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Stablecoin protocol Reserve invests $20M in Convex, Curve and Stake DAO
New semi-algorithmic stable coin to go live on Ethereum on Oct. 10
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Nothing. RSV is tradable on ERGO's dexes, but that's different to redeeming it and doesn't affect the ratios
Isn’t RSV preferred due to it being a stablecoin pegged to USD with convertibility to BS and other Latam currencies?
Great thanks. I started looking into it last night. Got a bit confused in the RSV vs RSR bit. Though I had had a few gins so probably best to look with sober eyes this morning!
Interesting one man. I'm just getting to know about it. Is RSV listed on an exchange ? CYMI is the utility token for CryptMI and it's currently trading on AscendEx.
In latam it’s called holaReserve. People use it as a mobile/digital wallet spending RSV token which has its is treasury in BUSD, USDC and RSR. RSR holdrs can stake and sell RSR to abritage RSV
RSR, 100% It's a collateral token to back RSV or it's RPay app. RSV is currently pegged to USD but will be pegged to numerous assets to counter inflation. They're already making 50-100 million USD in transactions on the RPay app which is currently only available in a few LATAM countries. People that use the app don't even need to know that they're using the Blockchain but it's also looking at becoming an on and offramp. It's a very exciting project.
Thanks, better now, just the rest of the household. RSV then covid; have felt like the walking dead this past month.
I believe Ergo’s SigUSD-SigRSV is worth a look. SigUSD is easy to understand RSV is kinda tricky someone with a developer background would probably have an easier time understanding it faster.
Not necessarily in BItcoin, I know that in Latin American countries rPay (RSV/RSR) is really popular
Saved you a click: What is Reserve Rights? After their 2019 IEO (Initial Exchange Offering) on Huobi Prime, Reserve Rights (RSR) has channeled efforts toward developing an asset-backed stablecoin system. Asset-backed stablecoins maintain a stable value through support by assets of equivalent value locked in a contract and added to maintain value. Reserve Rights target the problem of inflation. Their platform allows users to create asset-backed currencies (“RTokens”), which are fully-backed stablecoins that are always redeemable for those underlying assets. By allowing users to create their own RTokens, they’ll be able to tailor their own “perfect” basket to hedge against inflation. We’ll discuss RTokens in more depth below. Key take aways: Reserve Rights’ permissionless platform allows any individual or organization to build, deploy and govern asset-backed stablecoins. Reserve Rights operate a non-algorithmic stablecoin (RSV) pegged to the U.S. dollar. RSV’s peg is maintained through an issuance and redemption system, which requires that some selected tokens be locked on the protocol. These tokens are released on redemption. Reserve rights’ native token (RSR) provides governance to individual stablecoins, along with backstop insurance in extreme market conditions in return for yield. It is also used on the governance portal to submit and vote on community proposals.
There’s still a lot going on in the world, Ukraine, inflation, COVID/flu/RSV. I like the recent market movement but I don’t think we are out of this just yet. That said, I’m still investing in crypto, Good time to stack.
This is too funny. Why in gods name would etc get all that is build if eth fails? A project the founders of eth have abandoned, that is barely being developed? Like I said BSC is a better alternative then ETC, a chain that was 51% attacked at least TWICE. ETC should've died after the first time it got attacked. And you basically are doing the same you are accusing me off, which is repeating the same non sense without any back ups. And you call it facts? What facts? ADA and xrp community is like Shib community is a fact for you? Why call someone out if you don't know things yourself. About ADA, it went PoS, it is the most decentralized PoS there is at the moment (and i believe even the most decentralized chain in the top 20 at least with more then 20+ entities needed to do a 51% attack and more then thousand validators), SC has been live (someone people didn't believe would happen), and development is going at a steady pace. DJED alone will be enough to disprove you as it already exist as sigUSD/RSV and the ageUSD protocol has proven to survive multiple attacks on it. There will be things possible on ADA you can't do on ETH, one feature being fees are known before a transaction is done another is to use another token to pay to use the system that isn't ADA. If is possible to use a stable coin for example to pay for transactions eventually or any other coin. Please though, tell me your "facts" how ADA is like Shiba lol.
