QiDAO aka Mai Finance enables the creation of the MAI stablecoin which is a fully collateralized stablecoin. Like Timeswap, QiDAO is also Polygon’s first DeFi protocol, and MAI(previously miMATIC) is also known as polygon’s native stablecoin, serving as a catalyst for DeFi innovation #onPolygon.

‘Mai Finance is a way for you to keep your crypto and still be able to spend its value. That means you’re able to borrow stablecoins without having to sell your crypto assets and do so at 0% interest.

Anyone can mint MAI stablecoin at 0% APR by depositing collateral into personal vaults and managing it themselves. What differentiates QiDAO from its competitors is the 0% interest for stablecoin borrowers and the wide range of tokens accepted as collateral. QiDAO has $64 million of TVL spread across various different chains.

The range of collateral assets accepted by QiDAO includes Governance Tokens, Liquidity Tokens, Interest bearing tokens, and Vault strategy tokens. This exceeds every collateralized stablecoin out there, making MAI the most decentralized stablecoin in DeFi.

Users pay 0.5% fees while repaying their stablecoin debt.

QiDAO’s mechanism enables many use cases for their users and protocols like

1. Perpetual borrowing without interest
2. Leverage with 0% funding/fees
3. Utility for LP tokens and yield-bearing assets
4. Utility for governance tokens of projects.

Furthermore, Qi DAO plays a crucial role in governing the QiDAO protocol. The $QI is the governance token of the Qi DAO, it generates value from everything in the QiDAO ecosystem.

Timeswap and QiDAO Partnership Evolves

For the uninitiated, Timeswap is the first fully permissionless and oracles AMM-based Money Market protocol. Its three variable AMM X*Y*Z = K enables the creation of pools with any two erc20 tokens.  For example, USDC — MATIC, MAI — MATIC, MAI — QI, etc

Timeswap is like Uniswap, but for lending/borrowing’.

Timeswap loans are fixed maturity, that is lending/borrowing happens for a fixed time duration. Furthermore, Timeswap loans have a fixed interest rate, changing interest rates don’t affect lenders/borrowers on Timeswap. Timeswap loans are non-liquidatable, borrowers don’t get liquidated before pool maturity but their collateral is distributed to lenders and LPs after the maturity date in case they default on their debt.

The Timeswap platform is partnering with QiDAO to launch an MAI—MATIC pool on Polygon mainnet. The pool will have a maturity time of 2 weeks. In addition, lenders of the pool will have to lock MAI for 2 weeks to earn a fixed interest on it, whereas Borrowers will be able to borrow MAI at a fixed interest rate for up to 2 weeks.

Here’s what you can do in the MAI — MATIC pool:

1. Earn fixed interest by lending MAI.
2. Borrow MAI at a fixed interest.
3. Leverage MATIC with no liquidations.
4. Add liquidity to earn transaction fees.

Benefits of using MAI on Timeswap

• Non-liquidatable loans- Timeswap borrowers, on the other hand, are not liquidated, instead, borrowers have to repay their debt before maturity or their collateral is distributed to lenders / LPs.
• Adjustable APR and Collateral Ratio- gives lenders/borrowers a unique customization option that can be used to adjust your APR and CDP(collateral ratio). This allows you to customize your risk profile.
• Market-driven Collateral ratio(CDP)- Collateral Ratio while borrowing on other DeFi protocols is decided either by a centralized entity or through DAO governance. If more lending happens, CDP goes down. Whereas more borrowing demand leads to high CDP. This enables you to get cheaper loans and leverage higher.
• Liquidity Providers – LPs act as a counterparty to both lenders and borrowers, hence they lock both Asset(MAI) and Collateral(MATIC) in the pool. In return, they earn 1.25% APR as a fee from both Lenders and Borrowers. They bear the risk of impermanent loss and default risk.

Timeswap V2 Coming Soon

Currently, Timeswap is building V2 of its Time machine which brings some new features making Timeswap 4–5x capital efficient.

Here are some of the most important V2 features

• Anytime entry-exit for lenders/LPs
• 4x-5x more capital efficient than V1
• Bi-directional pools
• Single sided liquidity

ABOUT Timeswap

Timeswap is the world’s first fully decentralized AMM-based money market protocol which is self-sufficient, non-custodial, gas efficient, and works without the need of oracles or liquidators. It provides flexibility to the end-user by allowing the user to decide their risk profile and accordingly set the interest rates & collateral for each lending or borrowing transaction. It is brutally minimalistic, gas-efficient, and permission-less allowing anybody to create a money market for any ERC-20 tokens.

Website | Twitter

ABOUT QiDAO Protocol

Mai Finance is an open-source and non-custodial stable protocol for extracting value out of priced assets.

