Raft is an immutable, decentralized borrowing protocol that allows people to take out stablecoin loans against capital-efficient collateral. Raft's USD stablecoin is called R. R is the first USD stablecoin solely backed by stETH (Lido Staked Ether). R provides the most capital-efficient way to borrow using your stETH. R aims to be the stablecoin of choice within the decentralized ecosystem, with deep liquidity across many trading pairs and a stable peg. Each R is designed to retain a value of 1 USD.