All About the Mysterious DeFi Protocol that Received $800K from Vitalik Buterin

Adekunle Joshua

A wallet address “labelled” as Ethereum founder, Vitalik Buterin’s, deposited 500 $ETH (worth $800,000) into Reflexer on Saturday, last week

The Reflexer protocol is a project that attempts to create stable, non-pegged assets investors can hedge by using their crypto as collateral, the first of which is RAI

Vitalik may have been interested in the protocol for this reason

Ethereum and RAI’s prices responded positively to this development

The Reflexer protocol, is a project that attempts to create stable, non-pegged assets

The first of these assets is a token called RAI, created similarly to how Single Collateral Dai was minted back in the day