What is the current price of Rai Reflex Index (RAI)?

The current price of Rai Reflex Index (RAI) is 4.716357309313317 AUD, representing a -0.63 from the day prior.

Can I buy Rai Reflex Index (RAI) on Coinstash?

Yes - you can easily buy and sell Rai Reflex Index (RAI) on Coinstash. Simply login or sign up, to start buying Rai Reflex Index (RAI) in minutes.

Where is the best place to buy Rai Reflex Index (RAI) in Australia?

The best place to buy Rai Reflex Index (RAI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Rai Reflex Index (RAI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of Rai Reflex Index (RAI)?

The trading volume of Rai Reflex Index (RAI) is 92.7K AUD in the last 24hrs, representing a -0.63 from the day prior.

How can I buy Rai Reflex Index (RAI)?

Rai Reflex Index (RAI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of Rai Reflex Index (RAI)?

The current market cap of Rai Reflex Index (RAI) is 3.8M AUD.

Can I convert Rai Reflex Index (RAI) to cash?

Yes - With Coinstash you can convert your Rai Reflex Index (RAI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many Rai Reflex Index (RAI) are there?

The current circulating supply of Rai Reflex Index (RAI) is 798.8K.

Is Coinstash a safe place to buy Rai Reflex Index (RAI) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Rai Reflex Index (RAI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy Rai Reflex Index (RAI)

What is Rai Reflex Index?

Rai Reflex Index (RAI) is a non-pegged, Ethereum-backed stable asset developed by Reflexer. Unlike conventional stablecoins that are pegged to a fiat currency like the US dollar, RAI is designed to float freely, driven by market forces, while aiming to mitigate volatility more effectively than traditional cryptocurrencies.

How does Rai Reflex Index work?

RAI operates on the Ethereum blockchain and employs a decentralized mechanism for maintaining stability. The system adjusts the supply dynamically through a mechanism that reacts to on-chain market activity, ensuring that the market price follows the redemption price set by the protocol. This is achieved without a direct 1:1 peg to any fiat currency. Users can mint RAI by locking up ETH as collateral in smart contracts. The governance and management of the protocol are decentralized, involving no central authority.

What are the potential use cases for Rai Reflex Index?

RAI has several use cases, particularly in the DeFi sector:

As Collateral: It can be used as stable collateral in decentralised finance protocols, providing an alternative to more volatile assets like ETH or BTC.
Portfolio Diversification: By offering a low-volatility option, RAI can help diversify crypto portfolios.
Trading and Investment: It can be traded on various exchanges and used within DeFi platforms for various financial operations.
DAO Reserve Asset: RAI can be used as a stabilising asset on DAOs' balance sheets to mitigate exposure to ETH's volatility.
Stable Asset with Interest: Serving as a stable store of value, it offers an embedded interest rate which can be attractive to users seeking returns in a decentralized manner.

What is the history of Rai Reflex Index?

RAI was developed by Reflexer Finance and was launched on 13 February 2021. It was created by Stefan Ionescu and Ameen Soleimani, initially as a fork of MakerDAO’s DAI, but with significant innovations such as a floating price mechanism and the use of interest rates to influence market prices. The platform allows users to mint RAI tokens using ETH collateral, maintaining stability through the liquidation of collateralized debt positions. RAI has evolved to become a recognised decentralized stablecoin, supported by a community-driven governance structure, which is managed through the FLX token.