Exactly, that's why stable coins will become huge as crypto keeps advancing. I'm focusing on projects now that make stable coins their business. For example Reserve Protocol is already very for ahead with their stable coin RSV in Venezuela with 100,000s of users actually using it with merchants. Next up is their insurance platform where investors can earn a slice of the stables coin's yield.
>Reserve's fully collateralized stablecoin RSV is currently accepted at 18,000+ merchants across Latin America through the Reserve app and has a monthly volume of $100m+. These are all consumer transactions, NOT speculation. Latin America has a population of 700 million people. There are millions of merchants and the amounts transacted is hundreds of billions of dollars (in their own currency) per month. Of that having 20k merchants accept a form of crypto with a monthly volume of 100 million dollars is rather pathetic and only reinforces the notion that people by and large (90+%) don't care.
Reserve (RSR, RSV, RSX) is completely different than Luna. Reserve has created a platform for creating stable coins. Anyone can create the ideal stable coin, and back it with whatever they want. The market can decide which stable coins to adopt. RSR is the token to stake against these stable coins to provide insurance incase the stable coin depegs, but the RSR stakers get to earn a portion of the yield these stable coins earn. Right now Reserve has a stable coin called RSV that is backed by USDC, TUSD, PAX and is currently being used in Venezuela. They have over 600,000 users and over 500k downloads on the playstore. IMO they are doing it right, which is building a system to help create the best stable coins (in an open market) while letting users capture part of those stable coins's yield by providing insurance using RSR.
RSR has a stablecoin, RSV that is a very intresting concept on stablecoins.. look into how RSR and RSV work, I believe it will one day become the most reliable stable coin out there
You can also mint via TokenJay or Minotaur wallet (see sigmaverse.io) 1. See ergo.watch for stats - currently RSV has a negative APY. 2. Yes, the way the mechanism works makes it difficult to get that liquidity, but it doesn't get any less robust as it grows. 3. Yep 4. Above 400% RR. You can trade it on the dex outwith this contract though. 5. Likely by stable-pairs (ie, Djed/SigUSD) which provide safe (likely unsexy) yield.
It’s really popular in Latin America where hyperinflation is a real issue. It provides governance & insurance to the RSV stable coin which is fully backed. Here’s an AMA on medium. https://medium.com/reserve-currency/ama-reserves-nevin-freeman-answers-your-burning-ranger-questions-68aaefa9009a
Doesn't matter what SigUSD has gone through. Bearwhale saga or not. You can't find SigUSD anywhere other than on ErgoDex or the SigUSD minting site. There's like 977k SigUSD in circulation according to their website. If you're telling me that it has already replicated other stablecoins battle testing which are billions in circulation across dozens of CEXs and DEXs and with leverage in the picture. I don't see how that would work but you are free to share with me. DJED will obviously have to go through the same battle testing to prove it is trustworthy just like any other stablecoin. Research not equals infallible. Like an audit is not infallible to exploits. A stablecoin has to maintain its peg. It has only one purpose. These are crypto that billions of dollars will be put into and if another UST happens that itself isn't good for crypto. The act of a stablecoin depegging lost people so much money. UST failed its purpose. I hold erg, neta, ergopad, and I even hold some RSV from when v2 launched, not to mention ergnomes and a 1/1 clayverse if you think I'm some kind of hater think again. Low volume, low supply, low user count. It isn't properly battle tested. Especially if it's trying to piggyback off the failure of other stablecoins by touting its peg.
I think $RSV ($RSR) and $DAI ($MKR) are pretty good
Crypto-backed decentralized stable coins that utilize Overcollateralization are much safer than UST, USDC, or USDT. Here is a list of a few I personally recommend. $sUSD $DAI $RAI $RSV
Crypto-backed decentralized stable coins that utilize Overcollateralization are much safer than UST, USDC, or USDT. Here is a list of a few I personally recommend. $sUSD $DAI $RAI $RSV
Legitimately good advice. My first was novavax. Everything looked good for RSV clinical trials. Got out, boom they got covid funding. That loss, even though it was different through missed opportunities nearly made me stop investing and looking elsewhere for innovation. It’s important to move forward. Don’t let fear and failure stagnate you, it can cost you dearly.
I hear a lot of people in Venezuela are using Reserve app ($RSV and $RSR) to protect their purchasing power. All 8 Burger King branches accept Reserve as payment. Can you please share your experience with Reserve if any and your overall sentiment? Thanks.
