AlgebraDex New Farming Event With Rewards in MAI
AlgebraDex New Farming Event:
Mai Finance is the exceptional frontend for the QiDao Protocol which allows users to borrow stablecoins at 0% interest, without selling their crypto. Anyways, here’s the yummiest part:
- Farming Pair: QI / WMATIC
- Approximate APR: 127%
- Total rewards: $2,500 in MAI
- Duration: May 12th — May 19th
- Maximum Pool Size: $100,000
The rewards will be distributed among all participants in MAI tokens. Don’t forget to provide liquidity to Qi/WMATIC pair and enter farming between May 9th, 18:00 UTC — May 12th, 22:00 UTC!
After May 12th, the pool will be filled out, and no further users will be able to join this farm, so add liquidity to the pool in advance, so as not to miss out! Learn how to do it in our ‘How to Add Liquidity on Algebra’ guide.
Don’t forget that WMATIC and MATIC make no difference: If you have WMATIC and want to participate in farming with MATIC, no problems: Algebra counts WMATIC and MATIC as exactly the same thing.
MAI & QiDAO: Opportunities Never End
Aren’t you familiar with the QiDAO ecosystem? Let’s dig in and outline its four pillars: QiDAO, Mai Finance, and QI & MAI tokens.
Mai Finance is one more outstanding project built on the Polygon network. Basically, this is the website that helps you connect to the QiDao Protocol. What is QiDAO then? Qi DAO is a Polygon-native lending protocol that lets users draw interest-free loans against accepted tokens used as collateral. With QiDAO, you can hold on to your crypto while still being able to spend its value and borrow stablecoins without having to sell your crypto assets.
QiDAO pays out loans in MAI, which is a stablecoin created when users deposit MATIC as collateral and in turn receive a loan against that collateral. MAI is soft-pegged to the USD, meaning that 1 MAI is around 1 USD. The token associated with the QiDao community is Qi.
Increase Liquidity with Multi-Level Farming
With our new Multi-Level Farming mechanics, we’re excited to introduce exclusive farming conditions for $QI holders!
- If you lock up $200 in $QI, you will get +2% to your liquidity!
- If you lock up $600 in $QI, you will get +5% to your liquidity!
- If you lock up $1,600 in $QI, you will get +10% to your liquidity!
If you’re not in the loop yet, learn more about our multi-level farming approach in detail here. Anyways, let’s quickly recall how it works.
- When you enter a farming event, you will be able to choose a tier and get additional profit by taking part in farming.
- There are 3 tiers: Bachelor, Master, and Professor. Each tier brings in an extra coefficient which will multiply the amount of liquidity you provide. In the end, you will get even bigger returns distributed in $MAI!
- What you need to do is to buy or hold a certain amount of $QI tokens: for $200, $600, $1,600. If you already have some $QI, that’s awesome! Just lock the required amount of $QI during the farming event and enjoy the increased liquidity after farming finishes.
- If you don’t want to harness multi-farming, you’re free to skip this option.
Just imagine how lucrative farming will be if you choose “Professor” and get +10% additionally to the approximate APR.
Don’t Miss Your Chance
QiDAO and Mai Finance are forward-looking projects promising a lot for the future. Don’t miss a chance to get rewarded in prospective MAI tokens and make profit!
About Algebra
ALGEBRA is a decentralized exchange with adaptive fees, built-in farming and more with support for deflationary tokens. The new DEX is a multi-purpose solution that works with existing DeFi instruments and provides its users the maximum functionality of all similar services on the market.
Source:
https://medium.com/@crypto_algebra/new-algebra-farming-collab-with-rewards-in-mai-fa91c4dbe4de
