Reflexer Finance to Release Optimism-Based RAI Fork Project HAI

On April 24th, it was announced that Reflexer Finance will release the Optimism based RAI fork project HAI on Optimism, with an initial anchor price of $1. The collateral types of HAI include LSD such as ETH, RAI, stETH/rETH, as well as assets on Optimism such as OP and UNI. The project is expected to start testing the network on June 9th, and the main network is expected to start by the end of July.

Reflexer Finance announces the launch of decentralized stable currency HAI on Optimism

Introduction

On April 24th, Reflexer Finance announced the launch of its HAI project on Optimism, with an initial anchor price of $1. The project will use Ethereum-based synthetic assets, with a focus on minimizing volatility and reducing the risk of liquidation for users. This article provides an overview of the project, including its key features, collateral types, and expected timeline.

Key Features

The HAI project is based on the RAI stablecoin, which is designed to maintain a stable value without relying on external collateral. By using an algorithmic design derived from the concept of “reflex bonds,” RAI is able to maintain its $1 peg even during volatile market conditions. The HAI project builds on this design by introducing additional functionality on the Optimism network, including faster transactions and lower fees.

Collateral Types

In addition to RAI, HAI will also support a range of other collateral types. These include ETH, stETH/rETH (an ETH staking derivative), and assets on Optimism such as OP and UNI. By supporting a diverse range of collateral types, the HAI project aims to minimize risk for users while still providing a stable and reliable form of value.

Expected Timeline

The HAI project is scheduled to begin testing on the Optimism network on June 9th, and the main network launch is expected by the end of July. This timeline is subject to change, but the project team is committed to delivering a stable and user-friendly platform as quickly as possible.

Conclusion

The HAI project represents an exciting new development in the world of synthetic assets and stablecoins. With its focus on minimizing volatility and reducing risk, HAI has the potential to become a key tool for investors and traders alike. By using Ethereum-based synthetic assets and implementing additional features on the Optimism network, Reflexer Finance is paving the way for a more resilient and efficient financial ecosystem.

FAQs

1. What is the anchor price of HAI?
The initial anchor price of HAI is $1.
2. What collateral types does HAI support?
HAI supports a range of collateral types, including ETH, RAI, stETH/rETH, and assets on Optimism such as OP and UNI.
3. When is the main network launch expected?
The main network launch of HAI is expected by the end of July.