Pantera and Lemniscap have led a $4.4 million round for Reflexer Labs, the creator of a new gentlecoin, one that follows ETH’s price, minus the volatility. Several backers from its prior round followed on.

If a purely crypto token had an easily conceivable value relative to real products (for example, one token consistently equaled, say, four Snickers bars), that would meet the test of a “unit of account,” something that could be used to assess the value of goods.

“You don’t need to peg to anything in order to be stable,” founder Stefan Ionescu told CoinDesk in an email. “The most important thing to understand is that DeFi can and should be detached from the fate of the US Dollar. RAI is a first step in that direction.”

“Many stable assets in use today are pegged to fiat currencies, a design with many limitations. These networks have limited economic incentives that can be used to influence the market price of their native stablecoins,” Paul Veradittakit, partner at Pantera Capital, said in a press release.

Roderik van der Graaf, founder of Lemniscap, said in the release, “Reflexer is opening up a completely new design space in the realm of ‘stable’ cryptoassets.”




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Reflexer Labs Raises $4.4M to Build Out ETH-Backed Stable Asset, RAI

by Mario Herndon
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