The Reserve Rights Token: An Analysis- The Reserve Rights Token is the governance token for the Reserve Project that seeks to create a stable, decentralized and asset-backed digital currency system.
- The Reserve Right Token (RSR) is a protocol that is used to enable the stability of the Reserve Token.
- Mass adoption by inflation hit countries like Venezuela and Argentina have propelled RSR to reach a new all-time high of $0.099885.
- RSR has a market capitalization of $1,132,212,106 placing it a respectable 87th in the crypto ecosystem rankings.
The Reserve Right Token is the governance and utility token for Reserve which is a stable coin designed on the network.
Reserve Right Token is a cryptocurrency used to ensure the stability of the Reserve Token and together they will interact with the Reserve Protocol, seeking to create a solid stablecoin.
The stablecoin will allow for seamless cross-border payments and remain resistant to inflation. RSR currently trades at $0.086041 and has a market capitalization of $1,132,212,106.
Reserve Rights Token – Holding it Down for the Reserve Project
The Reserve Rights Token (RSR) serves two distinct purposes for the Reserve Project. First and foremost, it is used to ensure the price stability of the Reserve token (RSV).
RSV also serves as the governance token for the project which bestows on holders the power to vote on proposals that directly affect the project. The creation of the governance token ensures a decentralized and equitable network.
RSR ensures a stable price by working in synergy with the Reserve token (RSV) through the innovative RSR “tokenomics”.
In the event that the price of the Reserve falls below the dollar, arbitrageurs would swoop in to buy back $1 worth of tokens from Reserve’s smart contract.
Alternatively, if the price rises above the dollar, arbitrageurs will also swoop in to purchase new tokens and sell them until the stable price of $1 is attained.
Reserve Right Token – The Numbers
RSR currently trades at $0.088584 and has a market capitalization of around 1 billion.
The market cap gives it a ranking of 87 among other cryptocurrencies and it recently hit an all-time high of $0.099885, signalling a positive growth.
Currently, there is a circulating supply of 13,157,804,000 while the coin has a hard cap of 100,000,000,000 RSR.
On the Flipside
- Although the Reserve Right Token ranks as one of the most used stablecoins, it has fierce competition in sight
- The Bank for International Settlements published a paper backing central bank digital currency ahead of stablecoins
- Since then, we have seen more countries move towards CBDCs at the peril of stablecoins.
The Future of RSR
The future of RSR looks promising as it has surpassed the developers’ expectations. RSR has seen mass adoption in Venezuela and Argentina, regions wracked by severe hyperinflation issues.
As more countries hit by inflation embrace stable coins, it will lead to the inevitable rise in value for RSR.
In January, the US Treasury Office of the Comptroller of the Currency gave the green light for financial institutions to utilize independent nodes for distributed ledger networks and to carry out transactions in stablecoins.
Furthermore, the recent partnership and collaboration with the Venezuelan government and institutional investors like Coinbase, 7 Mobile Africa, Digital Currency Group, Refactor Capital, and Rocket Fuel point to the immense value that RSR brings to the table.
In the future, we could see mass adoption of the Reserve Protocol, with RSR exceeding its all-time highs and a burgeoning market capitalization for the coin.