The decentralized stablecoin and HAI lending protocol will be launched next week before the launch of its mainnet on Optimism. Meanwhile, the HAI team will distribute 22.3% of its KITE governance tokens among 18,034 qualified wallets. The airdrop will take place on February 12, before the launch of the HAI mainnet on Optimism on February 20. Qualified users include Reflexer protocol users who used the HAI testnet and Optimism users owning more than $50 in OP who have voted more than once.

HAI is pegged to a variety of decentralized crypto assets, rather than fiat currency. It is a fork of RAI, an Ethereum-based stablecoin created using the Reflexer Finance protocol. Reflexer allows people to deposit crypto assets as collateral for RAI, whose value remains stable thanks to an algorithm. With the launch of HAI on the Optimism platform, users will enjoy all the benefits of the reliable and resilient RAI system, while also maintaining the speed, scalability, and convenience of using Optimism, stated HAI co-founder Luke Hamilton.

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 errors. HAI is not just a stablecoin protocol but also a lending platform and DAO. KITE holders can determine which types of collateral should be included in the platform, they can change protocol parameters, and participate in auctions.