Description
Reflexer Labs has developed RAI, an Ethereum-based stablecoin not pegged to any national currency, relying instead on an innovative on-chain stability mechanism. This mechanism, involving Reflex Bonds (FLX), allows users to use their Ethereum assets to mint RAI. The system self-regulates without external interventions to ensure RAI's stability. Reflexer stands out in the DeFi space by focusing on a stable, decentralized asset that reduces exposure to crypto and fiat volatility. Users can engage in governance via the FLX token, which also acts as a lender of last resort through mechanisms like surplus and debt auctions. With around 193,800 FLX tokens circulating, it supports protocol operations and employs "ungovernance," minimizing governance to allow community management. Pioneered by Nikolai Mushegian, reflex-bonds provide a hedge against significant market fluctuations, marking Reflexer as an important financial stability instrument.
Reflexer Labs has developed RAI, an Ethereum-based stablecoin not pegged to any national currency, relying instead on an innovative on-chain stability mechanism. This mechanism, involving Reflex Bonds (FLX), allows users to use their Ethereum assets to mint RAI. The system self-regulates without external interventions to ensure RAI's stability. Reflexer stands out in the DeFi space by focusing on a stable, decentralized asset that reduces exposure to crypto and fiat volatility. Users can engage in governance via the FLX token, which also acts as a lender of last resort through mechanisms like surplus and debt auctions. With around 193,800 FLX tokens circulating, it supports protocol operations and employs "ungovernance," minimizing governance to allow community management. Pioneered by Nikolai Mushegian, reflex-bonds provide a hedge against significant market fluctuations, marking Reflexer as an important financial stability instrument.
