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MAI

$12M market cap

Issued by QiDao / Mai Finance · reviewed 11 October 2026

Market cap: $12M +0.01% 7d
30-day trend
Volume / market cap: 0.0%
Peg drift, 30 days: 12.11%

Market data as of 11 October 2026, the same daily snapshot the tracker publishes. Peg drift is the largest single-day distance from par over the last 30 days, for USD-pegged tokens only.

MAI is a USD-pegged stablecoin minted through overcollateralized debt positions in QiDao vaults and through the Peg Stability Module. QiDao documentation states that MAI is backed by decentralized tokens and is not algorithmic.

01

Instrument facts

Symbol	MAI
Peg	USD
Backing	Crypto backed
Status	Active
Networks	L1 EVM Polygon L2 Base
Use cases	DeFi collateral, Trading

02

Contract addresses

13 chains

Chain	Address
Aurora	`0xdfa46478f9e5ea86d57387849598dbfb2e964b02`
Boba	`0x3f56e0c36d275367b8c502090edf38289b3dea0d`
Celo	`0xb9c8f0d3254007ee4b98970b94544e473cd610ec`
Harmony Shard 0	`0x3f56e0c36d275367b8c502090edf38289b3dea0d`
IoTeX	`0x3f56e0c36d275367b8c502090edf38289b3dea0d`
Klay Token	`0x3f56e0c36d275367b8c502090edf38289b3dea0d`
Metis Andromeda	`0xdfa46478f9e5ea86d57387849598dbfb2e964b02`
Milkomeda Cardano	`0xb9c8f0d3254007ee4b98970b94544e473cd610ec`
Moonbeam	`0xdfa46478f9e5ea86d57387849598dbfb2e964b02`
Moonriver	`0x7f5a79576620c046a293f54ffcdbd8f2468174f1`
Polygon PoS	`0xa3fa99a148fa48d14ed51d610c367c61876997f1`
Syscoin	`0x2611fa1cae2a3e20ed47fb1b293437c14f41b00f`
xDai	`0x3f56e0c36d275367b8c502090edf38289b3dea0d`

Addresses as recorded for this token. Verify against the issuer's own published address before sending funds.

Official site

03

Background

Overview

MAI is a USD-pegged stablecoin minted through overcollateralized debt positions in QiDao vaults and through the Peg Stability Module. QiDao documentation states that MAI is backed by decentralized tokens and is not algorithmic.

Key Features

Overcollateralized vault-based minting
DAO-governed collateral and parameter changes
Peg Stability Module for 1:1 minting and redemption against approved stablecoins
Base and Polygon fully live while legacy deployments are wound down

Reserve Backing

Decentralized token collateral deposited into overcollateralized QiDao vaults; Approved stablecoins deposited into the Peg Stability Module.

Supported Networks

Available on Polygon, Base.

04

Recent activity

2023-10-14 Depeg Bad-debt and collateral-backing stress linked to the Multichain bridge collapse and Fantom-related MAI exposure low $0.72

05

Frequently asked questions

What is MAI?

MAI is a USD-pegged stablecoin minted through overcollateralized debt positions in QiDao vaults and through the Peg Stability Module. QiDao documentation states that MAI is backed by decentralized tokens and is not algorithmic.

How is MAI backed?

Decentralized token collateral deposited into overcollateralized QiDao vaults; Approved stablecoins deposited into the Peg Stability Module

Which networks carry MAI?

MAI is recorded on 2 networks, including Polygon, Base.

What is the market capitalization of MAI?

MAI has a market capitalization of $12M as of 11 October 2026.

Has MAI ever broken its peg?

The most recent recorded depeg for MAI occurred on 14 October 2023, when its price fell to $0.72.

06

Other US dollar stablecoins

Compiled from issuer disclosures, on-chain data and market data. All issuers · Methodology