Following a profitable vote on snapshot, Mai Finance’s QiDAO protocol will likely be supporting the Kyber Community Crystal (KNC) token as collateral on the Polygon community, by way of the new KNC vault on https://mai.finance/!

QiDAO is an open supply and non-custodial steady protocol for extracting worth out of priced property. Merely create a vault, deposit your crypto property, and begin borrowing stablecoins in opposition to your collateral’s worth. It’s self-sustaining, community-governed, and decentralized. Loans are secured by all the time having extra worth locked than the quantity of debt given out. Loans are paid out and repaid in MAI (a stablecoin tender pegged to the USD) and always, MAI stablecoins are totally backed by collateral. QiDAO already has $65M in TVL!

KNC is a utility and governance token and an integral a part of KyberSwap. KNC holders can stake their KNC and vote on initiatives to obtain buying and selling charges generated on KyberSwap, together with different advantages.

✨New $KNC Vault on mai.finance✨

KNC being supported as a collateral asset on QiDAO provides one other precious utility for token holders! QiDAO means that you can maintain your KNC and nonetheless have the ability to spend its worth. You’ll be able to borrow the MAI stablecoin with KNC with out having to promote your crypto property, and accomplish that at 0% curiosity on Polygon!

💠No hidden charges:
0% curiosity
0% borrow
0% administration
0% deposit
0% withdrawal
0.5% reimbursement

Easy instance:

You might have 100,000 KNC tokens in your portfolio however you heard some constructive information in regards to the MATIC token and also you wish to purchase some quick. The dilemma that you’ve got now’s whether or not to promote your KNC to purchase MATIC or maintain your KNC since you are additionally bullish about its long run potential to be value extra.

By utilizing QiDAO, you possibly can deposit your 100,000 KNC in a vault and borrow MAI in opposition to that collateral to buy MATIC. You get MATIC early earlier than a possible rise in worth and get to maintain all your KNC. So, if KNC costs enhance subsequent week, you’ll nonetheless have the ability to notice these positive factors. In the meantime, the MAI you acquired in opposition to your KNC collateral may be paid again at any time and don’t incur any curiosity.

If you pay again a mortgage, you’ll pay a ‘reimbursement charge’ of 0.5% of the stablecoin debt being repaid to unlock the underlying KNC collateral. This charge is denominated within the collateral token. Extra data may be discovered right here: https://docs.mai.finance/

KNC Parameters on QiDAO

• 140% minimal collateral to debt ratio
• Minimal borrow: 10 MAI
• Most borrow per vault: 100,000 MAI

Listed here are 2 straightforward methods to make use of KNC on QiDAO and KyberSwap to maximise your yield on Polygon!

1. Most Yield Loop (MAI-KNC farm)

• On QiDAO, borrow MAI by depositing KNC as collateral
• On KyberSwap, add liquidity and farm extra KNC on the MAI-KNC farm
• Together with your KNC yield, borrow extra MAI, and repeat the method above
• If you borrow MAI utilizing KNC, you might also get bonus QI token rewards (pending QiDAO vault incentive vote)!

2. Easy KNC Farming (MAI-USDC farm)

• On QiDAO, borrow MAI by depositing KNC as collateral
• On KyberSwap, together with your borrowed MAI, add liquidity and farm extra KNC on the MAI-USDC farm
• Together with your KNC yield, borrow extra MAI, and repeat the method above
• If you borrow MAI utilizing KNC, you additionally get bonus QI token rewards (pending QiDAO vault incentive vote)!

For extra superior methods, try the main points beneath

1. MAI-KNC on KyberSwap

2. MAI-USDC farm on KyberSwap

KyberSwap is a DEX aggregator, so you might be all the time in a position to get the swap greatest charges and slippage for any token on Polygon (and all different chains), together with MAI, QI, USDC, stMATIC, and KNC.

Completely satisfied farming and buying and selling on KyberSwap.com!

About Kyber Community

Kyber Community is constructing a world the place any token is usable wherever. KyberSwap.com, our flagship Decentralized Trade (DEX) aggregator and liquidity platform, offers the most effective charges for merchants in DeFi and maximizes returns for liquidity suppliers.

KyberSwap powers 100+ built-in initiatives and has facilitated over US$10 billion value of transactions for 1000’s of customers since its inception. At present deployed throughout 13 chains together with Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Velas, Aurora, Oasis, BitTorrent and Optimism.

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