Highlights of the week
QiDao Weekly Updates — Week 41
(02/07–02/13/2022)
Debt ceiling increases:
- Polygon: Aave: camAAVE (2M MAI), camWMATIC (2M MAI), camWETH (1M MAI).
- Fantom: Yearn Finance FTM (2M MAI), LINK (1M MAI). Beefy Finance x Scream: mooScreamBTC (1M MAI).
Product Improvements:
- MAI reached 100 Defi Apps by TVL
- QiDao Launching on Gnosis Chain:
- New Stake DAO av3CRV Strategy vaults on Avalanche.
Superfluid exploit — #QimpsTogetherStrong:
On February 8, 2022, an attacker exploited Superfluid’s vesting contract. The hacker managed to seize and sell in the market several tokens, namely QI. The $QI stolen was vested $QI allocated to the team and early contributors.
All funds on QiDao are safe. No user funds were affected. The exploit is within Superfluid and did not affect QiDao vaults or masterchefs.
The team mission is unchanged and morale is strong. Thanks to our dedicated Qimp community and greater DeFi ecosystem for their immediate response and incredible support. A QIP will be posted soon to address this event.
MAI Universe:
- MAI is now available on Aurora:
- New LiquidDriver $MAI-$FTM SpiritSwap pool.
- Beefy Finance $MAI-$FTM SpiritSwap vault boosted:
Governance
- 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 - QIP068: Lower min CDR for Stake DAO’s USD Strategy to 110%:
Proposal details: This proposal is to lower the minimum collateral to debt ratio (CDR) for Stake DAO’s USD strategy to 110%. This would bring it in line with Yearn vault DAI.
Status: Passed - QIP069: Round 3 of Vault Incentives Gauge:
Proposal details: Vault incentives are allocated a total of 0.65 Qi per block (around 180k Qi per week). Following QIP047, the distribution of these rewards among vault types will be decided every two weeks by the DAO.
Status:
Community and frens:
- VividMirage joined us as a Telegram community mod.
- Thread by the user Drake on Digital about Mai Finance:
- The user @Aavechan shared on Twitter their #FrenchChart on How to get paid to pay rent with crypto Vol II, featuring MAI and QI:
- On the international, the Journal du Coin published a video by the French youtuber @CFarmeur:
Qi tracker:
- Amount of Qi staked: 33,004,564 (53.22%)
- 16,634 addresses holding Qi.
Upcoming:
- BSC markets.
- Arbitrum Launch.
- Proposal to add G-UNI as collateral for MAI.
- Proposal to distribute interest revenue from market operations.
- 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.
- Replenishments updates on Discord and Twitter.
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
- Fireside Chat with CelsiusX:
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 on Spotify
Community growth
- Lao Zi Twitter: 6,620 followers (2.18% increase)
- QiDao Protocol Twitter: 16,234 followers (4.79% increase)
- Telegram Chat: 2,075 members (4.01% increase)
- Telegram Announcements: 293 members (6.16% increase)
- Discord: 8,656 (4.54% increase)
- Youtube: 396 (2.86% increase)
Asks for the the community
- 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