Unless it's RSV backed by RSR and is already used in multiple commerces in Venezuela, Argentina etc.
learn the coms. No1 priority, Bring Down The FEDS. There is the Fed RSV Dollar and there is the U.S. Treasury Dollar that usurp by the FEDS. Crypto and Gold Bring Down The FED. NCSWIC.
Are you agreeing or disagreeing with OP? RSV is a stablecoin.
*cough cough* RSR Burger King just announced they're accepting its stable coin RSV in Venezuela https://twitter.com/reserveprotocol/status/1471510480090906635
I'm already allocating a portion of my mining to ERGO. It's fairly new compared to Ravencoin, and already has an impressive ecosystem. ErgoDex, NFT minting, SigmaUSD/RSV, and partnered with Cardano... I'm super excited for Ergo's future considering how much has been done in such a short period of time.
RSR - it's the governance token of RSV (vaguely similar to the LUNA model), and as adoption in Venezuela and LATAM has absolutely zero correlation to Bitcoin's waves, I'm expecting it to keep growing. And with RSV as a fully collaterised stable coin (no algorithm, not under insured), and with yield (without staking) on RSX, I expect it to shine in a bear. I also think HTR will follow Bitcoin, but will be worth holding through until the next bull run (unless you're very sure of yourself as a trader).
I wholeheartedly agree with your post. I always liken this to the internet bubble as well. There's a WHOLE LOTTA SHIT within this crypto bubble, but there's definitely amazons, googles & apples drifting between them. There's 4 projects I'm closely following and believe will survive due to the same reasons; Already have a product, already have adoption, product adds value to existing usecase (and solves an existing problem) & product is usable without blockchain/crypto knowledge. Here are they with a brief description and % of my portfolio to indicate my level of belief in their product & survivability: 1. GET Protocol (90%) - NFT ticketing, solves scalping, lack of transparancy, customer insights & fan<>artist interactions. 2. EvidenZ (5%) - Issuing tamperproof certificates. 3. Reserve Protocol (3%) - Stablecoin creator with staked RSR as backing, as well as RSV to solve hyperinflation. 4. Verasity (2%) - Ad serving system that cuts out the middle man and adds a whole lot of transparancy to the different steps needed for serving an ad.
tldr; Reserve is a tool to exchange Venezuelan bolivares for U.S. dollars via the Reserve (RSV) stablecoin. After one year on the market in Venezuela, Colombia, Panama and Argentina, there are over 100,000 weekly app visitors and over 8,000 merchants accepting it as a means of payment. Reserve has said that its use cases are increasingly growing in Latin America. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
A currency that would work well could be DAI on Polygon network, since it is stable and has low fees. But really I'm not sure there is any good reason for people not to use USD for everyday purchases. Otherwise, I think RSV will be a good option soon, which has been seeing a strong wave of adoption in Latin America. I also think that Holochain-based mutual credit currencies like Holofuel and IOEN community credits will be good options in the future.
There's a lot of potential with RSR/RSV but only time will tell.
I’m not gonna shill it but look up RSV and RSR. They have notable investors. I was actually just on the website right before I seen this haha
Your thesis is mine OP, with some tweaks: I might only exit 60%, a hedge bet if you like that (in the coins I'm in in particular),a bear bounce might be short. I worry about the sustainability of some stable coins, in terms of peg and keeping a high APR, so I may be back in FIAT for a while unless something really sticks out to me (RSV may be a stable coin I look at).
My personal conviction bets - all of which have refused to run so far, which for me screams "DISCOUNT!!" right now - are ones that have use-cases away from crypto, and their prices do not rely on people buying the coins and moving the price that way. My only criteria are ones that will still be around in 10 years, although I'll be taking profit in stages, including this run. They are... RSR, HTR, OCEAN RSR (4c) is perfect - it's offering a stable coin in countries such as Venezuela, where hyperinflation runs at 4,000%. So non-crypto people (100,000 of them in the last six months) and shops (7,000, again in the last six months) are now accepting RSV (the stable coin) and using it as payroll. RSR is the governance/staking token, and I look forward to its price as adoption outside of crypto continues to grow. Backed by Peter Thiel, Coinbase, others, and they purposely stay in the shadows about it. OCEAN ($1) - It has data use partners with contracts running until 2029 (I think), and I see it growing and growing. HTR ($1) - I'll find it tougher to explain this one, but I think it will blow up to be a monster, in the way SOL and ETH have. Seamless token creation and partnerships. But it is my slight wildcard. VRA (7c) would be here - but it was more compelling at 2c in July rather than 7c today. However it's patents around video blockchains are solid, and the staking returns are great. Outside punts: BitDAO (mainly because Peter Thiel), and CIRUS (I'm unsure if they will deliver, but it will blow up next year if so)
You forgot that RSR/RSV is the only stablecoin actually used by regular people for their daily needs.
