As RAI is edging closer to being fully autonomous, we at Reflexer wish to paint a picture of the future we’d like to see manifest for RAI.
RAI is the first ‘real stablecoin’, a free-floating asset backed by the most pristine collateral in the world: ETH. We’ve always intended for this one-of-a-kind creation to serve the Ethereum community as a whole. In order to better understand the potential breadth of RAI’s impact, it is necessary for us to introduce the Money God League — an initiative meant to bring non-pegged stable assets into the mainstream. The core beliefs of this collective are — firstly, that there is enough room within DeFi for more than just one real stable asset, and secondly, that groundbreaking innovation is achieved through collaboration. With each new stable asset there’s a new use-case that will emerge, and we believe that it is only through nurturing mutual growth that the crypto space can truly reach its full potential.
Since October 2021, there have been two projects that joined the League, two new Money Gods if you will — H2O and VOLT. Where RAI is backed solely by ETH, H2O plans to onboard OCEAN and datatokens as collateral which are sourced from the Ocean Protocol. Moreover, VOLT plans to go down the multicollateral route starting with OHM (the Olympus DAO token) and then diversify with Rari Capital Fuse receipts in the future.
Essentially, each Money God could be plotted onto a spectrum depending on its comparable traits. RAI sits at one end, which represents the safest possible collateral with minimised governance and a heavy focus on being the most secure stable asset possible. VOLT and H2O for instance, plan to move along the decentralisation spectrum whilst still remaining close to the initial RAI vision of removing human control where possible. Having such a broad variation of stable assets will open up many avenues, –many of which have yet to be imagined –, thus expanding the Reflexer network and allowing more teams to explore its different branches.
The Reflexer community is currently onboarding more projects to build their own RAI variations as a means to encourage diversification within the stable asset landscape.
