From $ETH to $RAI and to $USDC: Here are what moves Vitalik Buterin is making on the market and why
The Reflexer protocol is a decentralized stablecoin platform that aims to bring more stability to users in the cryptocurrency space. The platform uses RAI, which is an ETH-backed stablecoin, to achieve this objective. RAI is designed to be more stable than BTC or ETH, which are known to be highly volatile.to USDC is significant for a few reasons. First, it shows that even the co-founder of Ethereum is looking for ways to reduce his exposure to the volatility of the cryptocurrency market.
Buterin's move also shows that even the most influential players in the cryptocurrency space were taking advantage of the USDC depeg as it was almost certain that the mechanism behind it will lead to the redemption of the $1 peg.
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