1. Who is the interested party for this collateral application?
2. Provide a brief high-level overview of the project, with a focus on applying collateral token.
After launching in February, over $100m worth of RAI has been minted with more than $300M worth of ETH deposited in the protocol. RAI has managed to stabilize using its on-chain PID controller and is now undergoing a governance minimization process with the intention to calcify the protocol.
RAI Redemption Price:
3. Provide a brief history of the project.
RAI was created as an alternative to USD-pegged stablecoins and as an experiment in peg-less stability. The project began as a ethresear.ch post by Ameen Soleimani, and was then picked up and built into the system we see today by the newly formed Reflexer Labs Team.
4. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.
5. Link any available audits of the project. Both procedural and smart contract focused audits.
6. Link to any active communities relating to your project.
7. How is the applying collateral type currently used?
RAI is used in a variety of ways:
- Trust-minimized, stable asset used to hedge against volatility
- Payment mechanism
- Collateral for DeFi protocols like Aave v2, CREAM and Rari Capital Fuse
- Interest rate tranching in BarnBridge
- Reserve asset (Fei Protocol, Metacartel Ventures treasury)
8. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?
The Reflexer Labs team currently bears legal responsibility for the RAI collateral and is a US based company.
9. Where does exchange for the asset occur?
Decentralised exchanges such as Uniswap v2 and v3 as well as Coinbase Pro.
10. (Optional) Has your project obtained any legal opinions or memoranda regarding the regulatory standing of the token or an explanation of the same from the perspective of any jurisdiction? If so, those materials should be provided for community review.
11. (Optional) Describe whether there are any regulatory registrations for the token and provide related documentation (including an explanation of any past or existing interactions with any regulatory authorities, regardless of jurisdiction), if applicable.
12. (Optional) List any possible oracle data sources for the proposed Collateral type.
Chainlink RAI/ETH price feed which can be found here.
13. (Optional) List any parties interested in taking part in liquidations for the proposed Collateral type.