🔥 In depth interpretation of AI stablecoin early project 01- MAITRIX @ theMAITRIXai In this cycle, the price of AI concept tokens has skyrocketed, but behind it are numerous challenges: AI projects lack stable financial infrastructure, which to some extent hinders the healthy development of the ecosystem. For example, to use the computing power of AI projects, corresponding tokens need to be used for payment. But the price of AI tokens may fluctuate by 20% within a day, which means that the user's usage cost is extremely unstable. For developers/miners, they earn AI token rewards, but they need to pay for server, labor, and other costs, which need to be exchanged for stablecoins. If the price of AI tokens drops sharply, their operations will be in trouble. It is in this context that the @ theMAITRIXai protocol emerged. This is a multi currency stablecoin platform for the AI ecosystem, allowing AI projects to issue exclusive smart stablecoins through their native tokens, with investment support from well-known institutions such as Dragonfly and DCG. Simply put, AI projects can inject their own tokens into MAITRIX to create stablecoins anchored in US dollars (known as "AI USD"), which can then be used for payments, transactions, and DeFi activities. ⭐ 1. The benefits of AI projects issuing their own stablecoins Directly using traditional stablecoins such as USDT/USDC may subject AI projects to centralized third-party risks. The model of issuing "native stablecoins" for AI projects has the following advantages: 1. Stable Exchange Medium: Provide users with a stable currency that is not affected by the drastic fluctuations of project tokens, ensuring smooth payment and settlement within the ecosystem. 2. Value growth: AI stablecoins can be integrated with various DeFi protocols, allowing the token economy of AI projects to blend into richer financial scenarios. MAITRIX achieves the above concept by providing two core functional modules: -Stablecoin Launchpad, To B: Any AI project can create stablecoin contracts supported by its native token through MAITRIX. -Stablecoin Hub, To C: Token holders can mint their supported AI USDs on MAITRIX and stake them for rewards. ⭐ 2. Stable Coin Casting Mechanism and Token Economy Model Currently, MAITRIX uses two main stabilization mechanisms to cast AI USD: 1. Mint and Burn Equilibrium: This model requires that each AI USD be backed by an equivalent reserve asset, meaning that for every $1 stablecoin issued, there are project tokens worth over $1 as reserves, forming a complete collateral. This mechanism is applicable to AI project tokens supported by VC, which typically have more stable prices. 2. Collateralized Debt Position (CDP): Similar to the principle of MakerDAO issuing DAI, users lock AI project tokens as collateral to lend (mint) stablecoins and maintain a certain excess collateral ratio. This mechanism is designed specifically for AI tokens that are issued fairly and have high price volatility. The token economy design of MAITRIX revolves around the red pill points and governance tokens. The Red Medicine Pill points are currently used as user incentives during the testing phase, and the methods of obtaining them include pledging AI stablecoins, providing liquidity, and other platform activities. Red medicine pills cannot be traded directly. In the future, once MAITRIX officially issues governance tokens, these points will be converted into real and tradable governance tokens according to a certain proportion. It can be said that the Red Medicine Pill points are the early "equity certificates" of the MAITRIX ecosystem. ⭐ III. Participation Method of Test Network At present, MAITRIX has opened a testing network, and any interested user can participate with zero threshold, accumulate red medicine pill points, and prepare for future mainnet rewards. 1. Claim test tokens: On the MAITRIX testing website, open the "Faucet" page and claim the test ATH token. 2. Casting stablecoins: Click on "Mint AUSD" on the platform homepage to enter the casting page, and mint an AUSD test stablecoin at an equivalent amount. 3. Pledge AUSD: Switch to the "Stake AUSD" pledge page, and the pledged AUSD will be locked in the revenue contract and begin to generate interest. 4. Viewing Revenue: After pledging for a period of time, users can view the revenue status on the "Earn" page, including daily generated AUSD interest and Pill points. The benefits during the testing phase are all simulated. 5. Release of Pledge and Redemption: Users need to wait for a 14 day lock period to release the pledged AUSD. Aethir USD is the first smart stablecoin case on MAITRIX testnet. Currently, the testnet also offers various stablecoins for different AI projects, including VanaUSD, Virtual USD, ai16z USD, etc. The participation process is basically the same as AUSD. ⭐ IV. Risk Warning Although MAITRIX's "algorithm+collateral" intelligent stablecoin model is innovative, it still faces risks of anchor detachment and liquidation in extreme market volatility. In addition, the risks associated with smart contracts under the new protocol require time verification and multiple rounds of auditing. And, the high returns of the testnet are only for testing purposes, and the return rate of the mainnet may be adjusted. I suggest everyone to participate rationally and diversify risks. MAITRIX takes smart stablecoins as the entry point, filling the gap for AI projects to enter the DeFi world. Looking ahead to the future, perhaps AI driven decentralized applications may use MAITRIX to issue their own stablecoins, forming an interconnected DeFAI network that we can keep an eye on. If you have any ideas about MAITRIX or AI stablecoins, please feel free to leave a comment in the comments section! 👏