Ethereum Inventor Announces: This Altcoin Can Solve Problems!

pointed out Ethereum founder Vitalik Buterin in a recent discussion on the Reflexer Finance Discord. The inventor of the leading altcoin ETH talked about the stablecoin called RAI and signaled that he was optimistic. Here are the details…

RAI statement from the altcoin inventor

Vitalik Buterin talked about RAI, the leading stablecoin on the Reflexer platform. He also shared his views on the coin’s potential role as a defender of minority liquid staking derivatives (LSDs). Buterin’s statements shed light on how RAI could reshape the landscape of the LSD ecosystem and reduce the dominance of Lido, which currently controls more than 30% of LSDs in the crypto market. Buterin emphasized that RAI’s path to activism does not necessarily require radical steps.

Instead, he noted that the RAI community could adopt more activist governance to support staked ETH. He also suggested that he might deliberately opt for non-dominant forms of staked ETH. He believes that this approach can bring significant changes to the LSD industry. It is noteworthy that Buterin’s current perspective differs from his previous views on stablecoin ecosystems. He predicts that RAI will occupy a minimalist niche and MakerDAO will continue to be the leader in the primary category. However, Buterin also predicts that if MakerDAO deviates from its course, RAI could naturally move towards a more central role.

Buterin believes RAI will solve LSD problems

A member of the RAI team, known on Twitter as Reza.eth, welcomed Buterin’s ideas and confirmed that they were in line with the project’s goals. The team member emphasized the need for greater governance to support minority LSDs, pointing out that a global agreement would be crucial to achieving this goal. Interestingly, Buterin’s comments coincided with a significant development for RAI. A few days ago, the DAO submitted a proposal for Tally, a platform that powers on-chain protocols, treasuries and public goods.

The proposal requested funding for the creation of a global settlement user interface (UI). Reza believes that creating a global settlement user interface represents the first step towards facilitating a fair and seamless global settlement process. It underlines the project’s commitment to being a catalyst for change in the cryptocurrency landscape by advocating for the interests of minority LSDs. In summary, Ethereum inventor Vitalik Buterin’s endorsement of RAI as a potential proponent for LSD marks a significant development in the cryptocurrency space. With the RAI community embracing activist governance and pursuing a global settlement UI, there may be a more inclusive and equitable LSD ecosystem in the future that challenges Lido’s dominance and pave the way for change.