Not many people know that RAI is essentially DAI with TRFM activated.
A very rough explanation: a mechanism designed to track the volatility of the underlying collateral and apply it to the loan’s interest rate, along with a few other dynamics.
TRFM was originally developed by the MakerDAO team as a way to deal with negative interest rates.
It was very interesting to see this in action. Farewell, RAI.
The Global Settlement process has begun!
There is a 28-day delay from when the proposal is started to when we can begin the actual shutdown. In 28 days we will trigger the shutdown. Once triggered, there is a 4-day cooldown, and then users can start redeeming!
The expected date when redemptions will become available is June 14th.
We’ll share more information in the coming days on what Global Settlement is and what users can expect from it.
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