Haha to be completely honest it’s my most pointless and emotionally driven bag. I woke up about a year ago and realised I had drunkenly purchased it randomly. Looked into it and started enjoying following the project and what they’re doing with their app and it’s stable coin RSV in Latin America. Was making money so DCA’d in for a while. Was wavering on selling when they did an Q&A sesh in this sub and fell back in love with the bag. At this point I’m happy to sit in it long term, as the project is progressing and I’m healthily in profit and about to get a CGT discount on my holdings.
Thiel is heavily invested in RSR / RSV, If any other crypto comes to Paypal I would guess it being those two.
Sounds like a cool mixture of features though I would be careful about getting into them. The vesting schedule for rewards is not an uncommon idea, Kava, DeFi Kingdoms, Viperswap, and Dinoswap all have drip fed rewards over time that eventually scale out. While this stops people from dumping it can cause slow bleed situations due to locked assets being a little bit frustrating. Early adopters find this stuff and have historically hated it making it hard for projects to spread by word of mouth if they use vesting even though it seems like perfect protection for them, also I don't like to bet heavily on supply squeezes. Numbers can be very hard to track effectively. That said vestingusually shows a solid commitment from the team. As for the PWRD and GVT is sounds quite a bit like Ergo's SigmaUSD protocol or RSR/RSV. Stablecoin utilization with an external risk bearing asset for high yields is a pretty cool and innovative idea that's been coming up lately. As more money enters the space and volatility decreases I think this could become a solid framework to build upon further but trying to do so now with meager TVLs is kinda like walking into a test on the first day of class. If it can get through this and maintain returns and pegs it'd be pretty awesome. I'm guessing this is all done through something like Yearn or Curve forks to maximize yields on the stables? If so, those numbers are kinda just okay compared to LPing for stables yourself but maybe I'm under selling it and the mechanisms.
Stable coin for countries in hyperinflation, currently launched in Venezuela, Argentina, Peru and... Columbia I think? Lebanon and Turkey on the list, and Mexico before the end of 2021. So in Venezuela, inflation is at 4000% a year, or if you are a Reserve user (300,000 so far), you swap your local currency into the stable coin RSV, and then you've escaped hyperinflation. 5,000 shops use it and MainNet this quarter. RSR is the staking coin that gets the value of the ecosphere. Anyway, they partnered with Axies in July or so, so that you can be paid directly into the app, otherwise there's something crazy like a 20% surcharge to get it into FIAT, and bonus points be out of an unstable currency at the same time.
Reserve Protocol aka RSR is already helping combat hyperinflation and money remittance with their stable currency RSV in LATM countries
2 things; Crypto investors need to start focusing on, and appreciating, real world usecase. Second thing will then follow, namely more projects will start focusing on real world usecases. Crypto is already becoming mainstream. In fact, there's quite a few projects out there that are already mainstream. Now you'll ask "How?!". Because they grabbed a real world problem that couldn't be, or was hard to, solve and fixed it using blockchain, in such a way that the product is better and, more importantly, easier to use. To mention a few; GET Protocol; Ticket scalping, lack of transparancy, lack of insight in ticket buyers (2nd hand buyers in particular. These are some of the real world problems GET solves. It's integrators are selling tickets (1000s, daily) to non tech savvy people, as GET Protocol hides crypto&blockchain from the customer's eyes. Reserve Protocol; Hyperinflation it what it solves. It provides a protocol with which stable coins can be created using a basket of digital backings to the creators liking. RSR staking is used to manage the risk and keep the stable coin stable. RSV is their own fully backed stable coin and it's used right now in Venezuela to fix hyperinflation. People are buying their groceries using it right now. Again, non tech savvy people are using it, as their product (an app) keeps the crypto/blockchain hidden.
