The Reflexer Finance community has proposed a new initiative to launch the decentralized stablecoin $RAI fork project HAI on Optimism, with an initial anchor price of $1 US dollar, instead of an arbitrary value like $RAI's $3.14 US dollars. HAI's governance token will be called KITE.
HAI will enable KITE governance on the first day. Over time, 20% of HAI governance tokens (KITE) will be used to buy back and burn $FLX. Like $RAI, HAI will use a PI controller and may use similar parameters.
HAI's initial collateral types include $ETH and wstETH, and $OP is expected to be added as collateral in a short time. Other types of tokens such as $RAI, stETH/rETH, and other LSDs, $UNI, and other assets on Optimism can be added as collateral through governance in the future.
The proposal states that the testnet launch is expected on June 9th, and the mainnet launch is expected at the end of July.
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Stablecoins
DeFi
Optimism
