About RSR Crypto
Reserve aims to build a stable, decentralized, asset-backed cryptocurrency and a digital payment system that scales supply with demand and maintains 100% or more collateral backing. Ultimately, Reserve’s goal is to create a universal store of value – particularly in regions with unreliable banking infrastructure and regions where hyperinflation is an issue.
We’ve created a digital currency, the Reserve Dollar (RSV), that maintains 1-to-1 parity with the US dollar (highly stable relative to the Venezuelan Bolívar), and a mobile app that makes it easy to store money in RSV, get paid in RSV, and pay for things with RSV (either at the thousands of merchants that now accept RSV, or by converting RSV into bolívares within seconds).
Essentially they extended the stability of the US dollar to those who faced hyperinflation in Venezuela in recent years, and they are expanding to other countries in Latin America where inflation continues to be a pressing issue.
RSR Point Table
| Coin Basic | Information |
|---|---|
| Coin Name | SmileyCoin |
| Short Name | RSV |
| Circulating Supply | 28,850,667 RSV |
| Total Supply | 28,850,667 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
RSR Crypto Values
At RSR , they are building our project’s culture as intentionally as we build app and protocol, because they think culture is an essential tool we can leverage in pursuit of mission to make stable currency accessible to everyone. This leads us to heavily value certain things, as individuals and as a project. They realize that nobody embodies 100% of these values, and we also know that these values don’t cover everything they care about as individuals and as a team. But they do think these six key values are a good summary of what we’re aiming for. If they resonate with you, you might be a good fit for team.
RSV Crypto Price Live Data
The live Reserve price today is $0.997134 USD with a 24-hour trading volume of $59,260.98 USD. They update the RSV to USD price in real-time. Reserve is down 0.01% in the last 24 hours. The current CoinMarketCap ranking is #567, with a live market cap of $28,767,971 USD. It has a circulating supply of 28,850,667 RSV coins and the max. supply is not available.
How RSR Crypto Works
RSV is backed by a basket of on-chain collateral assets, held by the Reserve Vault smart contract. This basket is, at the moment, fully comprised of USDC — so each RSV is initially redeemable with the Reserve smart contracts for 1 USDC. Since each RSV token is redeemable directly for this basket, value of the RSV token is economically linked to the value of the basket. This anchors RSV at $1.00, as each of the current collateral tokens is redeemable for USD 1:1. This basket can be diversified over time through decentralized rebalancing, which we describe later.
So what can RSV do and how does it work? It comes down to three key features:
- RSV Issuance: interact directly with the protocol to lock up collateral and issue new RSV.
- RSV Redemption: trade in your RSV for collateral tokens.
- Vault Rebalancing: holders can submit proposals to the Reserve Manager smart contract to rebalance the composition of the collateral in the vault.
RSV is the prototype stablecoin that is currently being used in the RPay app. Over time, we intend to replace it entirely with RTokens in the app. Each of the smart contracts that power RSV have been audited by friends at CertiK.
What are RTokens
RToken is the generic name for a stablecoin that gets created on top of the Reserve Protocol. RTokens are fully asset-backed by any combination of ERC-20 tokens and can be protected against collateral default by Reserve Rights (RSR) staking. Each RToken is governed separately.
Advanced RSR parameters
When deploying an RToken, the deployer has the ability to configure many different advanced parameters. The following list goes into detail about what these parameters do and some of the factors the deployer should keep in mind to set them.
As many of these parameters concern the Protocol Operations, we advise reading through that section of the documentation first—as it will give the deployer the necessary context to fully understand all parameters.
Reserve Crypto Features
Decentralized
The Reserve is not under the jurisdiction of a single organization or central body. This ensures that no one party can control the system and makes it resistant to censorship.
Stablecoin
Using the Reserve, a stablecoin is created that is linked to a basket of assets, including other stablecoins, cryptocurrencies, and fiat money like the US dollar. This guarantees the Reserve stablecoin’s value stability and its suitability as a trustworthy medium of trade.
Reserve Rights (RSR)
Reserve (RSR) is a native token of the Reserve Protocol. This is employed to keep the Reserve stablecoin stable and to encourage users to use the platform.
Liquidity Pool
The Reserve makes use of a liquidity pool to keep the Reserve stablecoin stable. The liquidity pool makes sure that there is always sufficient liquidity to satisfy stablecoin demand and maintain its price stability.
Accessibility
The Reserve seeks to develop a money that anyone may use, wherever they may be in the globe. The protocol is independent of any specific banking system or financial institution and can be used on any device with an internet connection.
Reserve Conclusion
The Reserve is a decentralized stablecoin framework that seeks to develop a globally usable, scalable, and stable currency. The Reserve stablecoin is kept stable by the protocol using a basket of assets, and a liquidity pool makes sure that there is always enough liquidity to meet demand for the stablecoin and sustain its price. In order to ensure the Reserve stablecoin’s stability and encourage users to use the platform, the Reserve also contains a native token called Reserve Rights (RSR). Overall, the Reserve has the ability to offer people and companies all across the world a reliable and usable money option.
