QIP030: Add AVAX as collateral for MAI

This proposal is to add AVAX 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 AVAX in vaults and borrowing on its value at 0% interest. AVAX derivatives will also be approved as collateral for MAI.

The minimum collateral to debt ratio for AVAX vaults will be 130%.

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.

Options:

• Add AVAX
• Do not add AVAX