MAI (Fantom)Price(MIMATIC)
Details MAI (Fantom) (MIMATIC) Price information (USD)
The current real-time price of MIMATIC is $0.0223. In the past 24 hours, MIMATIC has traded between $0.0222 and $0.0233, showing strong market activity. The all-time high of MIMATIC is $5.09, and the all-time low is $0.0147.
From a short-term perspective, the price change of MIMATIC over the past 1 hour is
MAI (Fantom) (MIMATIC) Market Information
MAI (Fantom) (MIMATIC) Today's Price
The live price of MIMATIC today is $0.0223, with a current market cap of $0. The 24-hour trading volume is 23.43. The price of MIMATIC to USD is updated in real time.
MAI (Fantom) (MIMATIC) Price History (USD)
What is MAI (FANTOM) (MIMATIC)?
When is the right time to buy MIMATIC? Should I buy or sell MIMATIC now?
Before deciding whether to buy or sell MIMATIC, you should first consider your own trading strategy. Long-term traders and short-term traders follow different trading approaches. LBank’s MIMATIC technical analysis can provide you with trading references.
Future price trend of MIMATIC
What will the value be? You can use our price prediction tool to conduct short-term and long-term price forecasts for MIMATIC.
How much will MIMATIC be worth tomorrow, next week, or next month in ? What about your MIMATIC assets in 2025, 2026, 2027, 2028, or even 10 or 20 years from now? Check now! MIMATIC Price Prediction
How to buy MAI (FANTOM) (MIMATIC)
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MIMATIC Resources
To learn more about MIMATIC, consider exploring other resources such as the whitepaper, official website, and other published information:
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MAI (FANTOM) (MIMATIC) FAQ
What is MAI (MIMATIC)?
MAI is an overcollateralized stablecoin, soft-pegged to the US Dollar. It is backed by decentralized tokens and issued through the QiDao protocol. This design allows users to borrow stablecoins at 0% interest by depositing various crypto assets as collateral, providing a flexible way to access liquidity without selling their holdings.
How does MAI maintain its peg?
MAI maintains its soft-peg to the US Dollar primarily through overcollateralization. This means that the value of the deposited collateral always exceeds the value of the MAI borrowed. Additionally, market incentives and penalties are utilized to encourage user behavior that supports peg stability, rather than relying solely on algorithmic mechanisms for price management.
What are the risks associated with MAI?
Risks for MAI include potential smart contract vulnerabilities, which could lead to exploits. There is also the risk of devaluation of the underlying collateral assets, which could weaken the stablecoin's backing. Contagion effects could occur if centralized stablecoins used in collateral vaults lose their peg. Finally, there's the inherent risk of losing funds if MAI itself de-pegs from the US Dollar.
What happened with MAI's depeg on Fantom?
Several months ago, MAI experienced a depeg on some chains due to bad debt generated from Fantom operations. This incident was specifically linked to the Multichain bridge compromise, which significantly affected wrapped assets on Fantom. The depeg led to a net outflow of MAI and an excess supply on the particular chains that were impacted.
How did the QiDao protocol address the depeg?
The QiDao DAO implemented several strategies to address the depeg. These included burning MAI tokens from the treasury to cover the accumulated bad debt. To prevent further issues, new loans and borrow incentives were paused on the affected chains. Additionally, bridging limits were put in place to carefully control the flow of MAI between different chains, helping to manage supply and distribution.
Is MAI still functional and safe after the Fantom incident?
While certain chains were affected by the depeg incident, the core QiDao smart contracts were not exploited and remain functional. Although new loans were paused on the depegged chains, the protocol has focused on strengthening MAI's peg and overall stability on other robust networks like Ethereum and Base, where it continues to operate effectively for users.
Important MAI (FANTOM) (MIMATIC) industry updates
Time (UTC+8) | Type | News |
|---|---|---|
01-15 15:07:16 | Market Information | MAI (MIMATIC) is actively advancing, recently fixing a critical vault vulnerability and expanding its ecosystem with new Stargate liquidity pools. Its underlying QiDAO Protocol successfully deployed on the Kava Network, broadening reach. Notably, MAI is exploring significant AI and cloud solutions integration, including a potential Microsoft partnership to develop a 500-billion-parameter language model. These developments, alongside general market mentions, position MAI for future growth and innovation in the Web3 space. |
