Rai Reflex Index (RAI) price has increased today.
The price of Rai Reflex Index (RAI) is $2.71 today with a 24-hour trading volume of $88,725.39. This represents a 0.50% price increase in the last 24 hours and a -0.60% price decline in the past 7 days. With a circulating supply of 2.5 Million RAI, Rai Reflex Index is valued at a market cap of $6,768,810.
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 you buy Rai Reflex Index?
RAI tokens can be traded on decentralized exchanges and centralized crypto exchanges. The most popular exchange to buy and trade Rai Reflex Index is Curve (Ethereum), where the most active trading pair RAI/3CRV has a trading volume of $13,700.90 in the last 24 hours. Other popular options include Gate.io and Uniswap V3 (Ethereum).
What is the daily trading volume of Rai Reflex Index (RAI)?
The trading volume of Rai Reflex Index (RAI) is $88,725.39 in the last 24 hours, representing a 111.10% increase from one day ago and signalling a recent rise in market activity.
What is the all-time high for Rai Reflex Index (RAI)?
The highest price paid for Rai Reflex Index (RAI) is $4.19, which was recorded on Feb 18, 2021 (over 2 years). Comparatively, the current price is -35.20% lower than the all-time high price.
What is the all-time low for Rai Reflex Index (RAI)?
The lowest price paid for Rai Reflex Index (RAI) is $2.47, which was recorded on Mar 11, 2023 (7 months). Comparatively, the current price is 9.70% higher than the all-time low price.
What is the market cap of Rai Reflex Index (RAI)?
Market capitalization of Rai Reflex Index (RAI) is $6,768,810 and is ranked #1035 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of RAI tokens (2.5 Million tokens are tradable on the market today).
What is the fully diluted valuation of Rai Reflex Index (RAI)?
The fully diluted valuation (FDV) of Rai Reflex Index (RAI) is $6,768,810. This is a statistical representation of the maximum market cap, assuming the maximum number of 2.5 Million RAI tokens are in circulation today. Depending on how the emission schedule of RAI tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of Rai Reflex Index compare against its peers?
With a price decline of -0.60% in the last 7 days, Rai Reflex Index (RAI) is outperforming the global cryptocurrency market which is down -2.60%, while underperforming when compared to similar Polygon Ecosystem cryptocurrencies which are up 0.00%.
What is the market sentiment of Rai Reflex Index today?
There are no votes on Rai Reflex Index (RAI) today. Be the first to vote and share this with your community.
How to add Rai Reflex Index (RAI) to MetaMask?
Adding Rai Reflex Index (RAI) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import RAI as a token. You can copy RAI’s contract address (0x03ab458634910aad20ef5f1c8ee96f1d6ac54919) and import it manually, or if you've installed MetaMask's chrome extension, add RAI to MetaMask with one click on CoinGecko.
Add RAI to MetaMask.