QiDAO will help the Kyber Community Crystal (KNC) token as collateral | by Kyber Community

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

QiDAO is an open supply and non-custodial steady protocol for extracting worth out of priced belongings. Merely create a vault, deposit your crypto belongings, and begin borrowing stablecoins towards your collateral’s worth. It’s self-sustaining, community-governed, and decentralized. Loans are secured by at all times having extra worth locked than the quantity of debt given out. Loans are paid out and repaid in MAI (a stablecoin mushy 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 helpful utility for token holders! QiDAO permits you to hold 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 belongings, and achieve this at 0% curiosity on Polygon!

💠No hidden charges:0% interest0% borrow0% management0% deposit0% withdrawal0.5% reimbursement

Easy instance:

You’ve 100,000 KNC tokens in your portfolio however you heard some optimistic information concerning the MATIC token and also you need to purchase some quick. The dilemma that you’ve got now’s whether or not to promote your KNC to purchase MATIC or hold your KNC since you are additionally bullish about its long run potential to be price extra.

Through the use of QiDAO, you’ll be able to deposit your 100,000 KNC in a vault and borrow MAI towards that collateral to buy MATIC. You get MATIC early earlier than a possible rise in worth and get to maintain your whole KNC. So, if KNC costs improve subsequent week, you’ll nonetheless have the ability to notice these beneficial properties. In the meantime, the MAI you acquired towards your KNC collateral might be paid again at any time and don’t incur any curiosity.

Once 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 might be discovered right here: https://docs.mai.finance/

KNC Parameters on QiDAO

140% minimal collateral to debt ratioMinimum borrow: 10 MAIMaximum borrow per vault: 100,000 MAI

Listed below 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 collateralOn KyberSwap, add liquidity and farm extra KNC on the MAI-KNC farmWith your KNC yield, borrow extra MAI, and repeat the method aboveWhen 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 collateralOn KyberSwap, along with your borrowed MAI, add liquidity and farm extra KNC on the MAI-USDC farmWith your KNC yield, borrow extra MAI, and repeat the method aboveWhen you borrow MAI utilizing KNC, you additionally get bonus QI token rewards (pending QiDAO vault incentive vote)!

For extra superior strategies, take a look at the main points under

1. MAI-KNC on KyberSwap

2. MAI-USDC farm on KyberSwap

KyberSwap is a DEX aggregator, so you might be at all times 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 happy farming and buying and selling on KyberSwap.com!

About Kyber Community

Kyber Community is constructing a world the place any token is usable anyplace. KyberSwap.com, our flagship Decentralized Alternate (DEX) aggregator and liquidity platform, supplies the very best charges for merchants in DeFi and maximizes returns for liquidity suppliers.

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

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