QIP049: Seed Fantom Ecosystem Locker with MAI

This proposal is to decide on whether to seed MAI from the DAO into a Market.xyz lending market for Fantom ecosystem assets such as TOMB, TSHARES, xBOO, SPIRIT, and BEETS.

Seeding these markets would deepen our relationship with some of the top projects in Fantom and with Market.xyz. This will introduce MAI to new communities and become a better known stable in the ecosystem.

Strengthening partnerships:

We have talked with the 3 major DEXs on Fantom to have them start/increase incentives for MAI pools in return for adding their tokens to locker. This will help deepen our liquidity and help maintain a strong peg.

Tomb finance - Our teams have been working on a long term partnership. Tomb will help seed TOMB-MAI liquidity on multiple DEXs to help both tokens achieve the requirements for receiving a Chainlink oracle. This locker will help the Tomb team borrow the MAI they will need to seed the liquidity.

Market.xyz - Extending our crosschain partnership.

QiDao will strive to maintain competitive borrowing rates for MAI by managing the supply of MAI in this market.

Motivation

• Increase demand for MAI
• Introduce new audiences to MAI
• Gain more traction as a stablecoin on Fantom

Quorum Standards

The option with the most votes will be adopted.

Options

• Seed the market
• Further discussions needed

note: the market has not yet been launched.