$0.001931

Reserve Rights (RSR) is an ERC-20 token with two primary functions within the Reserve protocol: it provides overcollateralization for Reserve stablecoins (RTokens) through staking, and it serves as the governance token, allowing holders to propose and vote on changes to RToken configurations. The token was introduced in May 2019 after an initial exchange offering (IEO) on Huobi Prime.

Beyond its governance role for Reserve stablecoins, RSR acts as a safety net to compensate RToken holders if a collateral token defaults. RSR holders can choose to stake their tokens on one or multiple RTokens, or not at all. In return for this first-loss capital, stakers earn a share of the revenue generated by the RTokens they support, with potential returns generally increasing as the market cap of the staked RToken grows. Unlike typical staking models, RSR staking is designed to be sustainable, ensuring that early participants do not benefit at the expense of later ones, and no trust in other stakers is required. For more details, consult the protocol's documentation on RSR staking.

Reserve was founded by Nevin Freeman and Matt Elder. Freeman, an experienced entrepreneur, aims to address coordination problems hindering human potential. Elder, a skilled engineer, previously worked at Google and Quixey and oversaw the technical architecture of the Reserve protocol. Since its 2019 launch, the Reserve ecosystem has grown to include many contributors, such as community members, engineers, and legal and compliance staff, all working towards the goal of creating an open, scalable stablecoin platform that fosters economic prosperity.

Reserve stablecoins differ from typical stablecoins that are backed by fiat currency held in bank accounts. Instead, they are backed by a basket of cryptocurrencies managed by smart contracts. This basket can include any ERC-20 assets, initially often consisting of other cryptocurrencies like liquid staking tokens (e.g., stETH) or yield-bearing DeFi positions (e.g., cUSDC). Eventually, the community plans to diversify into baskets containing fiat currencies, securities, commodities, and complex assets like synthetics and derivatives, aligning with Reserve's long-term vision.

Reserve Rights has a fixed supply of 100 billion tokens, with approximately 52% in circulation as of September 2024. The entire supply was pre-mined, but a significant portion is locked, including 49.4% in a smart contract called the 'Slow wallet,' which releases funds on a deterministic schedule. Initially, the circulating supply was 6.85 billion tokens, with 3% distributed to Huobi Prime IEO participants, 2.85% as project tokens, and 1% to private investors. Team, advisor, partner, and seed investor tokens have been unlocked through two options: one starting in January 2022 and another upon the full protocol's launch on Ethereum mainnet. More details on the unlocking schedule are available in the documentation.

Reserve Rights operates as an ERC-20 token on the Ethereum blockchain, benefiting from Ethereum's security. It is protected by a proof-of-work (POW) consensus mechanism, which relies on a network of thousands of miners to prevent attacks and ensure the integrity of transactions.

Reserve Rights (RSR) is a widely traded token with strong liquidity. It is available on major cryptocurrency exchanges such as Binance, Huobi Global, and OKEx. RSR can be traded against popular cryptocurrencies like Bitcoin (BTC), Tether (USDT), and Ethereum (ETH), as well as fiat currencies like the U.S. dollar (USD) on various platforms.