what's Reflexer?
Reflexer is a decentralized finance protocol that enables users to mint RAI, an innerly stable and non-pegged stablecoin backed primarily by ETH collateral. Unlike traditional stablecoins pegged to fiat currencies, RAI aims for stability through a dampening mechanism that reduces volatility relative to its collateral, using automated feedback loops inspired by control theory to maintain equilibrium without centralized governance or external price oracles for peg maintenance. The protocol operates via a system of vaults where users lock collateral to issue RAI, with redemption and stability fees adjusting supply dynamically. Reflexer emphasizes ungovernance, minimizing human intervention through on-chain parameters and incentives for keepers to maintain system solvency. It integrates with broader DeFi ecosystems for lending, trading, and liquidity provision, fostering a trust-minimized alternative to fiat-backed stables.
Reflexer gains public recognition from drjasper_eth as a non-centralized stablecoin with HAI & Liquity v2.
contract
ethereum
Received public recognition from drjasper_eth as a non-centralized stablecoin project alongside HAI and Liquity v2 forks.
Protocol announces shutdown of operations.
Redemption rate drops to -17.5%, indicating significant contractionary monetary policy adjustment.
Redemption rate drops to -13.655%, indicating significant negative pressure on protocol stability
Redemption rate at 1.403% following p-rate elimination, providing relief to borrowers.
FLX token reported approximately 4x increase in fully diluted market cap over the past month.