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Rai Reflex Index

RAI

Price
$2.82
12/3/2022, 4:53:48 PM
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Market

Market stats

Market cap

$10.1M

Volume (24h)

$404,917.43

Circulating supply

3.6M RAI

Typical hold time

6 days

Trading activity

Not enough data

Popularity

#205

All time high

$4.19

Price change (1h)

-0.2%

Price change (24h)

-0.01%

Price change (7d)

-0.12%

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Rai Reflex Index is on the decline this week.

The price of Rai Reflex Index has fallen by 0.12% in the past 7 days. The price declined by 0.01% in the last 24 hours. In just the past hour, the price shrunk by 0.20%. The current price is $2.82 per RAI. Rai Reflex Index is 32.58% below the all time high of $4.19.

The current circulating supply is 3,566,547.322 RAI.

About

RAI is an Ethereum token that aims to maintain a stable value. The RAI-USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de- or re-valuing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).

What Is Rai Reflex Index (RAI)?

Rai Reflex Index (RAI) is the first stablecoin on the Reflexer platform that is a fork of Maker. RAI is a non-pegged, stable asset that is solely collateralized by ETH. RAI aims to reduce ETH’s price moves and provide a more “stable” alternative to Ether as DeFi collateral. Reflexer is a platform where users can use their crypto collateral to issue reflex indexes (non-pegged stable assets).

Reflexer aims to build a governance-minimized and non-pegged stable asset community that is completely detached from traditional currency. Hence, Reflexer has developed the GEB protocol, a smart contract framework that facilitates the creation of stable assets through autonomous stabilization by a PID controller. The PID (proportional integral derivative) controller is a class of controllers that influences the future values of a time series. A PID controller adapts continuously even when no predictions are available. The term P is a way of referring to the immediate measurement, while the term I refers to the past. The D term refers to the expected changes in the future. The RAI platform aims to use the PID controller to maintain market price stability.

RAI's monetary policy is managed by an on-chain, autonomous controller that offers the advantage of flexibility. Due to the flexibility, RAI can be devalued or revalued by the protocol in response to changes in RAI's market price. This process transfers value between RAI holders and SAFE token users. SAFE token users generate RAI with their ETH, and RAI holders hold, speculate on, or use RAI in other protocols and apps. This transfer rewards both parties to bring back the market price to a target chosen by the protocol. 

For RAI, Reflexer aims to have the following use cases:

  1. Portfolio diversification: The RAI blockchain aims to offer dampened exposure to ETH's price moves.

  2. Source of yield: Traders can earn yield when RAI's market price follows the redemption price (the price that the protocol wants RAI to have on the secondary market).

  3. DeFi collateral: RAI aims to be used as alternative collateral or ETH supplement in DeFi protocols due to the fact that it gives users more time to react to market shifts and dampens Ether’s price moves.

  4. DAO reserve asset: DAOs can keep RAI on their balance sheet and get exposure to ETH without being affected by the full market swings. 

Reflexer has an ungovernance token, FLX, and has decentralized security incentives through FLX. Through the principle of ungovernance, the platform aims to remove human control from the RAI system and make it socially scalable.  

History of Rai Reflex Index (RAI)

Reflexer Labs are the creators of RAI. The Reflexer Labs team includes Ameen Soleimani and Stefan Ionescu. Ameen Soleimani is the cofounder of SpankChain, an Ethereum-based micropayment processor, and Stefan Ionescu worked previously at Binance X in research and development.

How to Buy Rai Reflex Index (RAI) Token

The RAI token can be traded at an exchange, including Coinbase. It’s easy, secure, and safe. 

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FAQ

What is the current price of Rai Reflex Index?

The price of 1 Rai Reflex Index currently costs $2.82.

What is the market cap of Rai Reflex Index?

The current market cap of Rai Reflex Index is $10.08M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Rai Reflex Index?

The all-time high of Rai Reflex Index is $4.19. This all-time high is highest price paid for Rai Reflex Index since it was launched.

What is the 24 hour trading volume of Rai Reflex Index?

Over the last 24 hours, the trading volume of Rai Reflex Index is $404.92K.

What other assets are similar to Rai Reflex Index?

Assets that have a similar market cap to Rai Reflex Index include pNetwork, Arcblock, Vertcoin, and many others. To see a full list, see our comparable market cap assets.

How many Rai Reflex Index are there?

The current circulating supply of Rai Reflex Index is 3.6 million.

What is the typical holding time of Rai Reflex Index?

The median time that Coinbase customers hold Rai Reflex Index before selling it or sending it to another account or address is 6 days.

What is the relative popularity of Rai Reflex Index?

Rai Reflex Index ranks 216 among tradable assets on Coinbase. Popularity is currently based on relative market cap.