QIP035: Add QI Rewards to Beethoven X on Fantom

This proposal is to begin incentives for MAI and QI liquidity on Beethoven X on Fantom.

QiDao deployed MAI vaults on Fantom around 2 weeks ago. Beethoven X has provided liquidity mining rewards for a MAI-USDC pool during this time, accumulating 3,627,185 MAI. Beethoven gives around $23,000 per week in rewards to this pool. Similar to the partnership we have with Balancer on Polygon, we look to make strong ties with Beethoven X as we expand on Fantom.

The proposed MAI pool would be MAI-USDC, and would receive 15,000 QI per week. This is the same amount we award Balancer’s stable pool on Polygon. The proposed QI pool would be QI-FTM, and would receive 10,000 QI per week.

The rewards would last 2 months, by which time the DAO will begin receiving FTM rewards from TVL (assuming QiDao maintains at least $5M TVL on Fantom).

A 0.5% deposit fee will be charged for staking LPs on Mai Finance.

Motivation

• Bolster MAI’s peg given high demand for levering collaterals on Fantom
• Provide more MAI liquidity for users levering on MAI vaults

Quorum Standards

The option with the most votes will be adopted

Options

• Incentivize the pool
• Do not incentivize the pool