HAI (Lets Get Hai) KITEPrice $ 0.970

HAI (Lets Get HAI) is a decentralized, over-collateralized stablecoin protocol on the Optimism Layer 2 blockchain. It is a multi-collateral fork of RAI, allowing users to mint HAI by depositing various yield-bearing assets (such as LSTs like wstETH, VELO derivatives, or others) into vaults (CDPs—Collateralized Debt Positions).

Users create vaults to borrow/mint HAI against collateral (over-collateralized for safety), repay debt, or liquidate undercollateralized positions via the stability pool (where depositors earn liquidation yields).

Additional mechanics include haiVELO (a perpetual yield-bearing token backed by protocol-owned veVELO for earning rewards while using as collateral) and KITE staking (governance token that boosts incentives, earns protocol fees, and participates in governance). The system supports community governance via KITE holders, with features like redemption mechanisms and protocol incentives to align participants.