Buy MAI (MIMATIC)
What is MAI?
MAI, also known as MIMATIC, is an algorithmic stablecoin that is collateralized with Matic tokens. It's designed to maintain a 1:1 peg to the US Dollar and operates on the Polygon blockchain. MAI offers stability and reliability through its decentralized nature, which enhances security and transparency.
How does MAI work?
MAI operates on the Polygon blockchain, known for its scalability and low transaction fees, utilizing a Proof-of-Stake (PoS) consensus mechanism. It leverages smart contracts to manage the issuance and redemption process, ensuring a stable value is maintained. Users can create vaults, deposit their crypto assets, and borrow stablecoins against their collateral.
What are the potential use cases for MAI?
MAI can be used in various real-world applications, primarily in decentralized finance (DeFi) for lending, borrowing, and yield farming. It also serves as a stable value storage option, integrates with multiple blockchain networks for diverse applications, and is utilized in smart contracts for automated and secure transactions. Industries such as financial services, e-commerce, retail, and potentially supply chain management can benefit from MAI's stability and transparency.
What is the history of MAI?
MAI was launched in 2021 as an innovative stablecoin model on the Polygon network, focusing on providing a stable digital asset for financial activities. Key milestones include integration with DeFi platforms, enhancements to its algorithmic mechanisms, and expansion for cross-chain compatibility. MAI has participated in various cryptocurrency events and has outlined an ambitious roadmap for further development and integration .
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Frequently Asked Questions (FAQs)
What is the current price of MAI (MIMATIC)?
The MAI price is $1.6042 AUD, representing a -0.6% from the day prior.
Where is the best place to buy MAI (MIMATIC) in Australia?
The best place to buy MAI (MIMATIC) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell MAI (MIMATIC) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of MAI (MIMATIC)?
The trading volume of MAI (MIMATIC) is $38.8K AUD in the last 24hrs, representing a -0.6% from the day prior.
How can I buy MAI (MIMATIC)?
MAI (MIMATIC) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of MAI (MIMATIC)?
The current market cap of MAI (MIMATIC) is $43.2M AUD.
Can I convert MAI (MIMATIC) to cash?
Yes - With Coinstash you can convert your MAI (MIMATIC) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many MAI (MIMATIC) are there?
The current circulating supply of MAI (MIMATIC) is 27.6M.
Is Coinstash a safe place to buy MAI (MIMATIC) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling MAI (MIMATIC) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.