Rank #547
2,098 people like this
rai reflex index  (RAI)

Rai Reflex Index (RAI)

$3.01 0.0%
0.00006588 BTC 4.8%
0.00093971 ETH 6.7%
2,098 people like this
$2.95
24H Range
$3.04
Market Cap $54,589,482
24 Hour Trading Vol $1,386,569
Total Value Locked (TVL) $160,753,290
Market Cap / TVL Ratio 0.34
Circulating Supply 18,061,838
Total Supply ?
Max Supply ?
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RAI
USD
USD
Rai Reflex Index (RAI) Price Chart

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RAI Price and Market Stats

RAI Price $3.02
Market Cap $54,589,482
Market Cap Dominance 0.00%
Trading Volume $1,390,054
Volume / Market Cap 0.0255
24h Low / 24h High $2.95 / $3.04
7d Low / 7d High $2.98 / $3.12
Market Cap Rank #547
All-Time High $4.19 -27.9%
Feb 18, 2021 (7 months)
All-Time Low $2.35 28.4%
May 19, 2021 (4 months)

Rai Reflex Index Coin Price & Market Data

Rai Reflex Index price today is $3.01 with a 24-hour trading volume of $1,386,569. RAI price is up 0.0% in the last 24 hours. It has a circulating supply of 18 Million RAI coins and a total supply of ?. If you are looking to buy or sell Rai Reflex Index, Uniswap (v2) is currently the most active exchange.

What is RAI?

 

RAI is a non pegged, ETH backed stable asset built by Reflexer. It is the first asset of its kind that, instead of being pegged to a specific target such as the USD, it freely floats while it’s being influenced by market forces. RAI’s mission is to become a crypto native and governance minimized stable asset that is detached from fiat.

What is Reflexer?

Reflexer is a smart contract lending platform that allows anyone to use their crypto collateral and take out loans in the form of RAI. It was founded by Reflexer Labs in mid 2020 as an initiative to introduce control theory in the crypto space and revive the old vision that was supposed to be implemented for DAI: build a stable currency with no peg and managed by an on-chain, smart contract based controller.

In October 2020 Reflexer launched a mainnet demo called Proto RAI (PRAI). The demo showed for the first time how an on-chain PID controller can stabilize a currency. After the PRAI demo ended, in February 2021, Reflexer phased out RAI. As of April 2021, the platform has more than $300M worth of ETH locked and RAI’s market price exceeds $100M.

What can RAI do? RAI is a unique stable currency that has an intrinsic rate which can be either positive or negative. Holders and traders can take advantage of this rate while at the same time stabilize RAI. RAI is also integrated with money markets such as CREAM and can be used on platforms such as Gitcoin and OpenSea. Further reading on RAI’s use-cases and benefits can be found in Reflexer’s documentation.

Anyone is free to verify RAI’s source code as well as check the progress toward making RAI governance minimized.

How can I obtain Rai?
 

Anyone can obtain RAI in three main ways: i) mint it using a Reflexer Safe, ii) borrow it from a secondary market or iii) buy it from an exchange such as Uniswap.

Minting Rai incurs debt as well as exposes the minter to the effects of the redemption rate, which is the rate at which Rai is de or revalued. More information on the redemption rate as well as on Rai’s behaviour can be found in this FAQ.

If someone decides to mint Rai, it’s important that their Safe maintains a collateralization ratio above the liquidation ratio. If the Safe’s collateralization ratio goes below the liquidation ratio, it will be liquidated and a liquidation penalty will be imposed on top of the minted debt.

Where can I learn more about Rai?

To learn more about RAI and Reflexer, you can read the official documentation and the whitepaper.

Rai Reflex Index News & Guides

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