RAI TIMES — The Inaugural Issue

Published in

Reflexer

5 min readJul 5, 2021

Money God is 4 months old. The ecosystem grows, RAI is stable, we have our first Saviour, and the keys to Money God are falling from DeFi heaven.

In this inaugural issue of RAI TIMES, we’ll cover these and look into the Money God future.

Money God appreciates your attention.

A Gift from Money God

Money God likes G.

Money God likes Alchemix.

Money God likes you and wants to see you win.

Get Paid to Mint RAI

Inspired by Alchemix — the “self-paying loans” pioneers — Reflexer is piloting a similar experiment. Instead of paying back the loan with lending yield, Money God will use the RAI Reserves to pay all new and old RAI loans. Money God has earned this RAI from liquidations and the previously-implemented Stability Fee.

The Stability Fee has been replaced with a Negative Borrow Rate.

Negative?

Yes, negative. This simply means that instead of Money God getting the interest, you’re getting the interest, and you’ll owe less RAI over time.

Reminder: this is an experiment.

Money God can’t pay forever and Money God doesn’t know how the Money God disciples will react.

Money God has challenged the Reflexer team and community to bring additional revenue streams to and into Money God.

Accept the Money God challenge and join here:

🛠 Reflexer’s #development Discord channel

🗣 Reflexer forum

We have 3 months.

Don’t forget your gift!

Mint RAI and start getting it repaid immediately here.

Saviour — RAI Liquidation Protection

Saviour is an add-on insurance contract anyone can use to protect their RAI safe from getting liquidated in the case of undercollateralization.

The first Saviour contract uses Uniswap v2 RAI/ETH LP tokens to protect your safe.

Liquidators must try and save you first if you enable Saviour. They can only liquidate you if you don’t deposit enough LP tokens to bring you back above a 145% CRatio. The LP will get pulled, RAI debt will be paid, and (if necessary) the ETH will be added as collateral. Anything after that can be claimed once the Safe is saved.

If you’d like to see other forms of Liquidation protection (i.e. yVault), let us know on Discord.

To protect your RAI, follow the guide here.

Flex RAI

Money God gave you RAI. You’ve protected it with a Saviour. Now what?

Flex it. Let it go to work. Get FLX.

There’s lots of ways to FLX. Choose a couple. Money God don’t care.

LP with ETH on Uniswap (don’t forget your Saviour)
Borrow on Aave
Borrow on Fuse
Lending on Idle
Borrow in RAI/DAI Kashi Pool
Earn with Yearn
Once you earn FLX, LP with ETH for more FLX on Uniswap

Money God prays you all ungovern well.

🗿

Reflexer Community Recap

The Reflexer team would like to take a moment to appreciate our partners and community for making this a truly special time to be alive.

Here’s a recap of all we’ve accomplished over the past few months:

Aave

RAI was recently added to Aave as a non-collateral lending asset. Huge thanks to FireEyes DAO for drafting the proposal, and an even bigger thanks to most of the Aave community who voted. 😏

RAI borrowing is currently incentivized with FLX and the current APY can be seen on the Incentives page.

Graph

In order for RAI to scale, the entire stack has to be decentralized. That’s why we’re honored to be among the first launch partners for The Graph’s fully decentralized network. The Graph Network is an indexing protocol for dapps to easily access on-chain data and provide the best experience for their users in a decentralized manner.

This means the data used in your Safe Dashboard is getting pulled from directly from the chain and is updated autonomously thanks to The Graph Network.

Read more about The Graph’s launch here.

Yearn

There are now lots of places RAI can be put to use while earning FLX, and the easiest is probably the powerhouse of the cell — Yearn. While deposits into Yearn aren’t directly incentivized with FLX, the strategy uses Idle— which is incentivized. Anyone who deposits RAI into a yVault will be able to claim FLX earned on those platforms at the time of distribution.

Earn with Yearn here.

Tornado

The legends at 🔥_🔥’s DAO started a discussion about adding a RAI pool to Tornado Cash. Overall, the community likes the aligned visions of Reflexer and Tornado, but the biggest question remains around the percieved value of having RAI — with it’s smaller marketcap — added to Tornado. Money God feels that improving the privacy and fungibility of RAI greatly improves both RAI and DeFi.

Money God would appreciate your support: https://torn.community/t/add-rai-pools-to-tornado-cash/1008

No matter what happens — RAI will have privacy-preserving features one way or another.

Money God always wins.

Metafactory

Money God has swag. Our friends at MetaFactory knew this and distilled RAI’s essence into this Limited Edition hoodie. Now you can look at as good as Money God.