QiDao

Halal Rating :
Comfortable
Contract: 0x580a84c73811e1839f75d86d75d88cca0c241ff4
Last Price $0.00021 Last updated:
Rank 6813
1D Change -1.10 %
Market Cap -
Circulating supply 0
Maximum supply 200,000,000

Crypto Overview

Categories
  • Polygon Ecosystem
  • Optimism Ecosystem

Overview

QiDao is a decentralized protocol that allows users to mint MAI stablecoins using their cryptocurrency as collateral. The QI token serves as the governance token for the protocol, allowing holders to participate in decision-making regarding protocol parameters and development.

Purpose and Utility

The primary utility of QI tokens is governance rights within the QiDao ecosystem. Token holders can vote on proposals affecting protocol parameters, fee structures, and strategic decisions. Additionally, users can stake QI tokens to earn protocol revenues from stability fees.

Business Model

The protocol generates revenue through stability fees charged when users mint MAI stablecoins. These fees are distributed to QI stakers. The protocol does not charge interest on loans, instead using a fee-based model which is more aligned with Islamic finance principles.

Platform Development and Adoption

QiDao has demonstrated consistent development activity and maintains presence across multiple blockchain networks including Polygon, Fantom, and Arbitrum. The protocol has achieved notable adoption with over $50 million in total value locked (TVL) across various chains as of early 2024.

Token Distribution

The QI token has a transparent distribution model with allocations for community incentives, development, and treasury. Team tokens were subject to vesting periods to align long-term interests.

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