Name of Project: Reserve Rights
Reserve Rights (RSR) is the utility token of the Reserve Protocol, a stablecoin platform on Ethereum. The Reserve Protocol comprises a dual token model: the RSR utility token and the RSV stablecoin backed by a basket of assets as collateral.As the value of the collateral tokens may be volatile, when the marketcap of collateral tokens the platform holds is not sufficient to back up the marketcap of the RSV stablecoin in a 1:1 fashion, the platform will mint more RSR tokens and use them to purchase more collateral assets on secondary markets.
Conversely, when there are excess collateral tokens on the platform, the excess will be used to buy back RSR tokens on secondary markets, which will be subsequently burnt.
Reserve's stability mechanism depends on arbitrage activities by users. For instance, when the price of RSV falls to 0.95:1.00 against the USD, in secondary markets, users can purchase 100 RSV priced at 0.95 USD per token on exchanges, and redeem these tokens on the Reserve platform for collateral tokens worth 100 USD. If the price of 1 RSV goes above 1 USD, users can purchase RSV on the Reserve platform and sell on exchanges for a profit.
Total supply: 100,000,000,000 RSR
Circ. Supply: 3,000,000,000 RSR
Official website: https://reserve.org/
This document is compiled from the official whitepaper and relevant documents provided by the project team to provide investors an overview of the cryptocurrency. The information contained in this document is collected legally. We make every effort to provide reliable, complete and accurate information. However, we do not guarantee the accuracy and completeness of the information. The information shall not be regarded as advice, legal proof or evidence, whether explicit or implied.