Borrow MAI to Supercharge Your DeFi Yields: Overview & Launch of MAI-4Pool Farm

4 min readJun 21, 2022

We’re excited to be the first protocol on Polkadot and Moonbeam to welcome Qidao into the ecosystem with the launch of their stablecoin, MAI. StellaSwap users would be able to supercharge their DeFi yields and optimize their capital efficiency!

We have streamlined the entire MAI minting process by allowing users to mint/borrow MAI directly on StellaSwap, without even needing to go to Qidao’s application.

Start Minting MAI Now > https://app.stellaswap.com/mai

What is MAI?

MAI is the brainchild of Qidao protocol, representing a stablecoin backed by collateral, and can only be minted with collateral backing it. MAI is created when users deposit accepted tokens (currently WGLMR & xSTELLA) 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.

How Do I Mint/Borrow MAI?

It is a simple 4-step process;

Step 1: Select the asset you’re keen on depositing & create a vault

Step 2: Deposit the asset of choice (xSTELLA or WGLMR) into the newly-created vault

Step 3: Borrow MAI stablecoin

Step 4: Stake your MAI into the MAI<>4Pool farm to earn yields

Here’s a full-guide for minting MAI on StellaSwap: https://docs.stellaswap.com/resources/how-to-guides/mint-mai

How Much Can I Borrow?

The xSTELLA and WGLMR vaults on Stellaswap have a 40% Loan To Value (LTV). That’s equivalent to a 250% minimum Collateral to Debt Ratio (CDR).

xSTELLA and WGLMR is currently the only assets available as collaterals

This determines the maximum amount you can borrow. If the LTV is 40%, you can borrow $40 worth of MAI for a total collateral value of $100.

MAI <> Basepool is Live!

StellaSwap is one of the first DEXs with a hybrid AMM structure that consists of both a standard AMM (like Uniswap) and a stable AMM (like Curve) all in one place. We recently launched of our basepool — called 4Pool — that consists of the 4 prominent stablecoins: USDC, USDCT, DAI and FRAX. Users can trade stablecoins in an ultra-low slippage environment and provide liquidity to earn risk-free rewards, as there is no impermanent loss.

We decided to launch the first metapool under our stable AMM, pairing MAI with our highly popular 4Pool for the deepest stablecoin liquidity on Moonbeam.

MAI Farm Details

💱 AMM: Stable AMM

🚜 Farm: MAI <> 4Pool (USDC, USDCT, DAI, FRAX)

💰 Staking Rewards: STELLA

🕒 Status: Live!

🎓 Staking Guide: Guide to staking into MAI Metapool

If you want a step-by-step guide on farming MAI, here’s a

What are the Benefits of Using MAI?

At its core, MAI allows you to be your own bank. This means that on your own, you can undertake the function of a bank by borrowing and opening lines of credits on your own, in a decentralized and non-custodial way.

On a deeper level, MAI 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

Here’s some use-cases for MAI for StellaSwap users;

Borrow Stablecoin w/o Selling Your Favourite Coins: Borrow stablecoins backed by your tokens to use the value of your tokens without exiting your long position.
Borrow to Buy Other Assets: Borrow against your existing wealth and buy more assets, expanding your investment portfolio. You could, for example, borrow MAI to buy other tokens such as DOT.
Consolidating Debt: Borrow MAI to pay down high-interest debt, saving on interest payments. The only fees you will incur through borrowing MAI will be a repayment fee at the end of your loan.
No scheduled payments: You won’t need to commit to monthly payments or deadlines; you can repay your debt at any time that is convenient to you and your needs.
Instant lines of credit: You don’t need credit checks or someone else’s permission to borrow MAI. You are your own bank.‌
MAI as collateral: Lending protocols require stablecoins to borrow tokens. You could use MAI as stablecoin collateral in those platforms, essentially using your original tokens as collateral for debt in lending protocols.
Bridge your MAI to any of the other networks where Qidao is live:
Send native MAI to other chains with Qidao’s partner bridge Multichain https://app.multichain.org/#/router.

Moonbeam, Polygon, Fantom, Avalanche, Arbitrum, Moonriver, Harmony, Gnosis Chain, BNB Chain, Boba, Metis, Milkomeda, IoTeX, Celo, Aurora, Cronos, Syscoin and many more to come.

About StellaSwap

StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.