The score, by dimension
- the same for all 7
- #7 of 7 · best 17.8
- the same for all 7
- the same for all 7
- the same for all 7
Tick: the best in this ranking · Methodology v2026.11.1
Reflexer RAI
ETH-backed non-pegged stable asset
Historical#7 of all 7 worldwide41
- Rank
- #7 of all 7 worldwide
- Your cost
- Not priced on this basis
- Evidence
- High4 of 4 criteria sourced
- Licence
- No MiCA record on file
- Freshness
- Read October 2026checked · re-read due
Historical verdict. The record carries a sunset date of 9 June 2025. The score is what the methodology produced from the evidence read at the time; it is kept so the ranking history stays auditable, not as a recommendation.
The verdict
Reflexer RAI is #7 of 7 published CDP stablecoins; it scores 0/10 on liquidation mechanics, where the category best is 9. Its widest gap is collateral integrity: 0/10, where Aave GHO scores 4. Choose Aave GHO if collateral integrity matters most.
Is Reflexer RAI right for you?
Look elsewhere if
- Liquidation mechanics you actually bear0/10 here; Aave GHO scores 6
- What actually backs the coin0/10 here; Aave GHO scores 4
- Cost of the loan and who controls it0/10 here; Aave GHO scores 6
- Observed peg behaviour under stress0/10 here; Sky (formerly MakerDAO) USDS scores 7
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best CDP stablecoin shows where it lands for you.
What will Reflexer RAI cost you?
Not priced on this basis
- Amount borrowed
- $10k
How safe is Reflexer RAI?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read October 2026.
- LicenceMiCA (EU): no register record on file here.
Entity: not verified. No hand-confirmed record on file ties Reflexer RAI to the company that runs it, so this page cannot say which other products that company operates. Read the legal entity in its terms before you deposit. How we read the evidence
Open the evidenceIf it doesn’t fit, choose
Compare all 4- 4Aave GHOIf liquidation mechanics matter most: 626 points above · stronger on liquidation mechanics (6 against 0)67$450 a year · read
- 5Sky (formerly MakerDAO) USDSIf liquidation mechanics matter most: 417 points above · stronger on liquidation mechanics (4 against 0)58
- 6Ethena USDeIf liquidation mechanics matter most: 310 points above · stronger on liquidation mechanics (3 against 0)51
Provider at a glance
- Category
- CDP Stablecoins
- Entity
- Not verified
- Official website
- reflexer.finance
Independent rankingchecked How it works
Details
Scored 41 out of 100 under methodology 2026.11.1, from the evidence read in October 2026.
For your setup
Find out if Reflexer RAI fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Reflexer RAI lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best CDP stablecoinNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Reflexer RAI ranks #7
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (0.0 here) sit inside the score; availability, friction, trust record and measured data add the rest.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
350+0.006.09#7/7
Primary
Provider page · read 2026-10-22250+0.004.08#7/7
Third party
Third party · read 2026-10-22200+0.006.010#7/7
Third party
Third party · read 2026-10-22200+0.004.07#7/7
Third party
Third party · read 2026-10-22Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−10behind Ethena USDe, #6 of all 7 worldwide, on the published score
RobustnessNot scored on criteriait stopped operating on 2025-06-09, so its criterion scores are zeroed in the score and no move is computed
Evidence4 of 4 scored4 quoted, 4 with a source link
Strengths
0 from the score dataWhere it leads
No scored criterion is at or within one point of the category best, so no strength can be stated from the data.
Tradeoffs
4 from the score dataWhere it trails
Not for readers who put first
- Liquidation mechanics you actually bear — 0/10 against a category best of 9/10
- What actually backs the coin — 0/10 against a category best of 8/10
- Cost of the loan and who controls it — 0/10 against a category best of 10/10
- Observed peg behaviour under stress — 0/10 against a category best of 7/10
Record watch-outs
- Reflexer is not a live product: its GEB deployment was globally settled on 2025-06-09, so no SAFE can be opened and no debt exists to repay. What remains is redemption: each RAI is a fixed claim on 0.0011275 ETH through GlobalSettlement, with 608.24 ETH held against 516,304.85 RAI. The site does not say so: reflexer.finance still serves '-' placeholders for Redemption Price and Redemption Rate under a '© GEB Foundation 2024' footer, and app.reflexer.finance still renders 'Connect your wallet to start opening Safes'.
Competitive position
How Reflexer RAI places on each criterion
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Against the leader
80 vs 41 · gap 39.0Why Liquity V2 (BOLD) ranks above Reflexer RAI
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale; a floor bound on one of the rows keeps the reproduced gap (46.3) from matching the displayed one exactly, which is stated rather than hidden.
