# \[TEMP CHECK\] Freeze MAI from Aave

**URL:** <https://governance.aave.com/t/temp-check-freeze-mai-from-aave/13147>\
**Category:** Risk\
**Created:** [May 20, 2023, 1:49pm UTC](https://governance.aave.com/t/temp-check-freeze-mai-from-aave/13147 "2023-05-20T13:49:28Z")\
**Posts on this page:** 1\
**Showing post:** 8

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**Author:** ![tuanyuan2008](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/tuanyuan2008/32/3486_2.png) [@tuanyuan2008](https://governance.aave.com/u/tuanyuan2008)\
**Post date:** [June 2, 2023, 4:50pm UTC](https://governance.aave.com/t/temp-check-freeze-mai-from-aave/13147/8 "2023-06-02T16:50:27Z")

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## Summary

QiDao, owner of MAI Finance, is adopting QiDao Guardians, synonymous to Aave’s own Guardians. Per the [Aave docs](https://docs.aave.com/governance/aave-guardians), the Guardians represent a 6/10 multisig and hold responsibilities allowing them to intervene during times of crisis in order to protect the protocol.

Both QiDao Guardians and Aave Guardians have similar roles:

- Guarding the respective protocol against possible governance takeovers by having a veto power on any deemed malicious AIP.
- Acting as failsafe emergency actors, if needed.

However, QiDao Guardians have additional duties:

- Managing the minting and burning of MAI to regulate debt ceilings for collateral vaults.
- Overseeing bridge diversification allocations for both MAI and QI.

Furthermore, they are expected to actively engage in multisig operations, staying alert, responsive, and prompt in action when necessary; and uphold the protocol’s best interest, promptly revealing any potential conflicts of interest.

Based on QIP197, although a Snapshot hasn’t been established yet, the following timeline is suggested:

- Activation of the QiDao Guardians: May 31st, 2023
- Addition of the Timelock to the multisig: June 15th, 2023

QiDao currently utilizes a 2/4 MultiSig on Optimism and Arbitrum, and a 3/5 MultiSig on Polygon. The proposed changes aim to address the existing situation where QiDao members alone could manipulate the supply and distribution of MAI. The new setup would require 4 of 6 members to pass emergency actions, including minting and burning MAI. The six delegates are composed of two QiDao team members and one QiDao community member:

- Marc Zeller from Aave Chan Initiative
- Hamzah Khan from Polygon Labs
- Weso from Beefy Finance
- 0xNacho from QiDao Community
- Benjamin.lens from QiDao Protocol
- Pablo the Penguin from QiDao Protocol

## Market Risk Overview

From a market risk standpoint, Gauntlet has recommended [the removal of MAI from the Stablecoins eMode category](https://snapshot.org/#/aave.eth/proposal/0x84deca82139320b2570f04211b249e37b8a7602b4a0ed70e6fa772c9f6e94550) across all chains. An analysis of user positions reveals that few complex positions are collateralized by MAI (added to [Optimism](https://app.aave.com/governance/proposal/218/) and [Arbitrum](https://app.aave.com/governance/proposal/219/) ~2 weeks ago):

- On Optimism, only $105 of MAI is supplied, and $27 is borrowed.
- On Arbitrum, only $469 of MAI is supplied, and $345 is borrowed.
- Roughly half of Polygon users merely supply miMATIC to generate interest, while the other half borrows various volatile assets.

 ![image](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/8/890cd828b2143f086ba4fc4ab5595330ba1a7c20.png)

Hence, it does not seem that MAI is being utilized by users in the same capacity or with the same diversity as other stablecoins, such as USDC or DAI.

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_[View the full topic](https://governance.aave.com/t/temp-check-freeze-mai-from-aave/13147)._