Author: flowie, ChainCatcher

On February 17, the protocol MAITRIX, which supports the minting of stablecoins using AI tokens, launched its testnet.

This testnet also launched the first AI stablecoin, Aethir USD (AUSD), which allows users to mint using the tokens of the decentralized GPU project Aethir, with each AUSD pegged 1:1 to the US dollar.

Currently, the testnet has opened sections for AUSD minting and staking. According to its official information, within about a week of launch, MAITRIX has attracted over 130,000 registrations, with a TVL of approximately $1.28 million.

From RootData's data, MAITRIX is backed by well-known investors, including Dragonfly, Sfermion, DCG, IVC, and Shima Capital. MAITRIX is also ranked among the top projects on RootData's recent popularity list.

MAITRIX: Why Does AI Need Stablecoins?

According to the official documentation, MAITRIX believes that AI projects face several significant obstacles, including severe volatility in token value, limited payment options, and fragmentation of the ecosystem.

For instance, the volatility in token prices makes it difficult for AI projects to manage expenses, plan, and operate. The limited utility and unstable value of many native tokens also hinder adoption and growth within AI projects.

In MAITRIX's view, the AI project ecosystem needs stablecoins; however, using traditional stablecoins (like USDT/USDC) poses third-party risks. Using AI stablecoins offers three major advantages:

First, it protects users from the impact of native token volatility and allows projects to smoothly conduct everything from payroll to daily financial operations.

Second, it ensures financial stability to prevent the depletion of funds during market downturns due to price fluctuations in project tokens, which threatens long-term financial stability.

Third, it can help stabilize token prices. Projects can use AI stablecoins instead of selling native tokens to release the value of their treasury, preserving token prices while enhancing community confidence and providing financial support for operations and growth.

Core Functions of MAITRIX

MAITRIX's ultimate goal is to become the DeFi layer in the decentralized AI field, currently featuring two core functions:

Stablecoin Launchpad: Any AI project can use MAITRIX to create a stablecoin token contract supported by its native token.

Stablecoin Hub: Token holders can use MAITRIX to mint supported AI stablecoins, stake to earn rewards, and provide liquidity through specific token pairs.

AUSD Incentive Mechanism and Testnet Tutorial

MAITRIX has launched the stablecoin for the first AI project, Aethir USD (AUSD). Users can mint using Aethir token ATH and stake AUSD to earn rewards.

Staking AUSD can yield a 20% annualized return, with rewards distributed daily. MAITRIX will enforce a 14-day unlocking period. Additionally, a 0.5% fee will be charged upon unstaking.

During the testnet period, MAITRIX also has an incentive mechanism, known as the Pills incentive system.

Pills are non-transferable reward points that users can earn daily by staking AUSD, providing liquidity, or actively participating in platform activities. In the future, when the MAITRIX token is launched, accumulated Pills points can be converted into governance tokens. Furthermore, early stakers of AUSD will receive a temporary yield multiplier as an additional incentive.

For specific testnet tutorials, please refer to: https://x.com/VIP8888883/status/1891401264639926286

MAITRIX's AI USDs Stability Mechanism

MAITRIX's AI USDs are algorithmic stablecoins issued using AI tokens as reserve assets, employing different stability mechanisms for various risk projects:

• Minting and Burning Balance: The dollar value of minted AI USDs is fully backed by reserve assets. By ensuring that the reserve ratio of AI USDs (the value of reserve assets divided by the number of AI USDs in circulation) is greater than 1, balance is maintained to achieve the peg.

This mechanism will be used for AI tokens from venture capital-backed projects, as these projects' tokens typically have more stable prices. The project's foundation or decentralized autonomous organization (DAO) usually controls most of the token supply and employs methods like market making and buyback programs to ensure price stability.

• Collateralized Debt Position (CDP): Minting stablecoins by using AI native tokens as collateral. AI USDs minted through this method are over-collateralized.

Potential Uses of AI Stablecoins

MAITRIX states that it will ensure its AI USDs can be used in major DeFi protocols, including:

• Liquidity Mining: AI USD holders can earn rewards by providing liquidity in DEX pools.
• Lending: AI USDs will be accepted as collateral in lending protocols.
• Treasury and Reserve Assets: AI USDs can be used by DAOs and AI project treasuries to hedge against volatility.

These AI USDs can also serve as a medium of exchange within each AI project's ecosystem, such as:

• AI Agent Trading: AI USDs support automated payments for trustless smart agent services.
• Computational Payments: AI USDs serve as the unit of transaction for purchasing GPU computing resources in decentralized AI networks.
• Subscription-based AI Models: AI startups can use AI USDs to provide stable, predictable payment models for their services.

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