Strategy 1  The Aave<>QiDao<>Quickswap<>Impermax Loop
This strategy is modest and careful and is based on the principle of "do not borrow more than you can afford" or do not borrow more than the value of your assets i.e. amount lent to impermax protocol in both LP token assets.
Below is a strategy to earn ~30% on $MATIC.
The Logic behind figure 01 is not to borrow / rely on other peoples funds for leverage. If you lend 5k of USDC and 5k of miMATIC on Impermax you can borrow 1k worth of the same LP token from Quickswap @ 10x leverage since it is covered by the supply side you provided. If everyone does this then Impermax can operate at 100 percent utilisation.
Assumptions:
 Let the supply side tokens be denoted by X. Since we will be lending both USDC and miMATIC in equal proportion let it be 2X
 Let the LP token amount created on Quickswap be denominated by y
 Since 16X is the highest "safe" leverage ratio recommended by Impermax let us assume the same and reduce risk by taking half the max amount i.e. 8x
 We will be borrowing only 33% of the camWMATIC vault amount in miMATIC
 The camWMATIC vault amount is $1000
Equation (Finding x and y):
Part 1 (Finding y in terms of x)
2x + y = 333
y = 333  2x
Part 2(Deciding the split between lending and quickswap LP)
2x = 8y
2x = 8(333  x)
2x = 2664  16x
18x = 2664
x = 5328/34
x = 148
y = 333  2x
y = 37
Amount to be supplied in USDC to Impermax = $148
Amount to be supplied in miMATIC to Impermax = $148
Amount to be used to create a USDC/miMATIC LP Token on Quickswap = $37
Below are steps involved in the strategy:
 Buy some $MATIC on Quickswap
 Lend $MATIC on Aave to earn interest* (2.06% + 3.96%)
 Deposit amMATIC in QiDAO
 Borrow 33% worth of miMATIC using your camWMATIC vault collateral (this is interest free*) and camWMATIC vault auto compounds Aave rewards.
 Swap some of the borrowed miMATIC for $148 USDC on Quickswap
 Lend $148 of USDC and miMATIC each on Impermax
 Create a USDC/miMATIC LP token on Quickswap with the remaining $37
 Leverage LP token X8 to enjoy leveraged $QUICK rewards and earn IMX rewards
 Swap $QUICK and $IMX for $MATIC
 Swap wMATIC rewards for $MATIC
 Lend $MATIC on Aave again
 Deposit amMATIC in QiDAO to either borrow more or improve risk ratio
 Repeat this process to accumulate max $MATIC
The rationality in using this strategy instead of blindly borrowing is explained below:
Assumptions:

There are only 2 players participating in the entire Impermax Protocol;

The amount that can be borrowed at leverage depends on the amount supplied either by themselves or the other party.
Impermax can function at 100% utilisation based on the 3 factors below provided that users leverage LP equal to the amount available to borrow or amount they have supplied themselves in both tokens:
a) Users the amount borrowed with leverage by the user is covered by the amount lent by them in both assets of the LP Pair;
b) Borrowers are rational and do not get too greedy by borrowing more than the recommended leverage;
c) The IMX and QUICK rewards are stable.
d) Volume in the USDC/miMATIC pair is high on Quickswap for fees
Conclusion: The two best scenarios is to either borrow rationally or borrow only what you lend
The computation of the strategy is provided in resources in case you want to have a look.
Strategy 2  Aave<>QiDao<>Adamant Finance
This step is a lot less complex and more suitable for most people.
1. MATIC utilisation strategy (ADDY Accumulation): I have a small bag of MATIC and I farm "ADDY" which is the governance token of Adamant Finance (Bullish about ADDY due to adoption of a lot of antidump strategies and ETH because it is obvious). LP value will increase over time. Impermanent loss is ok because ultimately the objective is to sell and buy back more MATIC.
a.1.) Deposit MATIC in Aave.
b.1.) Deposit the amWMATIC token in the "YIELD" section of qiDAO to create a "camWMATIC" token (NFT Receipt on Opensea)
c.1.) Go to vaults and create a Vault using your camWMATIC
d.1.) Borrow 30% worth of your camWMATIC value (Safe) in miMATIC tokens.
e.1) Swap miMATIC for USDC on Quickswap, and swap USDC for 50% ADDY, 50% ETH
f.1.) Create an LP token of ADDY/ETH
g.1.) Deposit this LP token on Adamant Finance (Auto compounder) ~ 300% APR i.e. 90% ROI on initial MATIC collateral
h.1.) Extra APY (Optional)  Lock ADDY for boost once the vesting period (91 days) is over
OR
a.2.) Deposit MATIC in Aave.
b.2.) Borrow 33% worth of USDT (Best to borrow as it has the highest risk and FUD levels)
c.2.) Swap USDT for wETH
d.2.) Swap 50% wETH for ADDY and create an ADDY/ETH LP token and supply in Quickswap
e.2.) Deposit this LP token on Adamant Finance (Auto compounder) ~ 300% APR i.e. 90% ROI on initial MATIC collateral
f.2.) Extra APY (Optional)  Lock ADDY for boost once the vesting period (91 days) is over.
When you want to exit the strategy:
1) Withdraw LP from Adamant Vault and also from Quickswap
2) Sell ADDY and ETH for MATIC
3) Repay miMATIC or USDT loans
4) Keep the profits