Allbridge is partnering with QiDao — Polygon’s first native stablecoin protocol. Using our expertise as a multi-chain token bridge we are going to expand access to QiDao’s stablecoin MAI to Solana blockchain. We are very excited to gain such a respected partner, which will certainly raise the awareness of Allbridge within the crypto space.
QiDao protocol allows for zero-interest lending within the DeFi ecosystem. With it users may hold crypto while still putting their assets to work and leveraging their crypto positions at an instant 0% interest rate. Utilizing our bridging solution, they will be able to provide access to their token and its benefits on Solana.
For Allbridge, MAI token would make a very valuable addition to our portfolio of integrations. At the same time, bridging MAI to Solana will contribute towards increasing its market share with the influx of additional Solana community members.
This collaboration opens up the gates to the respective members of Polygon and Solana communities, with whom we already have established ties due to the past integrations. By providing more projects with cross-chain access, we are getting one step closer to our goal of achieving global interoperability in the crypto space. Gluing blockchains together, just like Spiderman did with that ship 🙂.
Just kidding, of course, we don’t have such megalomania. Though the desire of building a global interoperability solution remains, and Allbridge will achieve it, step by step.
If you’d like to learn more about QiDao and the benefits that it offers, please consult the links that we’ve shared below. But for know, check the bridge for yourself: https://bit.ly/3gEuGV
QiDao is a way for you to hold on to your crypto while still being able to spend its value. This means you’re able to borrow stablecoins at 0% interest without having to sell your crypto assets! The process is simple: create a QiDao vault, deposit your crypto assets, and start borrowing stablecoins against your collateral’s value.
MAI is a stablecoin backed by collateral. MAI can only be minted with collateral backing it. MAI is created when users deposit accepted tokens as collateral in vaults and in turn receive a loan against that collateral. MAI is soft pegged to the USD, meaning that 1 MAI is around 1 USD.
Allbridge is a decentralized, modular, and expanding token bridge with on-chain consensus. It’s a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.