Aprilia RSV4 Factory squid here
An Aprilia RSV4 Factory and a Porsche 718 GTS
Just checking in with you guys, been super sick (fucking RSV). ATOM been awesome. That 50 comment thing sucks for the daily. 😑 Green dick energy my friends.
Yeah, I don’t really understand all the ins and outs, but it seems RSR is used to stabilise RSV, no idea how those mechanics work though!
I still hold it but it's still currently lower than my buy-in price. I bought in before the May crash hit it. Truth be told, I don't really know how it's supposed to return value to holders. I think the project has big names behind it, and they did do an AMA recently here which I still need to pick through. I get that RSV is the side of the project with the 'function', but I still don't understand how this integrates with RSR. Sorry to have given you a non-answer. I'd quite like for it to do well but I get the impression it's a bit of a work in progress.
I agree with Brian, I don't think BTC is the ideal inflation hedge/stablecoin/resvere currency. I'm looking more at RAI, OHM, RSV, and FRAX. Most of which are not in final forms yet, ie are still tracking USD. OHM I think is the most interesting as it has a treasury of income producing assets. I have not take the leep yet but I have looked hard into joining the (3,3) club.
what would be the name of first rtoken? i think it should be something generic rather RSV, something like USDR - easier for people to get that its pegged to USD but with a return ;)
I don't think there is anything wrong with the market being over saturated with stable coins. They are just tokens that hold a value of an asset or assets backing it, and their purpose is to be stable. But the ones that generate yield and have a strong, innovative team with transparency will most likely become more adopted. I think projects like Reserve are taking the right approach in that they are targeting countries with bad inflation and also creating an investment coin like RSR to appreciate along side their stable coin as it becomes more adopted. The biggest achievement here is how they are making it very easy and seemless moving fiat in and out between RSV in their app. It's like believing in USDC, but can you actually "invest" in USDC and make a huge profit 10x,20x,100x gain as it becomes more adopted - no you can't, and this is where RSR comes in. It's a token used to insure their stable coin while earning interest on it, but as the stable coin becomes more adopted, and more value backing it, RSR becomes more lucrative because it will earn more interest, thus investors will want to buy more RSR to get that higher interest rate.
On a high level, I'd say the main difference is that we have focused on making RSV accessible in markets with significant currency problems, where there is a really significant organic demand for an alternative, whereas Terra has focused on getting UST used in markets that (in my personal opinion) are in less need of an alternative currency through use of extrinsic incentives. They've also obviously done an impressive job of bringing in crypto speculators with their multi-layered yield farming approach, and we have not done anything like that so far. I think these different strategies come from different underlying intentions, where the Terra team is intending to maximize the price of LUNA in the short term through whatever means is most effective, and the Reserve team is intending to make stable currency universally accessible to all (even if USD has problems in the future), with the aim to make a healthy profit in the long term. For speculators, holding LUNA recently would have been a very profitable choice! I would encourage you to think ahead though – where does it eventually lead, especially if the pools of incentive capital run out in a bear market?
No, RSR backs the stablecoin from defaulting. RSV is the stablecoin. Here's how it works: Their is a smart contract that holds stablecoins and other assets. So USDC, DAI, and PAX are in a basket. RSV is issued and in circulation and this RSV is directly redeemable for assets in the smart contract. The smart contract also has staked RSR. Pretend for a second that PAX defaults because they fail an audit. Now all of the staked RSR can replace the failed PAX and maintain the value of the basket. This is bad for stakers though as they lose their RSR because they are insuring the value of the stablecoin. On the flip side the assets can generate revenue. If you stake RSR then you are entitled to a fraction of that yield and make money. Essentially RSV is a stablecoin backed by a diversified pool of stablecoins AND a pool of staked RSR. This greatly decreases the risk of losing the stable peg. If you own and stake RSR you are essentially an insurance company that is the last line of defense for the stablecoin. TLDR: If you think people in third world countries want to have access to stable money in a Venmo-like app. You should invest in RSR and stake it.
For Westerners? Nothing. For Reserve's target audience? It's the only stablecoin available, easy to use, with active adoption and support. Find a vendor in Latin America that supports USDC. RSV? Thousands of them.
