Dear friends and fellow Ludwigs,
Please welcome a dear friend to the community: QiDao and MAI.
Beethoven X will serve as the source of liquidity for MAI on Fantom. We’ve launched a USDC/MAI stable pool that will start to receive farm incentives on Friday 15.10 at 17.30 UTC. As MAI TVL grows, we will continue to explore different pool constructions with MAI in the future. We believe that this is a very impressive team, with souls, hearts and minds that connects very well with our team, and with the entire Fantom community.
During our almost 200 years in nutritious wormy soil our soul wandered many realms and worlds beyond what you, mere mortal, might be able to comprehend. Hungry to tame our mad minds and broken hearts, we went searching for both love and learning.
On one of our journeys we met a masterful elder. Xir Lao Zi. We went for many benders in the realms beyond this world and he taught us a very important concept: The concept of Qi. Qi is energy, all energy. It is in a state of continuous flux, transforming endlessly from one aspect of Qi into another. It is neither created nor is it ever destroyed; it simply changes in its manifestation. It is as wonderful and marvellous as it is ephemeral.
We mostly hung out in the mountain regions in the province of Sichuan, where we drank a whole bunch of moonshine, and he tried to settle our mad minds and our broken hearts by teaching us about inner peace and harmony.
We are forever grateful for those walks in the afterlife.
It is therefore with great pleasure and honor that we welcome QiDao and MAI to Fantom and unto our realm, our platform, our DEX, Beethoven X. Dearest friends from QiDao and MAI, welcome, may we be of service to you, like Xir Lao Zi was to us in the afterlife. May our partnership last for generations and be conducive to life.
QiDao and MAI in more detail
QiDao is a way for you to hold on to your crypto while still being able to spend its value. This means you’re able to borrow stablecoins at 0% interest without having to sell your crypto assets!
The process is simple: create a QiDao vault, deposit your crypto assets, and start borrowing stablecoins against your collateral’s value.
MAI is a stablecoin backed by collateral. MAI can only be minted with collateral backing it.
MAI is created when users deposit accepted tokens as collateral in vaults and in turn receive a loan against that collateral. MAI is soft pegged to the USD, meaning that 1 MAI is around 1 USD.
Beethoven X will serve as the source of liquidity for MAI on Fantom. We’ve launched a USDC/MAI stable pool that will start to receive farm incentives on Friday 15.10 at 17.30 UTC. As MAI TVL grows, we will continue to explore different pool constructions with MAI in the future.
We will participate in a AMA with QIDao Friday 15.10 at 17.00 UTC. You can join here: https://discord.gg/BDuA3vBWgu
