Technically speaking, yes. You owe MAI to the protocol, so it's a debt. However, you shouldn't really consider the debt on Mai Finance as a debt. Indeed, you deposit something of value (your crypto assets) and in exchange, Mai Finance allows you to borrow a stable coin. You don't need to pay any interests on the funds you borrowed, and when you want to get your assets back, you pay a very small fee of 0.5% of what you borrowed, which is paid directly on the collateral.