QiDao Weekly Updates — Week 4 (5/24–5/30/2021)

Recent Announcements

  • QIP 004 resulted in 30% of repayment fee revenue being distributed to Qi stakers and 70% being sent to the treasury. More information about Qi staking will come soon.

Fireside Chats

Product Improvements

  • Solved blank screen issue with rewards page
  • Added new liquidation warning on vaults

miMatic Update

The Protocol minted one million miMatic and sold it on the open market to alleviate the buy pressure for miMatic and stabilize the peg. This miMatic is backed by 1,225,460 USDC, as it was sold at a premium until the peg returned to normal levels.

Moving forward, the Protocol will add USDC as collateral for miMatic, in addition to Matic. Users will be able to swap USDC for miMatic through the app site. miMatic vaults will still accept Matic as collateral, which allows users to enjoy the value of their Matic without having to sell it.

Upcoming Activities

Protocol liquidity tracker

Things in the works

  • Building a subgraph

Community growth

  • Twitter: 1,725 followers

Asks for the the community

Partnerships — If you think of partnerships that can help with the following please suggest them or introduce us:

  • Increase use cases of miMatic

Suggestions — Send them on our Discord suggestions channel

Create original content

  • Articles

Weekly Polygon Rundown

Things that stood out to me in the Polygon space this week

  1. Google Cloud Now Provides Blockchain Insights for Polygon Network. — CoinDesk

Learn more about QiDao and get involved in the community







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