QIP044: Add MOVR as Collateral for MAI

This proposal is to add MOVR as collateral for borrowing MAI.

By adding more assets, we attract a wider range of users who seek to gain stable value from their tokens at 0% interest. Vaults allow the users to gain the benefit of a stablecoin without spending the underlying asset.

If approved, users will be able to mint MAI by locking MOVR in vaults and borrowing on its value at 0% interest. MOVR derivatives will also be approved as collateral for MAI.

Your voting power is represented in Qi Powah. If you want to increase your voting power you can go to app.mai.finance/boost. Revenue share from the vaults repayment fees will be distributed to Qi stakers based on their amount of eQi.

Motivation:

• Increase user options
• Attract new audience
• Reduce protocol risk
• Increase protocol revenue
• Increase TVL

Quorum Standards:

The option with the most votes will be adopted. If votes to add MOVR outweigh votes to not add MOVR but no min CDR option has a majority, then a weighted average will be taken to decide on the min. CDR for MOVR.

Options:

• Add MOVR at 130% min CDR
• Add MOVR at 135% min CDR
• Add MOVR at 140% min CDR
• Further discussions needed

*min CDR = minimum collateral to debt ratio