QiDao Weekly Updates — Week 40

(01/31–02/06/2022)

Debt ceiling increases:

  • Polygon: Aave: camWMATIC (2.5M MAI), camWETH (2.5M MAI), camWBTC (3M MAI), camAAVE (1M MAI), Stake DAO sdam3CRV (800k MAI), MATIC (500k MAI).
  • Fantom: Yearn Finance FTM (5M MAI), Beefy Finance x Scream: mooScreamFTM (1.5M MAI), mooScreamBTC (2.5M MAI), mooScreamETH (500k MAI), mooScreamLINK (1.5M MAI), mooBIFI (1M MAI), LINK (3M MAI), BTC (500k MAI).

Product Improvements:

  • New Curve Farms for MAI on Fantom and Polygon:

Start farming at https://app.mai.finance/farm on Fantom and Polygon

New Vault Incentives Overview

  • Zap out button inside the vaults to directly withdraw from camTokens to Tokens. This feature does withdraw camTokens from the vault, convert users camTokens to amTokens, withdraw them from mai.finance/yield and then redeem the underlying tokens from aave.com, all in one transaction.

Zap out button

MAI Universe:

https://twitter.com/crodexapp/status/1488170924557938692?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1488170924557938692%7Ctwgr%5Ehb_2_8%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fcrodexapp%2Fstatus%2F1488170924557938692image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fabs.twimg.com252Ferrors252Flogo46x38.png26key3Da19fcc184b9711e1b4764040d3dc5c07

  • Beefy x SpiritSwap x QiDao partnership. Borrow MAI against moobinSPIRIT — SPIRIT LP:

Next-level SPIRIT staking with Beefy

  • New Avalanche Markets:

https://twitter.com/QiDaoProtocol/status/1489706331107827714?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1489706331107827714%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fqidaoprotocol%2Fstatus%2F1489706331107827714image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fabs.twimg.com252Ferrors252Flogo46x38.png26key3Da19fcc184b9711e1b4764040d3dc5c07

- Pangolin Market: Borrow $MAI against $PNG and Staked $PNG.
- Aave ibstables Market: Borrow $MAI against $amDAI, $amUSDT and $amUSDC

  • New Beefy Finance MAI-FTM SpiritSwap Fantom vault:

https://twitter.com/beefyfinance/status/1490007315478573056?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1490007315478573056%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fbeefyfinance%2Fstatus%2F1490007315478573056image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fabs.twimg.com252Ferrors252Flogo46x38.png26key3Da19fcc184b9711e1b4764040d3dc5c07

Governance

  • QIP063: Update Qi Emissions on Polygon:
    Proposal details: Lower QI-MATIC emissions by 25%. End QI-BAL emissions (currently 15k QI / week). Move part of QI-BAL emissions to MAI liquidity on Balancer (increase from 15k QI / week to 20k QI / week)
    Status: Passed
  • QIP064: Add vGHST as Collateral for MAI:
    Proposal details: vGHST is a staked version of GHST that sells frens to buy more GHST. It also accrues deposit fees from Aave through amGHST. Adding it as collateral for MAI would remove the need to choose between staking GHST on Aavegotchi and depositing GHST on QiDao vaults.
    Status: Passed
  • QIP065: Add cxETH as Collateral for MAI:
    Proposal details: Initial vault deposit: $20–25mm of cxETH by CelsiusX to mint MAI. The initial MAI minted will be used to provide MAI liquidity on AMMs.
    Status: Passed
  • QIP066: Add cxDOGE as Collateral for MAI:
    Proposal details: Initial vault deposit: $20–25mm of cxDOGE by CelsiusX to mint MAI. The initial MAI minted will be used to provide MAI liquidity on AMMs
    Status: Passed
  • QIP067: Add cxADA as Collateral for MAI:
    Proposal details: Initial vault deposit: $20–25mm of cxADA by CelsiusX to mint MAI. The initial MAI minted will be used to provide MAI liquidity on AMMs
    Status: Passed

Community and frens:

  • VividMirage joined us as a Telegram community mod.
  • QiDao POGs and Slammers designs for ETH Denver:

https://twitter.com/poapathon/status/1490330945672597513?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1490330945672597513%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fpoapathon%2Fstatus%2F1490330945672597513image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fabs.twimg.com252Ferrors252Flogo46x38.png26key3Da19fcc184b9711e1b4764040d3dc5c07

  • New episode of the Qimpcast: A community-run unofficial podcast covering the latest topics around QiDao.

<iframe src=”https://anchor.fm/qimpcast/embed/episodes/Croissants-Wrapped-In-Alpha-e1dprpi/a-a7b6bnr" height=”102px” width=”400px” frameborder=”0" scrolling=”no”></iframe>

Qi tracker:

  • Amount of Qi staked: 22,616,300 (54%)
  • 15,689 addresses holding Qi.

Upcoming:

  • BSC markets.
  • Arbitrum Launch.
  • Proposal to add G-UNI as collateral for MAI.
  • vGHAST as Collateral for MAI.
  • Bribing page for QI.
  • Cronos, IoTeX Launch — waiting on Chainlink integration.
  • cBridge integration.
  • Liquidity bootstrapping on Zenlink with a bootstrap pool for MAI-USDC.
  • JulCard launch. Spend your $MAI in real life.
  • Official Docs translated to several languages.
  • Meta Sponsorship of ETH Denver

https://twitter.com/EthereumDenver/status/1490015110995324934?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1490015110995324934%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fethereumdenver%2Fstatus%2F1490015110995324934image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fabs.twimg.com252Ferrors252Flogo46x38.png26key3Da19fcc184b9711e1b4764040d3dc5c07

Conversations in the works:

  • Market making for MAI
  • Liquidity incentives to increase demand for MAI
  • Cross chain partnerships with projects on Moonriver, Fantom, Avalanche, Arbitrum, Cronos, Solana, BSC, Aurora, etc.
  • QiDao Pro
  • Building a QiDao automation unit to build automations that will improve the protocol.
  • New amTokens.

Most Recent Fireside Chats and AMAs

You can find them all on our fireside chats on YouTube channel
You can also listen to our fireside chats and AMAs on our podcast channel on Spotify

Community growth

  • Lao Zi Twitter: 6,479 followers (1.2% increase)
  • QiDao Protocol Twitter: 15,492 followers (3.91% increase)
  • Telegram Chat: 1,992 members (1.27% increase)
  • Telegram Announcements: 276 members (16.95% increase)
  • Discord: 8,280 (5.50% increase)
  • Youtube: 385(1.05% increase)

Asks for the the community

  • Join our Space and help the protocol reach 1000 users on Snapshot.org to get a Verified ☑️ Space (94.7% achieved).
  • As we launch on other chains, help spread the word amongst your communities to try out our vaults.
  • Engage in community discussions on Discord.
  • Vote when we have QIPs out.
  • More important than ever are partnerships we can make on other chains — If you think of partnerships that can help please introduce us.

Learn more about QiDao and get involved in the community

Discord
Telegram Chat
Telegram Announcements
Twitter
Docs

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Lao Zi

Lao Zi

When I let go of what I am, I become what I might be