• A reflex index’s purpose is not to maintain a specific peg, but to dampen the volatility of its collateral.

  • The redemption price is the value of one debt unit (or coin) in the system. It is meant to be used only as an internal accounting tool and^^ it is different from the market price^^ (the value that the market is trading the coin at).

  • Reflex index 也有它的赎回价格，但不是固定的，提供了套利机会，使其锚定该赎回价格

  • 采用 MCD，但有一定的改动：the addition of an autonomous rate setter

  • Redemption Rate Feedback Mechanism^^ is the system component in charge of changing a reflex index’s redemption price

    • We expect reflex index system participants not to respond directly to changes in the redemption price, but instead respond to the rate of change of the redemption price which we call the redemption rate. The redemption rate is set by a feedback mechanism that governance can fine-tune or allow to be fully automated.
    • the redemption rate is calculated so that it opposes the deviation between market and redemption prices

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