STABLE OR GONE Stablecoin history, events, and sources
Stablecoin record

RAI Reflex Index

ETH-backed floating-target asset issued by the Reflexer protocol. RAI uses a protocol redemption price and rate to damp market-price deviations without maintaining a fixed USD peg.

LifecycleActive
Events2
Sources5
Overview
SymbolRAI
Asset classStable Value Asset
Reference targetFloating
Redemption / exit modelProtocol Redemption
Valuation sourceRAI market price and protocol redemption price
Yield / rebase profileVariable Rate · Accrual: Protocol Position
Classification notesETH-backed floating-target asset. It must not be represented as a one-dollar peg.
Lifecycle statusActive
Issuance statusProtocol Based
Peg referenceFloating · RAI_REDEMPTION_PRICE
Backing typesCrypto Collateral
StabilizationProtocol Arbitrage
GovernanceProtocol Governed
Primary organizationReflexer Labs / RAI
Primary roleProtocol Operator
Last reviewed2026-06-14
Organizations and roles
OrganizationRoleFromUntilRelationship status
Reflexer Labs / RAIProtocol Operator2021-02-17—Active

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Reflexer Labs / RAI

Protocol Ecosystem · Unknown

Event history

2 events connected to this stablecoin.

Reserve profile
Disclosure statusProtocol-transparent
Backing typesCrypto Collateral
SummaryRAI is generated against protocol-approved crypto collateral, historically ETH, through Reflexer SAFE positions. Collateralization and liquidation state are protocol-transparent rather than represented by an issuer reserve account.
As of2026-06-14
Profile confidenceMedium
Redemption profile
Current statusProtocol Based
Settlement assetProtocol collateral under SAFE repayment or Global Settlement rules
Eligible partiesSAFE users and protocol participants subject to available contracts and settlement state.
Retail accessProtocol or Market Based
Institutional accessProtocol or Market Based
Minimum amountProtocol- and transaction-dependent.
FeeStability fees, redemption-rate effects, gas, liquidation, and market costs may apply.
Settlement timeProtocol- and network-dependent.
Regional limits
Record coverage
SectionEntries
Organizations1
Sources5
Reserve reports0
Regulatory notes0
Deployments1
Issuer-control actions0
Open questions2
Events2
Event timeline
DateEventTypeDetail kindRecovered
—RAI governance-minimization processGovernance TransitionMigration—
2021-02-17RAI launches on Ethereum mainnetLaunchMigration—
Reserve and attestation history
DatePublisherTypeAssets coveredRecord confidence
No reserve reports have been added yet.
Regulatory and official notices
DateTitleAuthority / publisherTypeSummary
No regulatory notes have been added yet.
Blockchain deployments
ChainStandardDeploymentStatusFreezeBlacklistControl eventsContractNotes
Ethereum—NativeActiveUnknownUnknown00x03ab458634910aad20ef5f1c8ee96f1d6ac54919Ethereum RAI address referenced by Reflexer integration documentation.
Sources
SourcePublisherTypeEvidence scopeReliability
RAI FAQReflexerProtocol DocsRai Floating Redemption Price and Protocol DesignHigh
Oracle RelayerReflexerProtocol DocsRai Redemption Price and Rate Contract MechanicsHigh
RAI settlement and redemption contextReflexerProtocol DocsRai Safe Repayment and Global Settlement ExitHigh
Governance Minimization GuideReflexerProtocol DocsRai Governance Minimization StagesHigh
RAI integrations and partnersReflexerProtocol DocsRai Ethereum Contract and Market IntegrationsHigh
Open questions
TopicWhat remains unclearPriorityLast checked
Governance and Parameter ControlCurrent automated, ungoverned, and maintained RAI components require contract-level normalization.High2026-06-14
Current Protocol AccessCurrent interfaces, collateral types, keeper infrastructure, and cross-chain representations require fresh verification.Medium2026-06-14