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Reflexer Labs Launched ETH Backed, Non Pegged Stable Asset RAI

Mary Liu

Summary: Blockchain startup Reflexer Labs announced that its Ethereum-based stablecoin RAI has been launched on the Ethereum mainnet.  Unlike DAI, USDC, and other stablecoins anchored with USD, RAI is a new type of stable asset that is not pegged to any fiat currency. Its stability is managed by an on-chain, autonomous controller. The announcement stated that during ...

Blockchain startup Reflexer Labs announced that its Ethereum-based stablecoin RAI has been launched on the Ethereum mainnet. 

Unlike DAI, USDC, and other stablecoins anchored with USD, RAI is a new type of stable asset that is not pegged to any fiat currency. Its stability is managed by an on-chain, autonomous controller.

The announcement stated that during the "Proto RAI" (PRAI) token test phase, no matter how the price of ETH changes, the price of RAI assets will not fluctuate more than 4%. The team also plans to launch a liquidity mining program and "non-government tokens."

By Mary Liu

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