Ethereum founder Vitalik Buterin thinks RAI, the primary stablecoin on the Reflexer platform, might be an activist for minority Liquid Staking Derivatives (LSDs). He additionally believes the rise of RAI may resolve Lido’s dominance within the LSD ecosystem. Lido controls over 30% of all the LSDs within the crypto market.
immediately @VitalikButerin stopped by the @reflexerfinance discord to share his ideas on what Makers endgame means for RAI
he thinks RAI might be an activist for minority LSDs
a solution to Lido controlling 30%+
this may require extra management than we’ve got over RAI..
rn
1/x pic.twitter.com/Fxb8Ph8Jq9
— reza.eth 🌥️ (@rezajafery) September 3, 2023
Buterin expressed his opinion whereas collaborating in a dialogue on the Reflexer Finance discord. In accordance with the Ethereum founder, RAI’s activist governance might not must go all the best way. It might be sufficient if the RAI group does extra activist governance to help staked ETH and deliberately settle for solely non-dominant types of staked ETH.
In additional clarification, Buterin famous that his current place detaches from a earlier concept of the stablecoins ecosystem. He thinks that RAI can tackle the minimalistic area of interest, the place MakerDAO stays the main mission within the first area of interest. Nonetheless, he believes if MakerDAO torpedoes itself in bizarre instructions, then RAI may naturally transfer nearer to the center class.
Considered one of RAI’s staff members recognized at Reza.eth on X (Twitter) that Buterin’s ideas align with the plans of the mission’s staff. In accordance with him, there’s a want for extra governance to help minority LSDs. By the way, it’s essential to reset the system through a worldwide settlement to realize extra governance.
The RAI staff member additionally acknowledged that Buterin’s feedback arrived at an attention-grabbing time. It got here a couple of days after the DAO submitted a proposal to Tally, a platform that powers on-chain protocols, treasuries, and public items, to fund the creation of a worldwide settlement person interface (UI).
Reza believes creating a worldwide settlement UI is step one in triggering a good and easy international settlement course of. In his opinion, the staff’s concept is to create a future the place Reflexer Finance could be the change everybody desires to see and a motion that helps minority LSDs.
