What is Rai Reflex Index?
The Rai Reflex Index token or RAI is a stablecoin backed by ETH. It’s based on a “managed float regime”.
RAI is unique compared to other stablecoins on the market as it is not pegged to the value of another fiat currency. It’s the first stablecoin that’s not pegged to fiat.
One of the main goals of the entire Rai Reflex Index project is to become a type of digital asset that’s free from the influence of fiat currencies.
It’s an open-source project. This means that Reflexer source code is publicly available for anyone to review.
RAI can be minted on the Reflexer platform. The latter is a stablecoin minting platform. It’s important to note that users who mint on Reflexer are charged transaction fees and, if required, a stability fee and a redemption rate fee.
It’s important to keep in mind that users who mint must make sure that their collateralization ratio is over the liquidation ratio. Failure to do this will result in liquidation and a penalty fee.
In addition to minting RAI, users can acquire it via a secondary market or a supported exchange.
There is no max cap of RAI.
RAI is a cryptocurrency which means that, like many other cryptocurrencies, it goes through periods of volatility. To put it simply, the RAI price experiences fluctuations.
This makes it extremely important to do your research before making a purchase decision regarding any crypto project. In the case of RAI, you can start by checking out the Rai Reflex Index price on the graph above.
Furthermore, RAI announced a bug bounty program. This means that independent developers can scour the smart contracts for vulnerabilities and earn rewards by submitting proposals on how to eliminate them. The maximum reward reaches 100,000 US Dollars.
Who Developed Rai Reflex Index?
The Rai Reflex Index crypto project was launched in 2020 by Reflexer Labs.
Don’t forget to check out the graph above for more detailed information on the RAI price and its current trends.
