QIP135: Add Support for MaticX Vaults on Manhattan Finance

Partnership details

MaticX vaults on Manhattan Finance will allow users to mint MAI against MaticX at a fixed interest rate. MaticX is a liquid staking form of MATIC produced by Stader Labs.

MaticX: https://www.coingecko.com/en/coins/stader-maticx Stader Labs: https://polygon.staderlabs.com/liquid-staking/maticx

In exchange for listing MaticX as collateral for MAI, Stader will incentivize MAI liquidity with $20,000 per month (MaticX-MAI pair) for 2 months.

Vault specifications

• Collateral assets to be used: MaticX
• Max. LTV: 74%
• Interest rate fee: 1% APR (Fixed)
• Oracle provider: Chainlink
• Risk grading: C
• https://docs.google.com/spreadsheets/d/1nagXgDQjhzqT0dTIagPc9S6ijs6hKFrau19MRK0DwZI/edit?usp=sharing

Motivation

• Grow partnerships on Polygon
• Introduce MAI to new audiences
• Increase revenue to QiDao
• Increase TVL

Quorum Standards

The option with the most votes will be adopted.

Options

• Approve proposal
• Further discussions needed