We believe Ethereum needs its own native, stable unit of account that is independent from fiat. We’re on a mission to build that. Reflexer Labs is a distributed team building open-source software and on-chain autonomous controllers for the decentralized finance ecosystem. RAI is an ETH backed stablecoin with a managed float regime. The RAIUSD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de or revaluing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).