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Rank #20MAICrypto-Backed
MAI (MIMATIC)
Pegged to
USD
Market Cap
$40.00M
24h Volume
$2.00M
Circulating Supply
40.00M MAI
Total Supply
40.00M MAI
Peg Target
USD
Collateral Type
Crypto-Backed
Issuer
QiDAO
Launch Date
01-05-2021
About MAI (MIMATIC)
MAI (formerly MIMATIC) is a decentralised stablecoin from QiDAO that can be minted at 0% interest by depositing various collateral types including yield-bearing tokens, LP tokens, and native assets. QiDAO is notable for its multi-chain deployment spanning 7+ networks, making it one of the most widely available decentralised stablecoins. Users create vaults, deposit collateral, and borrow MAI against it. The protocol's zero-interest model with a 0.5% repayment fee structure is designed to be borrower-friendly.
Pros
- Zero-interest borrowing
- Available on most major chains
- Wide range of accepted collateral
- Borrower-friendly fee structure
Cons
- Can trade below peg in low demand
- Fragmented liquidity across chains
- Small market cap per chain
- Complex multi-chain governance
Key Features
0% interest borrowing
Multi-chain across 7+ networks
Diverse collateral types including LP tokens
Vault-based borrowing system
0.5% repayment fee only
Yield-bearing collateral support
Stablecoin Information
Category
Crypto-BackedCollateral Type
Crypto-BackedIssuer
QiDAO