QiDao and Market Partnership
QiDao and Market.xyz teamed up to launch a new chapter for QiDao. This update introduces a variable rate lending option to QiDao’s core stable asset issuance. The partnership enables short term borrowing of stablecoins at the lowest rates on Polygon. This complements QiDao’s vaults, which offer the best rates for long term stablecoin loans.
The creation of a variable interest rate lending market for MAI provides the following benefits:
- Offers competitive short-term stablecoin loans
- Increases QiDao’s and Market’s TVL
- Combines Market and QiDao development resources
- Allows users to create new MAI stablecoins through borrowing on Market.xyz
- Creates new yield opportunities for vault owners on QiDao
- Adds revenue source for QiDao with interest earned from supplying MAI
- Makes Market a hub for stablecoin market lending
A new, more balanced Market
- Stable Lending: A focused lending market for stable assets.
- Bootstrapping: Select markets will be provided with liquidity from the protocol.
- co-DAO-llaboration: Bootstrapped lending markets launched on Market will be administered by QiDao protocol.
- Market Operations: Qi holders can vote to manage MAI in Market.xyz.
- Staking Revenue: eQi holders will receive fees earned administering the markets.
QiDao snapshot vote:
https://vote.mai.finance/#/proposal/QmSbkF4HGzaZ3zwNRiMQqsb12sqh1dk5FfBF23P1jNJVFZ
Get started using the value of your tokens https://polygon.market.xyz/pool/1!
SOURCE: https://0xlaozi.medium.com/qidao-and-market-partnership-1ea454281c9b
