#DeFiForAll: Announcing Liquidity Mining and Staking Rewards from QiDao!
“Kindness in words creates confidence. Kindness in thinking creates profoundness. Kindness in giving creates love.” — Lao Zi
TL;DR: We’ve launched our Qi rewards for staking miMatic and providing liquidity to the miMatic-USDC pair! Rewards will be paid out in Qi governance tokens.
The QiDao Protocol, the first Polygon-native stablecoin protocol, was built as a show of belief in the Polygon community. This is a protocol owned and run by the Polygon community, and it’s miMatic token is backed by Polygon’s currency: Matic. As such, we want to kick things off with rewards for users through our incentive programs!
Keeping this in mind, we’re launching our first liquidity mining and staking program for miMatic! We’ve earmarked 1% of the total supply of Qi governance tokens for the miMatic-USDC market as well as miMatic staking for this initial staking program. This is only the start, though! 20% of the entire governance token supply has been set aside for liquidity pool incentives.
The governance token allocation will be awarded linearly over two weeks to participants. 1/3 is allocated to single staking of miMATIC while 2/3’s are allocated for miMATIC-USDC QuickSwap LP tokens. 20 Qi per block will be rewarded until 2m are harvested!
There is a deposit fee of 0.5% for participating in these rewards.
Are you ready? Join the first stage of our rewards here: link.
About the QiDao Protocol
QiDao is the first Polygon-based stablecoin protocol, designed by the Mai.Finance team. The QiDao Protocol is made up of two tokens: miTokens and Qi tokens. MiToken is the stablecoin and Qi is the governance token. QiDao was made to allow borrowers to access a new source of capital by generating miTokens through leveraging crypto tokens as collateral. The value of miTokens is backed by token collateral, and will be worth around 1 USD.