icon - Reserve Rights
RSR Reserve Rights
+ 0.88%
$ 0.00405248
Volume 24h
Circulating supply
Change 24h
Graph (7d)
  • 203
    Reserve Rights
    $ 0.00405248
    $ 184,841,123
    $ 9,929,700
    45,611,899,305 RSR
    + 0.88%

What is Reserve Rights (RSR)?

Reserve Rights (RSR) is a blockchain project that is designed to provide a secure and viable alternative to the centralized fiat currencies used today. The network uses a basket of cryptocurrencies managed by smart contracts to maintain its value.

The project is launched using USD Coin (USDC), TrueUSD (TUSD) and Paxos Standard (PAX). Eventually, the developers hope to use a repository with more than 100 different low-volatility assets to provide RSV value.

Another problem that the project developers wanted to solve was the servicing of those who were not covered by banking services. Around the world, billions of people do not have access to basic financial services. In many cases, due to the lack of infrastructure, traditional banking institutions were unable to contact these groups. Reserve Rights aims to provide a robust and sustainable trading ecosystem in these areas, with a focus on developing countries.

Who created the Reserve Rights (RSR)?

The Reserve Rights project appeared in May 2019. The platform's co-founder and CEO, Nevin Freeman, has experience building successful technology companies. He was a co-founder of Paradigm Academy, Metamed, and RIABiz. 

Reserve Rights secured the funding during the Initial Exchange Offering (IEO) on the Huobi Prime platform. It is noteworthy that the platform has received the support of some well-known investors. In particular, the event was attended by the venture fund Coinbase Ventures, PayPal co-founder Peter Thiel and YCombinator founder Sam Altman.

What is unique about Reserve Rights (RSR)?

The uniqueness of the Reserve Rights project lies in its attempt to reduce volatility. The volatility of cryptocurrencies limits the expansion of the market as a medium of exchange. Merchants are reluctant to accept cryptocurrencies due to concerns that they may lose their profits during market downturns. Reserve Rights provides a stable means of saving, a medium of exchange, and a standard of deferred payment to the market.

The development teams behind the Reserve Rights protocol prefer to use a unique dual token strategy to achieve their goals. The RSV token and the RSR token work together to provide Reserve Protocol users with a secure and efficient UX. The RSV token is the main stable coin of the network.

The RSR token serves several purposes within the backup protocol. The main purpose of the token is to provide a mechanism for maintaining the dollar-pegged value of the stablecoin network-RSV. What is unique is the backup protocol, which is designed to scale supply based on demand. Thus, the protocol supports 100% or more guarantee security within the chain.

What is also unique is that Reserve Rights introduces fiat on / off ramps into its core protocols. This strategy eliminates the need to use third-party applications to enter the market.

How many RSR tokens are in circulation?

RSR is a service token of Reserve Rights. This token is critical to maintaining the value of the RSV at this time. In particular, it is used to provide stacking and RSV binding. It also functions as the main management token for the network. Users must own these tokens to be eligible to vote. 

There are currently 45,611,899,305 of RSR tokens in circulation, and the maximum supply is 100,000,000,000 of RSR coins. The RSR value is at $ {price} USD, with a daily trading turnover of 9,929,700 USD, and a market capitalization of 184,841,123 USD.

How is the Reserve Rights network protected?

Reserve Rights is based on the Ethereum blockchain. Ethereum is the №1 blockchain in terms of security. Thus, the security of the project is entrusted to the PoS consensus.