Thread: Top 10 Ways To Make Money Using @QiDaoProtocol
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QiDao is one of the fastest-growing, most well-respected protocols in defi, and the sheer multitude of ways you can earn $ from it are quite vast...
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🧵🧑🌾
QiDao is one of the fastest-growing, most well-respected protocols in defi, and the sheer multitude of ways you can earn $ from it are quite vast...
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I did a big thread on @QiDaoProtocol a few months ago (see below), but today in this thread I wanted to actually break down all the various ways you can earn yield via...(cont.)
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https://twitter.com/rektdiomedes/status/1482998983840600064
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...the @QiDaoProtocol ecosystem, as there have been new strategies popping up almost daily it seems like...
As a brief reminder, QiDao is a fully-collateralized disintermediated on-chain stablecoin protocol, using stablecoin $MAI (aka $MiMetic) and governance token $QI.
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As a brief reminder, QiDao is a fully-collateralized disintermediated on-chain stablecoin protocol, using stablecoin $MAI (aka $MiMetic) and governance token $QI.
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The TVL of @QiDaoProtocol has more than tripled since November when it was around $100M, and is now at $365M as of today.
The market cap of $QI is $75M currently.
As promised, here are 10+ ways to earn substantial yield with it.
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The market cap of $QI is $75M currently.
As promised, here are 10+ ways to earn substantial yield with it.
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One: Become a liquidity provisioner for any of the incentivized vaults on QiDao-Matic (its original native chain).
This includes the @QuickswapDEX $MAI / $USDC vault and $QI / $MATIC vault, and the $MAI-3CRV @CurveFinance pool (see below!).
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This includes the @QuickswapDEX $MAI / $USDC vault and $QI / $MATIC vault, and the $MAI-3CRV @CurveFinance pool (see below!).
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Two: Lock up your LP tokens on QiDao-Fantom, which also offers some great incentivized options.
This includes (again) the $MAI-3CRV stablecoin pool on @CurveFinance, and the @beethoven_x pools for $MAI / $USDC or $QI / $FTM.
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This includes (again) the $MAI-3CRV stablecoin pool on @CurveFinance, and the @beethoven_x pools for $MAI / $USDC or $QI / $FTM.
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Three: Do the same on either of the two incentivized @QiDaoProtocol - Avalanche farms.
Either $MAI-3CRV on @CurveFinance or $QI / $AVAX on @traderjoe_xyz.
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Either $MAI-3CRV on @CurveFinance or $QI / $AVAX on @traderjoe_xyz.
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To use any of the above strategies, you first 'add liquidity' on the corresponding dex, and then stake your LP tokens not on that dex, but rather on the @QiDaoProtocol site itself under 'Farms'.
Stables usually average 14%-20% in my experience... $QI pairs 60%-100%.
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Stables usually average 14%-20% in my experience... $QI pairs 60%-100%.
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Four: Lock up your 'pristine collateral' blue-chips in the @QiDaoProtocol vaults and borrow $MAI against them at 0% interest.
This functionality is on a bunch of different chains, and there are a myriad of tokens you can lock up, such as $BTC, $ETH, $CRV, and $AAVE.
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This functionality is on a bunch of different chains, and there are a myriad of tokens you can lock up, such as $BTC, $ETH, $CRV, and $AAVE.
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Five: If this wasn't intriguing enough, you can also take INTEREST-BEARING TOKENS and borrow against them.
E.g. You can literally deposit @Screamdotsh and @beefyfinance receipt tokens, and borrow $MAI against them while they STILL EARN YIELD while serving as collateral!
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E.g. You can literally deposit @Screamdotsh and @beefyfinance receipt tokens, and borrow $MAI against them while they STILL EARN YIELD while serving as collateral!
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Six: Lock $QI for 1-4 years on @QiDaoProtocol in the 'Boost' section, and receive weekly $QI yield in return :)
This is one of the coolest aspects of @QiDaoProtocol imo, and I have quite a bit of $QI locked for 4 years in this manner.
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This is one of the coolest aspects of @QiDaoProtocol imo, and I have quite a bit of $QI locked for 4 years in this manner.
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Seven: As a holder of locked $QI, you can also potentially earn bribe rewards for your gauge votes!
Locked $QI holders vote on which vaults earn borrowing incentives, and various entities have utilized bribes to earn such votes since the gauge was implemented :)
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Locked $QI holders vote on which vaults earn borrowing incentives, and various entities have utilized bribes to earn such votes since the gauge was implemented :)
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Eight: Create synethic locked $QI and lp it :)
As also seen on the above #FrenchChart diagram, you can- instead of locking it yourself- create synthetic locked $QI via either @tetu_io or @aavegotchi.
Here's a screenshot of the options on TetuSwap:
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As also seen on the above #FrenchChart diagram, you can- instead of locking it yourself- create synthetic locked $QI via either @tetu_io or @aavegotchi.
Here's a screenshot of the options on TetuSwap:
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I was LPing $QI / $tetuQI in this manner for awhile, until the apr's got pretty low (due to the strategy's popularity I presume).
I haven't tried the synthetic $QI option from @GotchiVault, but here is a tweet from @lemiscate with some info on it:
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I haven't tried the synthetic $QI option from @GotchiVault, but here is a tweet from @lemiscate with some info on it:
https://twitter.com/lemiscate/status/1506701195922001922
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Nine: Farm $MAI via any of the other great farms that utilize it.
Across Fantom and Matic especially, there are numerous third party AMM's that have $MAI/token lp pairs.
Here's a few you of the many that you can autocompound via @beefyfinance:
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Across Fantom and Matic especially, there are numerous third party AMM's that have $MAI/token lp pairs.
Here's a few you of the many that you can autocompound via @beefyfinance:
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Ten: Deposit or borrow $MAI on various lending protocols.
People have been doing this on Fantom for awhile I believe, but @AaveAave just added $MAI functionality on three different chains as well!
See below from my man @CompleteDegen:
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People have been doing this on Fantom for awhile I believe, but @AaveAave just added $MAI functionality on three different chains as well!
See below from my man @CompleteDegen:
https://twitter.com/CompleteDegen/status/1509944517075611657
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Conclusion: Those are ten great ways to earn yield via the @QiDaoProtocol ecosystem.
I have utilized nearly every single one in recent months and will continue to lock $QI and LP $MAI going forward as the #QiWars progress!
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I have utilized nearly every single one in recent months and will continue to lock $QI and LP $MAI going forward as the #QiWars progress!
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Massive h/t to all the Qi-Chads at @QiDaoProtocol + its partners + supporters:
@0xLaoZi
@0xkila
@Benjamin918_
@Wraithers_
@lemiscate
@CompleteDegen
@miyazakiweb3
@w3soBeefy
@tombfinance
@StakeDAOHQ
@_rohan_says
@tetu_io
@GotchiVault
@mjoaris
@CelsiusNetwork
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@0xLaoZi
@0xkila
@Benjamin918_
@Wraithers_
@lemiscate
@CompleteDegen
@miyazakiweb3
@w3soBeefy
@tombfinance
@StakeDAOHQ
@_rohan_says
@tetu_io
@GotchiVault
@mjoaris
@CelsiusNetwork
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If you found this thread valuable please retweet and follow!
Finally h/t @excalidraw for the #FrenchChart diagram - awesome free resource for doing those!
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Finally h/t @excalidraw for the #FrenchChart diagram - awesome free resource for doing those!
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