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Mint MAI

Here is a step by step guide on using StellaSwap's lending facility powered by QiDao Protocol, this guide will take you through locking in collateral and borrowing MAI stablecoin
Note: Borrowing against collateral may lead to liquidation and is risky, make sure to read the full docs and DYOR to avoid losing your assets.

Step 1: Head to Mint MAI Facility

You can get there by finding Stake on main header and clicking Mint MAI, or by directly visitng the page app > https://app.stellaswap.com/mai​

Step 2: Create Vault

Choose which asset you would like to deposit as a collateral. In order to lock in your asset in the smart contract and borrow MAI for a portion of your assets value.
Once you have chosen the asset and posses it in your wallet, click on Create Vault to begin the borrowing process, you will only need to create vault once.
Note: Borrowing against collateral can lead to (liquidation): your deposited assets being sold to pay back your loan if your assets value drop to liquidation price.
Approve MetaMask message to confirm creating vault.

Step3: Deposit Collateral

Make sure you are on Deposit tab and enter the amount of collateral you would like to deposit. This will determine how much MAI you can borrow as the maximum is 40% of your deposited asset value.
Click on Approve to continue, and confirm the pop-up MetaMask transaction.
Once contract approval transaction is done, you can deposit your collateral by clicking Deposit

Step 4: Borrow (Mint) MAI

After depositing collateral you will be able to see it in vault info, on this page you will also be able to see how much MAI you are able to Mint (borrow).
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Head to Borrow tab in vault, and input your desired amount to borrow.
Note: borrowing an amount closer to the max available to borrow is risky when it comes to volatile assets and may lead to liquidation if the asset value reaches liquidation price
After inputting the amount, Click Approve, confirm MetaMask message and click Borrow MAI once its done.

Step 5: Success!

You have successfully borrowed MAI and can find it in your wallet. You can now trade, farm or transfer MAI as you would any other stablecoin.
Don't forget to maintain your loan to avoid liquidation, keep an eye on the estimated liquidation price for your collateral and either pay back loan or lock in more collateral to keep a healthy rate.

Optional: Maintain MAI Position

This section will cover how to maintain your MAI position and avoid getting liquidated.
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When you create a MAI vault, you are borrowing against your provided collateral value. Given the volatility you have to maintain the health of your vault to avoid liquidations.
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Your Vault's health can be seen in these two metrics of Current Loan to Value and Liquidation Price. The further away the number of max loan from your vault's current loan to value the healthier and less likely you are to being liquidated. Same goes for liquidation price, the further away liquidation price from actual price means safer vault.
So what if your liquidation price is close and the current loan to value is almost at max loan to value. There are two ways to avoid liquidations: 1. Pay back MAI
2. Add more Collateral
Using Stella's MAI facility you can simulate changes to your vault when adding collateral or paying back MAI by inputting the numbers on the Deposit tab and Repay tab.
Here is an example of adding an extra 100 xSTELLA to a vault with 25% Loan to Value ratio
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Notice how the after value drops to 19%, taking us further away from liquidation.
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Here is the same vault when repaying some of the debt
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In conclusion make sure you maintain a healthy vault to avoid liquidation by checking relevant metrics and taking action when necessary.