TechFlow reports, according to CoinDesk, stablecoin issuer Raft has launched a dollar-pegged stablecoin called R. This stablecoin is backed solely by the crypto asset Lido Staked Ether (stETH). Per the protocol's documentation, the stablecoin began trading on Monday and employs both hard peg and soft peg mechanisms to maintain its value around $1. Specifically, the hard peg relies on arbitrage to sustain price stability, while the soft peg depends on incentivizing users to act based on the "expectation that the peg will be maintained in the future." It is claimed to be the first stablecoin launched by Raft backed by Lido Staked Ether (stETH).
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