We're starting to discuss systemic ecosystem design questions on the Reserve forum. At the core we share 2 goals: 1) make money together 2) actually fix store-of-value & inflation for the world Current thread is about removing blockers so we can do both at full power.

It will be a process: Step 1: surface concerns Step 2: debate them honestly (current step) Step 3: map concrete options Step 4: converge on a plan that key actors + RSR holders can agree to + execute We can overcome the FUD by addressing every issue thoughtfully.

Step 1 has been surfacing concerns. Governance, emissions, optics, PMF, price, treasury use, oversight… all of it. I recently posted my reflections across all major topics raised and shared some key info.

FYI: In 2024 Confusion Capital's treasury ops sold ~822M RSR for $15.8M and bought ~1.08B for $5M – net removed ~259M RSR from circulation. In 2025 YTD we’ve net removed another ~370M.

RSR has also been paid to team members and used as incentives. However, after seeing farmers dump RSR, we’ve long ago switched to paying incentives in DTF tokens we purchase with cash, so the total amount of RSR dolled out in incentives in 2025 has been pretty low.

That doesn’t mean worries about supply, emissions and treasury risk are wrong. Even if we’re net buyers, unlocked tokens sitting in one place are scary if you don’t know or trust the decision makers. That’s a design problem we need to fix.

The thread is now moving into Steps 2 & 3: discussing concerns, then later mapping options. Right now we’re focused on: treasury control & transparency, emissions speed & unlock overhang, 100B supply/FDV optics, RToken governance concentration, RSR holder engagement + DTF PMF.

You can’t change the past, but you can change what a new person sees when they find out about Reserve in 2026.

We must keep clear that RSR’s long-term value ultimately depends on product-market fit for Reserve DTFs. Fees, usage and distribution are the engine. Governance, emissions and narratives must be shaped around making that engine actually work.

My ask if you hold RSR: don’t just watch the candles and assume that’s the whole story. If you have time, read the thread, challenge what you disagree with, propose concrete tweaks, or just lurk and absorb so you understand the tradeoffs.