Rai Reflex Index
Stablecoin Profile
Rai Reflex Index (RAI) is a crypto-collateralised stablecoin: users mint RAI by locking other crypto assets as over-collateral, with $0 currently in circulation across 7 blockchain networks. The VAR peg is maintained through liquidation auctions when collateral value falls below required thresholds. Price feed sourced via defillama.
About Rai Reflex Index (RAI)
RAI is a collateralized, non-pegged asset with low volatility compared to its ETH collateral.
Users mint RAI by depositing ETH as collateral into Rai safes. When the loan is repaid to retrieve the collateral, the paid back RAI is burned.
Supply History
Peg stability history
As a crypto-collateralised stablecoin, Rai Reflex Index (RAI) maintains its 1.00 VAR target by holding excess on-chain collateral and routing redemptions through automated liquidation auctions. Spot price is currently $3.3017 (+230.175%); short-term excursions of this magnitude are typically arbitraged away within hours via the protocol's open mint/redeem mechanics.
How crypto-collateralised stablecoins defend their peg
Crypto-collateralised stablecoins like this one over-collateralise positions — borrowers must lock more than $1.00 of crypto for each $1.00 of stablecoin minted. If collateral value falls below the required ratio, the position is automatically liquidated in an open Dutch auction. Arbitrageurs can always mint and redeem against the protocol's contracts, which keeps the secondary-market price tightly bounded around $1.00. The main residual risks are sudden crypto-collateral crashes that outpace the liquidation engine, and oracle failure.
Practical implications for holders
- Collateral volatility is the dominant risk: a fast drawdown in the collateral asset can outpace liquidation auctions and leave the protocol under-collateralised.
- Oracle risk: the protocol relies on price feeds (typically Chainlink or a multi-oracle setup). Oracle manipulation or delay during volatile markets has historically caused peg excursions.
- Governance risk: parameter changes (collateral types, liquidation ratios, debt ceilings) are decided by token-holder votes. Sudden governance attacks remain a tail risk.
- On-chain transparency is a major advantage — collateral is verifiable 24/7 without trusting an attestor.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (crypto-collateralised) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
Rai Reflex Index (RAI) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0x03ab458634910aad20ef5f1c8ee96f1d6ac54919 | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare Rai Reflex Index to other crypto-collateralised stablecoins
Below are the largest crypto-collateralised stablecoins tracked on Mantapex alongside Rai Reflex Index (RAI). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Sky Dollar (USDS) | $8.4B | crypto-backed | 6 |
| Ethena USDe (USDe) | $5.9B | crypto-backed | 23 |
| Dai (DAI) | $4.6B | crypto-backed | 48 |
| Falcon USD (USDf) | $1.6B | crypto-backed | 2 |
| USDD (USDD) | $1.1B | crypto-backed | 4 |
Across mechanism classes
If you're researching RAI as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Peg Stability
Chain Distribution
Resources & data sources
Rai Reflex Index (RAI) is tracked across major crypto data providers. The links below open Rai Reflex Index (RAI)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent Rai Reflex Index news
Latest reporting from major crypto news outlets covering Rai Reflex Index.
- Reuters
Italy's RAI pushes for EI Towers contract extensions before RaiWay deal, sources say
Italy's RAI is pushing for EI Towers to extend contracts with broadcasters using its infrastructure before it merges with the state broadcaster's RaiWay to ensure longer-term…
- BeInCrypto
Top 3 AI Coins of The First Week Of March 2025
AI coins like Reploy (RAI), Alchemist AI (ALCH), and DOGEAI have seen strong market activity in the last seven days. Reploy, an Ethereum-based platform for LLM development, has…
- BeInCrypto
Top 5 AI Coins to Watch in February 2025
Artificial intelligence continues to be one of the most compelling narratives in the crypto market, driving interest in AI-focused projects. Despite recent corrections driven by…
- BeInCrypto
Why These Altcoins Are Trending Today — January 30
The cryptocurrency market has experienced a trend reversal, recording a 3% surge in market capitalization over the last 24 hours.
- BeInCrypto
Why These Altcoins Are Trending Today — January 28
Altcoins have been making headlines, with notable activity surrounding RAI, VVV, and MOCHI. RAI, the native token of Reploy, has seen a 15% decline over the past week as it builds…
- BeInCrypto
Why These Altcoins Are Trending Today — January 24
The cryptocurrency market has surged today, fueled by a 44% rise in trading volume over the last 24 hours. This comes after Thursday's decline in market activity, reflected by the…
- Invezz
SUI, Pudgy Penguins, and Rai Reflex Index in focus as Bitcoin teases $100k
As Bitcoin (BTC) tries to recapture the $100k level, the cryptocurrency market led by Sui (SUI), Pudgy Penguins (PENGU), and Rai Reflex Index (RAI) has come into life once again…
- Reuters
Oracle signs deal to use Italy's Rai Way data centres
Oracle has signed an accord with Rai Way to install its systems for artificial intelligence applications at the Italian infrastructure firm's data centres, the two companies said…
Related stablecoins
Stablecoins comparable to Rai Reflex Index by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other crypto-backed stablecoins
Stablecoins pegged to VAR
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.