Proposal details
Project Name
MAI Finance (QiDao Protocol)
Project Type
[ Launching DeFi DApp ]
Proposal Description
[ Mai Finance is an open source and non-custodial stable protocol for borrowing against your cryptoassets. With Mai Finance, users can deposit their crypto and yield bearing assets into vaults and borrow stablecoins (MAI) against them at 0% interest. Currently Mai Finance has around $100M in TVL.
Mai Finance successfully launched on Polygon on May 1st and has become the largest stablecoin protocol in the Polygon ecosystem. We have since launched our vaults on Fantom and Avalanche as well. Mai Finance is one of the best place to borrow stablecoins in DeFi as we do not charge interest for borrowing, and we have a wide range of collaterals to choose from, including interest bearing assets. Thanks to our partnership with Beefy, Mai Finance recently announced compounding Beefy LPs will be added as collateral for MAI. Mai Finance is looking to bring the same lending benefits to users on IoTeX.
Mai Finance has a full-time team of 6. In addition to our full-time team we have a diverse group of talented community members that complete tasks and bounties to help improve the protocol.
Protocol governance is done through community vote. You can follow our current and previous improvement proposals at https://snapshot.org/#/qidao.eth
The grant will be used for:
- User incentives programs
- Any development costs
Milestones
| number | deliverable | duration | funding request |
|---|---|---|---|
| 1.Deploy the bridge hub on IoTeX | Contracts and frontend | one week | $10,000 |
| 2.IoTeX ecosystem partnerships (DEXs, money markets, reserve currencies) | MAI liquidity on IoTeX > 2M | one month | $20,000 |
| 3. Launch vaults | Frontend & contracts | once chainlink is integrated on IoTeX | $20,000 |
Total funds requested
[ $50,000]
About your Team
[ Mai Finance has a full-time team of 5. In addition to our full-time team we have a diverse group of talented community members that complete tasks and bounties to help improve the protocol.]
Links
[Website: mai.finance
Docs: https://docs.mai.finance/
Weekly fundamentals updates and general updates: https://0xlaozi.medium.com/
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