Stablecoin protocol HAI to have airdrop ahead of mainnet launch on Optimism

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The decentralized stablecoin and lending protocol HAI will have an airdrop next week prior to its mainnet launch on Optimism. 

HAI will disseminate 22.3% of its governance token KITE to 18,034 qualified wallets, according to a statement. The airdrop will occur on Feb. 12, ahead of HAI launching on Optimism Mainnet on Feb. 20. Qualified users include Reflexer Protocol users, individuals who used the HAI testnet and Optimism governance participants holdings over 50 $OP who voted more than once, HAI founder Ameen Soleimani explained. 

HAI is pinned to numerous decentralized crypto assets rather than fiat currency. It’s a fork of RAI, a non-pegged Ethereum-based stablecoin born from the protocol Reflexer Finance. Reflexer lets people deposit crypto assets as a collateral to mint RAI, which stays stable via algorithm.

Decentralized stablecoins

“With HAI launching on Optimism, users receive all the benefits of RAI’s robust and resilient

system, but with the speed, scale and usability of Optimism,” said Luke Hamilton, co-founder

of HAI. “In this new era of truly decentralized stablecoins, HAI’s unique controlled-peg

mechanism will create the next generation of decentralized currency, resistant to economic

shifts and human error.”

In addition to being a stablecoin protocol, HAI is a lending platform and DAO. KITE holders may determine which collateral types are included on the platform, change protocol parameters and take part in auctions.


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© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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