Making Big Moves
Today, we will be delving into the Ethereum world once again to look at the curious Reserve Protocol coin (RSV) as well as their (RSR) Reserve Rights coin. With an intuitive design and an original concept, these coins have us interested.
What Is the Reserve Token?
According to the Reserve team, RSV is a very basic stablecoin that runs on the Ethereum blockchain. This RSV coin wraps existing “fiat-backed” USD tokens (Currently 1/3 USDC, 1/3 TUSD, and 1/3 PAX). The purpose of the RSV token serves to offset potential losses from any of its assets should they get shut down or have issues. RSV contracts are controlled with a multipass.
What is the Reserve Rights token?
The Reserve Rights token is the governance token of the Reserve protocol. RSR is there as a backstop to make RSV holders whole just in case of a token default. We are extremely excited about this token due to its Mainnet tokenomics plan. When implemented and live, we believe that the value of this token has enormous potential and for that reason, we are sharing this information with our delightful readers.
Mainnet Launch Q4 2021
The main reason we are watching these coins so closely is due to Reserve’s “mainnet launch” which has been being hyped up within their community. The team plans to launch the full protocol with multiple levels of security. The team appears to be hard at work ensuring that the code is sound by carefully evaluating and testing the protocol before release.
We feel that this adds a certain X factor if you will to the Reserve Protocol tokenomics, as the team’s priority is ensuring that their protocol is stable and secure. We believe the potential for exponential growth is very strong pending the mainnet launch along with their consistent development since launching initially within the cryptoverse.
The Reserve Protocol
So, with the mainnet launch planned and the tokenomics looking very bullish you may be wondering what the reserve protocol’s purpose really is. The reserve protocol allows any person to create stablecoins backed by ERC-20 tokens on the Ethereum Blockchain. Reserve stablecoins are rightfully labeled “RTokens”.
Once an “RToken” has been launched, they can then be minted by depositing the entire “basket” of collateral backing tokens and redeemed for the entire basket also. The RToken will trade at the market value of the entire basket that is behind it. The benefit to this is that Rtokens can be insured by RSR holders who choose to stake their RSR amongst Rtokens.
The entire purpose is to offer an alternative to traditional “fiat” money. Like the popular Bitcoin, only utilizes different avenues. The idea according to their website is “by aggregating together baskets of tokenized assets, we can create currencies that are stable in purchasing power without being dependent on state-issued currencies.”. The outcome ultimately is a decentralized currency with stable purchasing power that can’t easily be debased. This makes for an exciting road map of the future as the use cases of RSR and RSV are seemingly endless which is what puts the Reserve Protocol on the top of our watch list for tokens with potential.
What Wallets Can You Store (RSR) & (RSV) Within?
There are many wallets that support storage of RSR and RSV. To name a few of our favorite wallets that support this Ethereum token we will list them out for you.
Metamask is a widely used crypto wallet and gateway to multiple blockchain apps. This is a very safe and secure method of exchanging for various tokens across the cryptoverse. Metamask is also able to be securely connected on our exchange to purchase (RSR) and (RSV) for Ethereum.
Trezor is a secured hardware wallet that provides advanced security for handling cryptocurrencies to allow the safest method of storing your investments as nothing online is ever completely secure. This eliminates worry and allows the most secure crypto transactions available today. You are also able to connect Trezor via our exchange to purchase (RSR, RSV) and other various coins using Ethereum.
We, of course are obligated to mention that our very own Stompy Wallets on our exchange can easily be used to store your Reserve tokens as well as any cryptocurrency using multiple blockchains. Always free, always secure – Create your free Stompy Wallet today via our Exchange!
Atomic Wallet is a software wallet that offers security, great customer service, and a large internal exchange. This is our go-to wallet for storing coins safely on a computer.
How Can You Purchase RSR & RSV?
There are many exchanges and places to purchase (RSR) & (RSV). One of which is on our own Exchange here at CoinStomper! You just need some Ethereum available in your wallet and you’ll be able to use our exchange to purchase (RSR) & (RSV). Please see the quick guide below if you are interested in purchasing.
Our Conclusion – Investment Potential 4.5/5
We feel that for long-term investors the Reserve Protocol appears to be a solid and stable option as this coin could potentially explode soon with their mainnet launch. We cannot and would never advise you to invest in any specific coin, however, we can acknowledge potential when we see it and the Reserve Protocol has an endless supply of potential in our opinion. We encourage all our readers to research more into this token using the links below and check this wonderful protocol out for yourselves. Overall Coin Stomper gives this one 4.5/5 stars for its incredible potential.
Discover more about Reserve Protocol (RSR) & (RSV)
This is NOT Financial advice.CoinStomper.Com always recommends doing your own research before making investments.