As a project with Real World Assets elements launched in the previous Uptrend season (2020-2021), what will Reserve Protocol (RSR) have in 2024?
Let's find out through the article below.
What is Reserve Protocol?
The Reserve Protocol is the first platform to enable the creation of asset-backed, interest-bearing, Over-Collateralization stablecoins in a permissionless manner on Ethereum. The ultimate goal of the Reserve Protocol is to provide a stable, decentralized, highly scalable currency that is different from volatile cryptocurrencies like Bitcoin and Ether.
The Reserve Protocol aims to overcome the shortcomings of many current stablecoin designs by using off-chain collateral that has been tokenized by multiple issuers, initially Peg the exchange rate to a fiat currency and then to a basket of assets. Additionally, the Reserve Protocol allows anyone to deploy a Reserve stablecoin (RToken) with a collateral basket, governance system, and revenue distribution of their choice, encouraging open exploration and competition to find the best basket of assets and governance system for the ideal on- chain currency.
What is the long-term vision of Reserve Protocol?
The long-term vision of the Reserve Protocol is to create a stablecoin that is not only stable in the short term, but also much more stable in the long term. This is done by creating a coin that is not subject to inflation for centuries, allowing users to save money today and pass it on to their children and grandchildren while retaining its value.
The Reserve Protocol intends to achieve this by backing the stablecoin with a well-structured and diversified basket of different cryptoassets, including precious metals, commodities, debt, and equities. The goal is for the stablecoin ’s value to keep pace with global GDP, allowing it to retain its value even during financial crises.
However, Reserve Protocol also recognizes two major challenges: most financial assets are not currently tokenized on Ethereum, and current decentralized governance systems are not yet adequate to manage a global reserve currency. Reserve Protocol hopes to work with the community to address these challenges by developing and improving decentralized governance systems, as well as encouraging the tokenization of more financial assets.
Meanwhile, Reserve Protocol is building the foundation so that this stablecoin can be used everywhere users want.
Token in the Reserve Protocol platform
RToken
RToken is the generic name for a stablecoin created on the Reserve Protocol. RTokens are fully asset-backed, consisting of any combination of ERC-20 Token , and can be protected against collateral default by Staking Reserve Rights (RSR). Each RToken is managed separately.
RSR Token
RSR Project Governance Token is based on the ERC-20 Token standard used for all Reserve Token (RToken). It can be Staking to receive revenue from RToken collateral and participate in proposing and voting on changes to the RToken configuration.
Collateral Token
Collateral Token for RSR Token . Collateral Token will be held in Reserve's smart contract. Some Collateral Token will be tokenized assets, such as bonds, commodities, etc.
Information about RSR Token
Token metrics
- Token Name: Reserve Rights
- Ticker: RSR
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x320623b8e4ff03373931769a31fc52a4e78b5d70
- Token type: Utility & Governance
- Total Supply: 100,000,000,000 RSR
- Circulating Supply: 50,600,000,000 RSR
Token Allocation
- Foundation: 58.6%
- Current Funding: 16.4%
- Team & Advisor: 20.0%
- Partner: 5.0%
Vesting Schedule
The total supply is fixed at 100 billion, used to support Reserve Token (RToken). There are currently 50.6 billion RSR in circulation, and all of the Reserve Protocol has been unlocked.
The outstanding RSR , a total of 49.4 billion Token, belongs to two wallets named Slow and Slower:
- Slow Wallet: This is a locked wallet controlled by the Reserve project team, used to fund RToken adoption initiatives. It has a hard delay period of 4 weeks after initiating each withdrawal transaction on the blockchain.
- Slower Wallet: Managed by Confusion Capital, this wallet receives a portion of the funds from the Slow wallet and applies additional withdrawal restrictions. The Slower wallet maintains a 4-week withdrawal delay and adds a restriction that no more than 1% of the total RSR supply can be withdrawn in any 4-week period. This is to reduce the level of trust people need to place in Confusion Capital.
More details on Slow & Slower Token – here
Token utility
RSR can be Staking to receive revenue from RToken collateral and participate in RToken governance.
Roadmap
The last time Reserve Rights announced a roadmap was in 2022 and there is no further information in 2024.
In the future, Allinstation will continue to provide information to you when there is the latest move from the project.
Development Team
Nevin Freeman – Co-founder and CEO: Nevin is the co-founder of three other major companies including Paradigm Academy, Metamed, and RIABiz.
Matt Elder – Co-founder and CTO: Matt has experience working in technology at Google and Quixey.
Charlie Smith – Business Developer: Charlie was a senior consultant at ReD Associates and has experience in business development.
Jesper Ostman – Protocol Developer: Jesper is a philosophy researcher with 4 years of experience in methodology research at the Institute of Philosophy and holds a PhD in theoretical philosophy from Umeå University.
Investors & Partners
Reserve Protocol has a strong portfolio of institutional investors including Coinbase Ventures, NGC, and Fenbushi Capital . The project also has backing from Peter Thiel (co-founder of PayPal), Sam Altman (chairman of OpenAI ), and many other influential investors in Silicon Valley and the crypto industry. Reserve has unique business resources and a strong institutional investor base.
Capital Rounds
Seed Round:
- Amount Sold: 12,392,000,000 RSR (12.39% of Total Supply)
- Selling price: 0.0004 USD/ RSR
Private Round:
- Amount to be sold: 1,000,000,000 RSR (1% of total supply)
- Selling price: 0.0020 USD/ RSR (including bonus)
IEO Sale on Huobi Prime:
- Selling price: 0.0006 USD/ RSR
- Amount to be sold: 3,000,000,000 RSR (3% of total supply)
- Sales format: Chia into 2 rounds
- Round 1: 19:00 – 19:09, sell 20% (~600 million RSR), price 0.0011 USD/ RSR, first come first served (FCFS)
- Round 2: 19:10 – 19:19, sell 80% (~2.4 billion RSR), price 0.0006 USD/ RSR
Note: These Capital rounds have completed distribution to stakeholders!
Comments
Reserve Protocol is a rare project that has gathered many "catalysts" to continue to explode this season when focusing on developing products on tokenization - RWAs is the focus of the 2024 Halving cycle. With the participation of Sam Altman (Chairman of OpenAI) as an early investor, Reserve will have many more stories to attract attention in the 2024-2025 Bull-run.
Frequently Asked Questions
What is the official information channel of the project?
Where can I buy RSR Token ?
Currently, investors can buy RSR Token on exchanges such as Binance, Bitget, MEXC, BingX…
Summary
Allinstation has answered the question of what Reserve Protocol (RSR) is and provided information about the project. Let's learn and evaluate to make the most informed investment decisions. Good luck to you!!!
