Market Cap:
$1 613 224 898 870
(▼2.68%)
- Volume 24h: $102 671 773 465 (6.36%)
- Market Cap Change 24h: ▼2.68%
- BTC dominance: 44.71%
Reflexer Ungovernance Token
FLX
CMC Rank: 840
- USD: $199.6
1h: ▼0.04% 24h: ▼3.6% 7d: ▼4.23%
- BTC: 0.0051 BTC
All Time High: $1 840 3 years ago
Current price is -89 % from ATH
Current price is -89 % from ATH
- Cap: $11 493 532
- Vol 24h: $68 443 (0.60 %)
- Circulating: 57 578 FLX (5.8 %)
- Total: 1 000 000 FLX
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About Reflexer Ungovernance Token
The RAI (Reflexer) ecosystem aims to decentralized security incentives through the Reflexer ungovernance token, FLX.
FLX will have two different core functions:
- Lender of last resort: similar to other models such as the Maker protocol, the RAI system will have surplus and debt auctions. Debt auctions will autonomously mint and auction new FLX in case the system is underwater.
- Ungoverning the RAI system: once the vast majority of governance capabilities are completely removed from the system, the community will be able to decide on how, when and if to securely governance minimize any remaining components. FLX will facilitate further ungovernance and allow the community to take decisions on how to remove themselves from discretion over the protocol.
FLX will have two different core functions:
- Lender of last resort: similar to other models such as the Maker protocol, the RAI system will have surplus and debt auctions. Debt auctions will autonomously mint and auction new FLX in case the system is underwater.
- Ungoverning the RAI system: once the vast majority of governance capabilities are completely removed from the system, the community will be able to decide on how, when and if to securely governance minimize any remaining components. FLX will facilitate further ungovernance and allow the community to take decisions on how to remove themselves from discretion over the protocol.
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