Today's Reserve Rights Token price is $0.010432, which is down 4% over the last 24 hours. Reserve Rights Token's market cap is $71.44M. 24 hour RSR volume is $6.34M. It has a market cap rank of 120 with a circulating supply of 6,847,804,000 and max supply of 100,000,000,000. Reserve Rights Token is traded on exchanges. Reserve Rights Token had an all-time high of $0.013900 23 days ago. Over the last day, Reserve Rights Token has had 1% transparent volume.
Reserve is a blockchain protocol that aims to provide a better solution than traditional fiat currencies to maintain stable purchasing power. It can be important for people who live in countries struck by hyperinflation. The Reserve team tries to build a universal store of value with the help of their RSV token. It may become an alternative to banks as a safer place to store the money. The Reserve Protocol is running on the Ethereum Network. At the same time, the team aims to enable the interoperability of the Reserve token across other smart contract platforms. Reserve Protocol is a blockchain-based stablecoin system, which operates with two pools of value: their stable cryptocurrency Reserve (RSV) that is pegged at 1:1 ratio to 1 USD, and the Vault, a pool of blockchain assets. There are some other active components of the project such as the Reserve Manager, which is responsible for the Reserve stability, the Vault Manager, which deals with assets in the Vault, the Market Feed, which monitors the market data, and the Auctioneer to perform the protocol’s market operations. The RSR token
There are three types of tokens offered by the project. The Reserve token (RSV) is a decentralized stablecoin which can be treated as any stable fiat money. The Reserve Rights token (RSR) is used to facilitate the stability of the Reserve token. Collateral tokens are the other assets to back the Reserve token value. RSR is a utility token of the Reserve Protocol. This is a mintable burnable ERC-20 token, which is of crucial importance for the Reserve ecosystem. Unlike RSV, the RSR token is volatile by its nature, and it is used to maintain RSV stability at its target price of 1 USD in some edge cases. Newly minted RSV is meant to be sold by the protocol to drive the price of RSV on exchanges back down to 1 USD in case the RSV price exceeds this limit. It also helps to recapitalize the network if the value of vault collateral drops below a target ratio.
According to the official website, the RSR token is not fully functional yet. It will become fully functional when the full protocol is launched. It is planned that RSR will be used for voting on governance proposals and participating in the governance process, but this is not defined yet. In fact, at the time of writing, RSR holders can transfer their tokens to someone else but nothing more. Private pre-sale took place from September 1, 2018, to December 30, 2018. The public token sale started and ended on May 22, 2019. The total token amount is 100,000,000,000, and it is distributed in the following way: 55.75% of total tokens are held by the project and locked, team and advisors receive 20%, 5% were given away to the strategic partners, 16.4% were sold to public (with 3% of total token supply as prime allocation). Depending on the collateralization, the total supply can be increased as well as decreased by burning the tokens.
Reserve Rights (RSR) can be bought with fiat currencies (USD, EUR, GBP, etc.) or other cryptocurrencies such as BTC or ETH on Huobi, IDEX, or Hotbit. As Reserve Rights is an ERC-20 token operating on the Ethereum blockchain, it is possible to store it on a wide range of both the hardware and software wallets. Reserve Rights team and partners
The Company itself is headquartered in Oakland, CA, and it was launched in 2017. Nevin Freeman is the co-founder and CEO of Reserve. He has also co-founded three companies, such as Paradigm Academy, an educational institution and company builder, MetaMed Research Inc., a personalized medical research company, and RIABiz, an industry-insider publication for independent financial advisors.
Matt Elder is the CTO and co-founder of the company. His previous experience includes Paradigm Academy, Google, and other companies, where he worked as a soft engineer and researcher.
Miguel Morel is another co-founder of the project, and he oversees the execution of Reserve’s operational strategies. He is also a co-founder of Stealth Mode, a company in San Francisco Bay Area.
Reserve collaborates with numerous projects. They closely cooperate with 7 Mobile Africa, a mobile phone importer in Angola, launching an app to ease cross-border payments in Africa. Sam Altman, the President of YCombinator, and Peter Thiel, the co-founder of PayPal, are also among their investors.Read More