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RAI Price Today
Rai Reflex Index price today is $3.07 with a 24-hour trading volume of $628,503. RAI price is down -0.1% in the last 24 hours. It has a circulating supply of 4.7 Million RAI coins and a total supply of ?. If you are looking to buy or sell Rai Reflex Index, KyberSwap (Polygon) is currently the most active exchange.
What was the highest price for Rai Reflex Index?
Rai Reflex Index hit an all time high of $4.19 on Feb 18, 2021 (over 1 year).
What was the lowest price for Rai Reflex Index?
Rai Reflex Index had an all time low of $2.93 on Jun 11, 2022 (20 days).
What was the 24 hour trading volume of Rai Reflex Index?
The 24 hour trading volume of Rai Reflex Index is $628,503.
Where can Rai Reflex Index be traded?
You can trade Rai Reflex Index on KyberSwap (Polygon), Coinbase Exchange, and LATOKEN. Popular trading pairs for Rai Reflex Index in the market includes RAI/USD, RAI/CAD, RAI/EUR, RAI/PHP, RAI/INR, and RAI/IDR.
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.
