QIP050: Engage in Token OTC Deal with Tomb Finance Chairman

The Tomb Finance chairman (Harry Yeh) would like to purchase 1M Qi in an OTC trade with QiDao.

QiDao has recently partnered with Tomb Finance to create a lending market on Market.xyz. Tomb has hence seeded several markets with MAI on numerous DEXs: QuickSwap, Pangolin, Trader Joe, and PancakeSwap. This is with the aim of supporting our pursuit for a Chainlink oracle.

Motivation

As the partnership between Tomb and QiDao grows, we want to make sure our incentives are aligned. Through upcoming projects like LIFE, MAI will benefit from having strong partnerships with Harry.

OTC details:

• 1M Qi in exchange for TOMB
• Price of Qi: 70 cents (14-day TWAP)
• The Qi purchased will be locked in eQi.

Quorum Standards:

The option with the most votes will be approved.

Options:

• Approve deal
• Further discussions needed