DimensionThisLiquity V2 (BOLD)Gap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight0.017.8−46.3, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisLiquity V2 (BOLD)Points
Liquidation mechanics you actually bear · w3508−8.96, worse
What actually backs the coin · w2508−6.40, worse
Cost of the loan and who controls it · w2009−5.76, worse
Observed peg behaviour under stress · w2004−2.56, worse
Net4180−39.0≈
Your scenario
Reflexer RAI is not priced for this scenario
Interest on what you borrow at the published rate. Variable rates move; excludes origination and liquidation penalties. Change an input and every figure recomputes from the published rate; the published rank does not move.
interest/yr · default scenario — set your own
Amount borrowed · your input$10k
Rate read from the provider’s published pricing ↗ on 22 October 2026.
interest/yrCost is stated as interest/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDTypical costNot statedFewer than 5 priced rows: no typical cost is named · 3 of 7 rows priced
Lowest fee, priced rows$249 · Liquity V2 (BOLD)Difference not stated · availability not applied — set your country to filterCompare with Liquity V2 (BOLD)
3 of 7 rows in this ranking have no verified rate for this scenario and are absent from the typical, not counted as free.
1 of 7 quote a zero fee that leaves costs out, so they are absent from the typical and the lowest fee, not counted as free.
Evidence
Evidence read 22 October 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessNot scored on criteriano re-run describes this row
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 10 November 2026; this category's reading is older. The scores stand as read on 22 October 2026.
CriterionSourceTypeReadFreshnessStatusReceipt
Liquidation mechanics you actually bearstrength 0 · weight 35Report an errorProvider's own page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.What actually backs the coinstrength 0 · weight 25Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.Cost of the loan and who controls itstrength 0 · weight 20Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.Observed peg behaviour under stressstrength 0 · weight 20Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.How you can lose money here, and what the ranking scores
- Control failure (Reflexer RAI 0/10): a key or vote changes the rules, freezes or mints.Scored by Cost of the loan and who controls it · 20%
- Oracle failure (Reflexer RAI 0/10): a wrong price or outcome liquidates or settles a position.Scored by Liquidation mechanics you actually bear · 35%
- Insolvency failure (Reflexer RAI 0/10): the firm or issuer that owes you cannot pay.Scored by What actually backs the coin · 25%
- Exit failure (Reflexer RAI 0/10): you cannot get out at par, on time, or with what is yours.Scored by Observed peg behaviour under stress · 20%
Not assessed by this ranking: Contract failure, Regulatory failure, Execution failure. A high place says nothing about these; the Methodology tab says what each means.
Facts
facts, not scoresWhat the record publishes
- Pricing
- Shut down. Reflexer's GlobalSettlement contract (0xee4Cf96e5359D9619197Fd82B6eF2a9EaE7B91e1) reports shutdownTime() = 1749490115 (9 June 2025 17:28:35 UTC); read on-chain 22 October 2026 (Ethereum block 26246952) the SAFEEngine, OracleRelayer, AccountingEngine and GlobalSettlement all return contractEnabled() = 0 and globalDebt() equals globalUnbackedDebt() (1,303,444.72). No SAFE can be opened, no stability fee accrues and no liquidation can occur; RAI is a fixed claim on 0.0011275 ETH per RAI (GlobalSettlement.collateralCashPrice(ETH-A)) with collateralShortfall = 0 and 587.88 ETH left for redemption (608.24 on 15 September 2026). The redemption price is frozen (redemptionRate = 1). ERC20 totalSupply 498,253.07 RAI (516,304.85 on 15 September 2026). Reflexer's docs describe the first settlement stage as "shutdownSystem() : Freezes user entry-points Cancels collateral/surplus auctions Starts the cooldown period". reflexer.finance's served HTML still shows '-' placeholders for Redemption Price and Redemption Rate and the footer '© GEB Foundation 2024'.Reflexer docs — Global Settlement ↗ · 22 October 2026
- Prices published in
- USDReflexer docs — Global Settlement ↗ · 22 October 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- Not published
- Supported chains
- Multi-chain
- Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Globally settled on 9 June 2025 (GlobalSettlement.shutdownTime() = 1749490115). Reflexer's Global Settlement docs (docs.reflexer.finance, read 22 October 2026) say settlement "Freezes user entry-points", so no SAFE can be opened anywhere; the only remaining function, redeeming RAI for ETH through GlobalSettlement, is permissionless. reflexer.finance links no terms of service and names no restricted country. Bucket: global (discontinued).
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with Reflexer RAI: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 22 October 2026Current verified snapshot · methodology 2026.11.1Score 41, #7 of 7. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 15 October 2026
2026.10.10The live-data rule names the researched market measurements a criterion reads- changed The live-data rule names a second kind of figure a score reads: a researched, dated market measurement a criterion's ladder is built on, read again on the 45-day review. /methodology/live-data lists the 14 criteria that read one; no score, rank or order changes.
- changed A saved decision is checked again on the answers the reader saved. The drift check had merged a priority suggested by the market (price swings, gas) into those answers, so a market reading could move a saved decision's #1; the published ranking never read it.
- added On every build a test reads every criterion's published ladder: one that names a market quantity or a market-data source must be declared, and every scored row of a declared criterion must carry the source and the date its figure was read.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.11.1, the same published run every visitor sees · receipt cdp_stablecoins:reflexer_rai:2026.11.1:3ca1ffa85b58
Are you Reflexer RAI? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.