Stablecoin protocol HAI has announced an exciting milestone on its path to launching its mainnet on Optimism.
Ahead of this highly anticipated event, HAI will hold an airdrop on February 12, distributing 22.3% of its governance token, KITE, to over 18,000 qualified wallets.
These recipients include users of the Reflexer protocol, participants in the new testnet, and members of Optimism governance.
The countdown has started!
HAI DAO is now accepting applications for DAO delegates and distributing its governance token$KITE governance tokens will be available for claim by @reflexerfinance, @Optimism and HAI testnet users on 2/13/2024.
More information on eligibility below pic.twitter.com/cvamZrbhq1
— HAI 🌥️ (@letsgethai) February 6, 2024
This airdrop will precede the launch on Optimism’s mainnet, scheduled for February 20.
HAI differs from traditional stablecoins by being pegged to a variety of decentralized crypto assets rather than fiat currency.
Based on RAI, an unpegged Ethereum stablecoin, this token comes from the Reflexer Finance protocol, which allows users to deposit crypto assets as collateral to issue RAI, maintaining its stability through an algorithm.
In addition to being a stablecoin protocol, HAI is a lending platform and a DAO
Holders of KITE, HAI’s governance token, have the ability to determine what types of collateral are included on the platform, change protocol parameters, and participate in auctions.
The KITE claim process involves a series of actions including participation in the Reflexer network, main testnet, and Optimism governance, as well as regular distributions to the DAO team, advisors, associations, and treasury, among others.
Additionally, KITE holders can register as delegates to receive voting power from other community members before claiming their tokens.
This process is critical in shaping the future of the protocol, determining aspects such as collateral used, stability rates, and more.
Anticipation is growing among the community, as the DAO has begun accepting applications for delegates and is distributing its governance token.
The key date for claiming governance tokens, February 13, 2024, is quickly approaching, marking an important moment in the development of HAI and its ecosystem.
With the distribution of KITE, holders will have the opportunity to actively participate in decision-making and shape the future of this innovative stablecoin and decentralized lending platform.