MAI

MIMATIC Price

About MAI (mimatic)

MAI is an overcollateralized stablecoin designed to maintain a stable value relative to the US Dollar through decentralized token backing.

• Users can mint MAI by depositing supported crypto assets into vaults as collateral.
• The protocol offers 0% interest on borrowed MAI, allowing users to unlock liquidity without selling their assets.
• MAI is a multichain asset, operating across numerous networks including Polygon, Gnosis, and Harmony.

What Is MAI

MAI is a decentralized stablecoin that allows users to extract value from their cryptocurrency holdings without triggering a taxable sale or losing exposure to their assets. It is the primary stable asset of the QiDao protocol, a non-custodial and community-governed system. Value moves through the system when users lock collateral in smart contract-controlled vaults to mint new MAI tokens.

The token is put to work as a medium of exchange and a stable store of value within the decentralized finance (DeFi) ecosystem. As the ecosystem grows, the demand for MAI typically scales with the addition of new collateral types and expansion to more blockchain networks. The protocol is designed to be self-sustaining, where fees generated from protocol actions support the treasury and the broader ecosystem.

What Makes MAI Unique

• Zero Interest Loans: Unlike many other stablecoin protocols that charge stability fees or interest, the protocol allows users to borrow MAI at a 0% interest rate.
• Overcollateralization: Every MAI token in circulation is backed by more than its value in decentralized crypto assets, ensuring the stability and security of the peg.
• Multichain Presence: MAI is integrated into over 15 different blockchain networks, providing broad accessibility and cross-chain utility.
• Decentralized Governance: The protocol is governed by the Qi token, allowing the community to vote on collateral types, risk parameters, and treasury management.

What Can You Use MAI for?

As a stablecoin pegged to the US Dollar, MAI serves several key functions:

1. Value retention: MAI provides a digital, on-chain representation of the US Dollar, allowing users to mitigate exposure to the inherent volatility of the broader cryptocurrency market.
2. Yield generation: Users can participate in decentralized lending and liquidity provisioning across various DeFi platforms to earn rewards on their MAI holdings.
3. Cross-border settlement / value transfer: MAI enables frictionless, international transfers of US Dollar-equivalent value, leveraging blockchain technology for fast and cost-effective global transactions.
4. Collateralization: The asset can be used as backing for other borrowing and lending protocols or as margin for decentralized derivatives trading, as supported by the integrated DeFi ecosystem.

How Does MAI Work?

MAI operates through a system of overcollateralized debt positions called vaults. Users deposit decentralized tokens, such as MATIC or ETH, into these vaults to mint MAI. To maintain the peg, the protocol requires that the value of the collateral always exceeds the value of the minted MAI. If the collateral value falls below a specific threshold, the vault may be liquidated to ensure the stablecoin remains fully backed.

The protocol utilizes decentralized oracles to provide real-time price data for collateral assets, ensuring accurate valuation and liquidation triggers. Because MAI is an application-level asset within the protocol, it does not function as a network gas token. Instead, transactions involving MAI incur standard network gas fees on the respective blockchain where it is being used.

Team Info and Investors

MAI was developed by the team behind the protocol, which operates under the leadership of founders like Lao Zi. The project emphasizes decentralized governance and community involvement, with major decisions made through the DAO. While the source material does not specify a comprehensive list of early venture capital investors, the protocol has established numerous partnerships with major DeFi projects such as QuickSwap, Aave, and Chainlink.

Where can you buy MAI?

MIMATIC tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade MAI is Uniswap V3 (Polygon), where the most active trading pair MIMATIC/USDC.E has a trading volume of $3,226.94 in the last 24 hours. Other popular options include Balancer V2 (Polygon) and Quickswap (v3).

What is the daily trading volume of MAI (MIMATIC)?

The trading volume of MAI (MIMATIC) is $8,413.73 in the last 24 hours, representing a -35.20% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for MAI (MIMATIC)?

MAI (MIMATIC) reached an all-time high of $1.35 and an all-time low of $0.6559. It’s now trading -26.80% below that peak and 51.10% above its lowest price.

What is the market cap of MAI (MIMATIC)?

Market capitalization of MAI (MIMATIC) is $11,937,254 and is ranked #1041 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of MIMATIC tokens (12 Million tokens are tradable on the market today).

What is the fully diluted valuation of MAI (MIMATIC)?

The fully diluted valuation (FDV) of MAI (MIMATIC) is $299,758,245. This is a statistical representation of the maximum market cap, assuming total number of 300 Million ETH tokens are in circulation today.

How does the price performance of MAI compare against its peers?

With a price increase of 0.20% in the last 7 days, MAI (MIMATIC) is outperforming the global cryptocurrency market which is down -5.50%, while outperforming when compared to similar Stablecoins cryptocurrencies which are down -0.10%.

How to add MAI (MIMATIC) to MetaMask?

Adding MAI (MIMATIC) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import MIMATIC as a token. You can copy MIMATIC’s contract address (0xa3fa99a148fa48d14ed51d610c367c61876997f1) and import it manually, or if you've installed MetaMask's chrome extension, add MIMATIC to MetaMask with one click on CoinGecko.

Add MIMATIC to MetaMask.