Overview

A proposal has been made on QiDAO governance to approve a DAO to DAO swap of Qi and SDT to the value of ~$500,000.

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Specification

QiDao is a collateral-backed stablecoin protocol. It allows users to mint MAI against the value of their assets at 0% interest. QiDAO has recently approved sdTokens e.g. sdam3CRV as collateral assets for MAI.

This enables users to borrow against sdTokens at 0% interest whilst earning yield from our Strategies. Maintaining a Qi position enables Stake DAO to participate in voting. Both DAO's have committed that the tokens will be staked and locked for 4 years and used for gauge voting.

Swaps can be executed in tranches to reduce the impact of volatility. e.g. $300k, $100k …

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Links

Discussion: https://gov.stakedao.org/t/sdip-10-approve-swap-with-qidao/541