A.P.D. -- MAI Request

Issue Statement:

MAI is currently the most crosschain decentralized stablecoin, appearing on over 20 chains through Multichain and cBridge. MAI is bridged canonically between these chains.

QiDao wishes to diversify their bridge exposure by being added to other canonical bridges.

Solution:

Add MAI to Stargate for the following chains:

• Polygon
• Avalanche
• Arbitrum
• Optimism
• BNB
• Ethereum

QiDao will deposit 1M MAI in each of these chains, and will continue to provide added liquidity in response to demand for bridging.

Success:

MAI can bridge significant volume given its many yield opportunities across several chains.

Execution:

The Stargate team will develop the ability to swap MAI between chains.

Timeline:

Initial Smart contract development: 3 days Front end development: 1-3 days

Summary:

MAI is a collateral-backed stablecoin, like DAI. It has existed for over 1.5 years and has withstood several market downturns.

MAI is listed on over 80 applications, including most major dapps like Aave, Uniswap, Curve, and Balancer.

For more information on MAI and QiDao, please visit the docs here: https://docs.mai.finance/