The Reserve Rights Token (RSR) is part of the Reserve Protocol and its ecosystem. The token was launched in 2019 as part of the Reserve protocol’s mission to encourage the overall adoption of cryptocurrency. In particular, the protocol allows provides tools for users to create their own and use stablecoins to their advantage across the globe. The ecosystem comprises the protocol itself, the Reserve app, and the RSV stablecoin. Its novel dual-token system is aimed at addressing the issues of the extreme volatility of the crypto market.
RSR is an ERC20 token and has a total supply of 100000000000. It operates as a utility token and governance token of the Reserve Rights platform.
What are Reserve Rights key features and how does it work?
As mentioned, a core part of the Reserve protocol ecosystem is the RSV stablecoin. It wraps existing USD fiat-backed cryptocurrencies and is backed by USDC, TUSD, and USDP. The stablecoins are managed by smart contracts, known as the Reserve vault. In this manner, each stablecoin created on the platform is backed by a number of several different coins.
The RSR token has been created in case of any RTokens defaulting on collateral. RTokens are the stablecoins created on the platform, such tokens are fully collateralized and can be redeemed 1:1 for their underlying. RSR is used to re-capitalize the market in case any asset held within the Reserve protocol drops below a specific value and cannot guarantee its RSV. As such, there is a negative correlation between the supply of RSV and the supply of RSR.
What is noteworthy about Reserve Rights?
The Reserve ecosystem also comprises the RPay App. It is a wallet that can be used to store and send crypto. Users can deposit and withdraw assets in a currency of their choice, fiat or crypto.
Where can you buy RSR?
RSR is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, OKX, Gate.io and KuCoin. The price of RSR will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for RSR market prices, please view the price charts on this page.
Reserve Rights's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 75.08 Million.
RSR
