metadata: {"type": "project", "title": "TAI", "logoImg": "bafkreic7vabdrnuzyr2adjunqokx5h24tpxu6ecioe266hznsbjj6bcpku", "website": "https://tai.money", "bannerImg": "bafkreih3rn3zxppzste7xjwvi5yruwr722blfoaeqbouqt46bkmxuue6km", "createdAt": 1683474407319, "credentials": {}, "description": "- The TAI protocol offers loans to holders of ETH and ETH LSDs (Liquid Staked Derivatives). These loans are offered in the form of $TAI, a collateral-backed, stable and liquid ERC-20 token. The TAI protocol operates as a trust-minimized smart contract system on Ethereum.\n- The $TAI token will eventually adopt the stability mechanism of RAI, avoiding excessive depegging seen in other collateralized stablecoins.\n    - The dynamic peg will not be applied to $TAI at launch (the redemption value of TAI/USD will be fixed to $1.00), and is expected to be enabled after a period of rewards distribution (launch + 6-12 months).\n- TAI is a fork of DAI/RAI, one of the most proven codebases and first smart contract system to be formally verified.\n- TAI currently supports ETH, wstETH, rETH and RAI as collateral, and will add more LSDs (upon governance approval).\n- TAI is built with the value of credible neutrality. *No VCs or pre-sale*.\n- TAI is being advised by Ameen Soleimani (RAI, Consensus, Moloch Ventures, Spankchain)\n\n## Tokenomics of $RATE, the governance token\n\n- Total $RATE Supply: 1,000,000\n- Team: 10% (vested over 3 years)\n- Treasury: 7%\n- Community Treasury: 5%\n- Community Rewards: 78%\n    - Community rewards start shortly after the launch. $RATE will be distributed to participants of the system through the mechanisms below.\n\n## Rewards\n\n- TAI will launch with $RATE rewards for users who\n    - mint TAI\n    - and/or provide liquidity in the TAI/ETH pool used for the TAI oracle.\n        - the split ratio will be dynamic, based on market conditions.\n- Weekly rewards emission is **fixed** and controlled by a smart contract.\n    - 32.94% of the community rewards will be distributed in the first 1 year.\n    - 86.44% of the community rewards will be distributed in the first 5 years.\n    - 98.16% of the community rewards will be distributed in the first 10 years.\n\n### Rewards automation\n\nThe specific %\u2019s allocated to LPers vs minters will initially be managed by the TAI team, but we are researching an automated mechanism that adjust the %\u2019s based on TAI/USD market conditions.\n\n## Other advantages\n\n- Lower Liquidation Penalties: TAI 2-5% (collateral-specific) vs RAI 10% vs DAI 13%.\n- Multiple Oracles: The system will use Chainlink oracles for collaterals upon launch. The system also needs a TAI/USD oracle used by the rate controller in controlling the floating peg. The TAI/USD oracle will be derived from the Uniswap V3 TAI/ETH price and Chainlink ETH/USD.\n- TAI will adopt the **buyback-and-burn** token model of DAI/RAI using $RATE. Surplus from safe interest and liquidations will be auctioned off for $RATE at a discount. The RATE collected is automatically burned.\n\n## Learn more about TAI\n\n- [App](https://tai.money)\n- [Twitter](https://twitter.com/taimoney6)\n- [Discord](https://discord.gg/qd7MZwjF2u)\n- [Blog](https://mirror.xyz/0x01393d9b6dFFce134b6765e9bdd626b258357C37/e0vdmPeoieNaLKjaZP5OZT02-gT9kQahbbCsltJb4SI)", "logoImgData": {}, "bannerImgData": {}, "projectTwitter": "taimoney6"}
name: TAI