MAI (Linea)Price

(MIMATIC)

MAI (MIMATIC) is an overcollateralized stablecoin backed by decentralized tokens. It functions as an open-source, non-custodial stable protocol designed to extract value from priced crypto assets. The project addresses the problem of users needing liquidity without selling their underlying crypto holdings, allowing them to retain ownership while accessing stablecoin value. It seeks to provide a decentralized, efficient method for leveraging digital assets within the Web3 ecosystem.

MAI's main use case allows individuals to borrow stablecoins at 0% interest against their existing crypto assets. This unique feature means users can unlock liquidity from their holdings without liquidating their positions, effectively letting them keep their crypto while spending its value. It plays a significant role in various decentralized finance applications by enabling capital efficiency and providing a stable medium of exchange within the ecosystem.

The tokenomics of MAI (MIMATIC) indicate an infinite total supply, with a notable circulating supply of approximately 27.56 million tokens. The project utilizes linear vesting schedules for community treasury allocations, which helps manage the distribution over time. This structure is designed to align incentives for users, developers, and investors by ensuring a phased release of tokens for community-driven initiatives, supporting the long-term sustainability and governance of the protocol.

MAI is a multichain stablecoin, making it accessible across numerous blockchain networks. These include prominent platforms such as Polygon, Base, Ethereum, OP Mainnet, Avalanche, Fantom, Arbitrum, Metis, BSC, Gnosis, and Moonbeam. Its connection to Linea is direct; MAI (Linea) signifies its operation within the Linea ecosystem, explicitly listed by Mai Finance as one of its supported chains, enhancing its utility and reach across various Web3 environments.

MAI operates on an open-source and non-custodial stable protocol. Its core technology revolves around being an overcollateralized stablecoin, meaning that the value of the crypto assets backing MAI tokens always exceeds the value of the MAI issued. This overcollateralization is a fundamental aspect of its stability mechanism, designed to maintain its peg. The protocol was initially developed on the Polygon blockchain, leveraging its scalability and efficiency for transactions.

MAI (MIMATIC) tokens can be acquired and exchanged on various decentralized exchanges across the networks it supports. On Linea, trading is available through platforms integrated with the network. For general accessibility, users can add MAI to a cryptocurrency wallet like Metamask by selecting the desired blockchain network, then using the "import tokens" function and pasting the MAI smart contract address specific to that network. This allows users to manage their MAI holdings efficiently.