Reflexer Finance Announces HAI, an Optimism-Based RAI Fork Project

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

On April 24th, Reflexer Finance made an announcement about its latest project, HAI. HAI is an Optimism-based RAI fork project that aims to provide a stablecoin that is more efficient, scalable, and less risky than its counterparts.

What is HAI?

HAI is a highly anticipated project by Reflexer Finance that aims to provide a stablecoin that is much more stable and efficient than its counterparts. The stablecoin is anchored to the value of $1 and is based on the RAI (Reflex Index) protocol, which stabilizes the exchange rate by automatically increasing and decreasing the stablecoin’s supply based on market conditions. The Optimism-based RAI fork project will use Layer 2 technology to reduce gas fees significantly, making it more scalable.

Project Details

Reflexer Finance plans to release HAI on Optimism. HAI aims to establish itself as a predictable and censorship-resistant stablecoin with a collateralization ratio of 200%. The project’s initial anchor price will be $1, and the collateral types include LSD such as ETH, RAI, stETH/rETH, as well as assets on Optimism such as OP and UNI.

Network Testing and Launch

The project is expected to start network testing on June 9th, 2021. The testing phase will help the development team to identify any potential bugs or issues and make the necessary changes before the main network launch. The main network is expected to launch by the end of July, which is exciting news for the DeFi community.

Benefits of HAI

HAI has distinctive features that make it stand out among other stablecoins. The following are the benefits HAI has to offer:

Stability

HAI is anchored to the value of $1, and the RAI protocol ensures that its value remains stable. This means that HAI has a reliable value that will not fluctuate as much as other cryptocurrencies.

Scalability

HAI is optimized for the Optimism network, which means that the stablecoin will be more scalable than other stablecoins. The Layer 2 technology aims to reduce gas fees significantly, making HAI more efficient and cost-effective.

Security

HAI is a project by Reflexer Finance, which has a notable reputation in the DeFi community. HAI provides censorship-resistant transactions, ensuring that users have full control of their funds.

Frequently Asked Questions (FAQs)

Q1: How does HAI differ from other stablecoins?

Unlike other stablecoins, HAI is optimized for the Optimism network, which means that it is more efficient, scalable, and less risky. This makes it stand out in the DeFi community.

Q2: What is the collateralization ratio for HAI?

HAI’s collateralization ratio is set at 200%, which is a higher ratio than most stablecoins.

Q3: When will the HAI project launch?

The HAI project is set to start testing on June 9th, 2021, and the main network launch is expected by the end of July.

Conclusion

The HAI project is an exciting development in the DeFi community. The project aims to provide a more stable, efficient, and scalable stablecoin to the community with a focus on improving security. The use of Layer 2 technology and the RAI protocol makes it a unique project that is worth keeping an eye on.