial services ecosystem, MAI is a stablecoin that can help any crypto community member use their tokens as collateral, serving as a catalyst for DeFi innovation on Polygon.
QiDao enables users to be their own banks. Taking advantage of 0% interest leverage, you can sell your MAI to buy more of your collateral tokens, levering your long positions. The QiDao Protocol does not charge interest fees, only a repayment fee at time of closing. This means that collateral token holders can maintain a levered long position in their collateral with minimal ﬁnancial stress, focusing on their principle belief that their collateral’s price will increase. Another use case could be to borrow to buy other assets and expand your investment portfolio. You could, for example, borrow MAI to buy other tokens such as ETH to hedge your Matic exposure. It is important to note that the protocol is built with two tokens around: MAI which is the stablecoin made by the QiDao Protocol and Qi which is the protocol’s governance token. Qi is available to trade on Polygon’s DEX Quickswap.
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|seed investment price|
current market cap
N/A ($125M FDV)
|projects in the ecosystem||MakerDAO|