What is Reflexer Ungovernance?

Reflexer Ungovernance introduces the native token FLX, which serves two primary functions. Firstly, it acts as a lender of last resort, utilizing surplus and debt auctions to autonomously mint and auction new FLX tokens in situations where the system faces deficits, drawing a parallel to the Maker protocol's mechanisms.

Secondly, the project aims to ungovern the RAI system by removing governance capabilities. This process allows the community to determine how to manage any remaining aspects of governance, facilitating further ungovernance and empowering users to make decisions regarding the protocol's oversight.