QiDAO is a decentralized lending protocol that lets anyone mint or redeem the MAI stablecoin by depositing crypto assets as collateral. It is a fork of Maker on the Polygon network.
Mai is a decentralized borrowing protocol that allows borrowers to draw loans against crypto assets like ETH as collateral. Loans are paid out in MAI, a USD pegged stablecoin with a collateralization ratio of at least 110%. The MAI peg is further supported by the Anchor peg stability module. Anchor allows users to swap USD stablecoins for MAI at a 1:1 rate.
Mai charges users a 0.5% repayment fee on their stablecoin debt when repaid to unlock the underlying collateral. This fee is paid in the same collateral asset with 70% distributed to the protocol treasury. A 0.5% deposit fee is collected when users deposit their liquidity provider (LP) tokens to participate in yield farming rewards; this fee is paid in the LP token. The protocol's Direct Deposit Module (DDM) supplies protocol-controlled MAI directly into external money markets to earn additional interest with 50% distributed back to the DAO treasury. Lastly, the Anchor module charges a 1% fee when minting and redeeming MAI with stablecoins. The platform does not charge any interest fees for minting MAI through its own vaults.
You can generate yield by staking the QI governance token to receive eQI (escrow QI) proportional to the total amount locked up and the duration chosen. QI stakers earn 30% of repayment fees, 100% of deposit fees, 30% of Anchor fees, and 50% of DDM revenue. Rewards are collected weekly and distributed on the following Wednesday.