Website | Twitter

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TIME Square will be on TIME’s land in The Sandbox as a destination for convening, art and commerce, inspired by the visual spirit and energy of the iconic neighborhood in New York City.

Why TIME?

TIME President Keith A. Grossman revealed the partnership during The Sandbox event at NFT.NYCnyc, while also issuing an open call for architects to design TIME Square, reimagining the world-renowned cultural center for the metaverse. TIMEPieces is turning to its vibrant community and metaverse enthusiasts worldwide to identify a visionary architect to recreate and reimagine the destination as a voxel creation.

What is TIME Square?

TIME Square will be an inclusive environment that will provide unique experiences to TIMEPieces holders. TIME Partners with The Sandbox, so the destination will serve the TIMEPieces community. By providing virtual access to discussions, events, screenings of TIME Studios projects and educational experiences.

COO and Co-Founder of The Sandbox About Partnership 

“The Sandbox is often viewed as a ‘virtual Manhattan’, a vibrant space alive with culture, entertainment, and brands, where anyone can discover, learn, work, meet new people, play, dance, and find amazing new opportunities,” said Sebastien Borget, COO and Co-Founder of The Sandbox. “By partnering with TIME, we’re adding TIMEPieces as the beating heart and soul of this virtual Manhattan, where a design call for virtual architects will be held in TIME Square, a place in our creative metaverse for brands and creators.”

About TIME

TIME is News and current events provider from around the globe.

TIMEPieces is a Web3 community initiative from TIME. The Genesis Collection launched in September, 2021, with Build a Better Future. It included works from over 40 incredible, global artists spanning multiple disciplines. TIMEPieces followed with a second collection called Long Neckie Women of the Year by Artist in Residence, Nyla Hayes.

TIMEPieces represents an important first step in TIME’s Web3 community strategy, enabling us to bring together artists, collectors and fans in a collaborative manner with the goal of building utility and community value over the long-term.

Website | Twitter

About The Sandbox

The Sandbox is a decentralized, community driven platform. There creators can make voxel assets and gaming experiences and monetize them on the blockchain. It features 3 main components: NFT builder, a Marketplace and Game Maker.

Website | Twitter

SOURCE:

https://sandboxgame.medium.com/time-is-partering-with-the-sandbox-to-build-time-square-in-the-metaverse-6cd361e3e5f0

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Partnership HighLights

The Sandbox partnership with TimePieces, the NFT community initiative from TIME, announced a partnership to develop ‘TIME Square’, TIME’s first-ever destination in the metaverse.

Moreover, TIME Square is gonna be build on TIME’s land in The Sandbox as a destination for convening, art and commerce. Indeed, inspired by the visual spirit and energy of the iconic neighborhood in New York City.

Management Quotes

TIME President Keith A. Grossman revealed the partnership during The Sandbox event at NFT.NYCnyc, while also issuing an open call for architects to design TIME Square, reimagining the world-renowned cultural center for the metaverse. Furthermore, TIMEPieces is turning to its vibrant community and metaverse enthusiasts worldwide to identify a visionary architect to recreate and reimagine the destination as a voxel creation.

“Our goal is to create a destination that will be the heart of the metaverse,” said Keith A. Grossman, TIME President. “Since launching TIMEPieces in September 2021, we have focused on developing a community in Web3 that benefited from the incredible 100- year legacy and access TIME has established. We are thrill to now tap into that community as we seek to find the architect to design TIME Square in the metaverse. As we create an immersive experience with The Sandbox that provides a natural bridge between the virtual community of TIMEPieces. The historical coverage and global relationships of TIME, the unique IP coming from TIME Studios, TIME for Kids, and our real-lifeIRL events.”

However, TIME Square will be an inclusive environment that will provide unique experiences to TIMEPieces holders. While, the destination will serve the TIMEPieces community by providing virtual access to discussions, events, screenings of TIME Studios projects and educational experiences.

“The Sandbox is often view as a ‘virtual Manhattan’, a vibrant space alive with culture, entertainment, and brands, where anyone can discover, learn, work, meet new people, play, dance, and find amazing new opportunities,” said Sebastien Borget, COO and Co-Founder of The Sandbox. “By partnering with TIME, we’re adding TIMEPieces as the beating heart and soul of this virtual Manhattan, where a design call for virtual architects will be held in TIME Square, a place in our creative metaverse for brands and creators.”

About The SandBox

The Sandbox is a virtual gaming world where players can build, own, and monetize their gaming experiences.

Website | Twitter

About TIMEPieces

TIMEPieces is a NFT community initiative inclusive of four collections to date: Genesis, Inspiration, Long Neckie Women of the Year, Slices of TIME, and the newly announced, Beatclub Collection.

Website | Twitter

SOURCE

https://sandboxgame.medium.com/time-is-partering-with-the-sandbox-to-build-time-square-in-the-metaverse-6cd361e3e5f0

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