1. If anyone can issue a stablecoin provided they chose the assets backing it, what keeps the peg? And can you choose at what price will the peg be kept? Saying this if for example, I wanted to make my own stablecoin with my own bank account in euros via a tokenized euro token that I made myself and some DeFi tokens, and have some of the profits go to myself and RSR holders for insurance. Could this be possible in the new RToken ecosystem? 2. When will the app transition to on-chain transactions? Will it be self custodial in the near future? If not, why? 3. Will you afford users a way to register for a davesmith.reserve in order to easily facilitate the transfer of money, similar to ENS? Or to have ENS compatibility at all. 4. Have you figured out a clear model for private (anonymous) transactions? Say 20% of your yearly volume for example? As far as I know, there are no zero knowledge proof stablecoins right now. Have you thought about this? Will the protocol allow something like this to exist? 5. What happens when the locked RSR value is, for example, 500m dollars worth, and the protocol needs 1 billion to buy new collateral? 6. What happened to the original RSV vision of a stablecoin eventually having no peg at all and being stable in terms of purchasing power?
When do you have a plan to become available in the United States. Being available vs limited could separate the project from others. The project is doing very well in Venezuela. Why can’t RSV a stable coin perform as well in the CEO’s country?
As a non-LATAM citizen, are there some exciting merchants/payroll company partnerships that you can mention and we can look up? I read about Ridery (LATAM-like Uber) accepting RSV, pretty exciting!
A long way to go it’s been 4 years SOL and DOT only took one year just keep believing what this sub say clearly if you listened to them you wouldn’t make hardly anything in this bullrun ALGO ain’t going anywhere anytime soon ERGO will go max £20 and yeah sigma RSV all a whale got to do is pump and dump on you
It's got a long way to go as in it needs to have a solid plan and roadmap for the future, which it doesn't have at all. ERG and RSV? You mean SigmaRSV? What don't you like about it?
There's two coins under the reserve banner. RSV - Is the stable coin. RSR - Price fluctuates with the market.
Exactly it’s got a long way to go so that means it’s gonna be around for a long time and it’s going to merge with ETH soon so that can make the transactions faster and why didn’t you say anything about ERG and RSV because you no that’s what makes ERG so shit
It is for the time being but the goal is to peg it to a basket of goods eventually. It could be things like oil, gold, lovestock, real estate, commodities, or whatever. I presume the dollar could be one of the pegs but it will not be the only peg. By doing this if peg crashes it doesn't bring down the entire value of RSV and that is where RSR comes in the prop RSV back up temporarily if needed.
ERG and RSV and the fact is has unlimited supply before you say anything DOGE is a currency so it should and the fact that it hasn’t gone anywhere in 4 years
Definitely a fair concern, but there seems to be a lot of concern about supply at the moment, yet the supply situation hasn't changed. Yes there was the possibility of burning RSR for stabilizing RSV, but also the possibility of RSR being minted.
To be honest this sounds like they've achieved their aim. It really is a crypto project, I think the fact the RSV app not appearing like a straight crypto is a benefit for mass adoption, as it's simple. If you look into the workings of the protocol when main net comes you'll see that for yourself :)
When will mainnet launch? Will it include the RSR-RSV arbitrage mechanism?
RSV is the stablecoin. RSR will be arb’ed to keep the RSV at 1 dollar. This is why rsr max supply is so high. New tokens will require minting and burn over long time frame to keep it stable.
With the current investors backing Reserve. Have there been discussions/plans with PayPal to hold RSV and/or RSR on their platform?
What’s the difference of RSV against other stablecoins like USDC, BUSD, or USDT?
With the current investors Reserve has backing the protocol. Have there been discussions/plans with PayPal to hold RSV and/or RSR on their platform?
13. Some people in the community say that RSR price is directly correlated to RSV adoption. While this might have been true in the old version of the protocol, it might not be new due to the fact that RSV (or RSD, the token that is backed by only tokenized dollars) won't generate revenue. Is RSR price correlated to RSV/D adoption? If not, what can be done to remediate this?
With the current investors Reserve has backing the protocol. Have there discussions/plans with PayPal to hold RSV and/or RSR on their platform?
6. What happened to the original RSV vision of a stablecoin eventually having no peg at all and being stable in terms of purchasing power?
I've been following Reserve for about a year now (slightly more), and would like to know what the point of RSR is if the main goal is for the people of countries like Venezuela to have a stable alternative to the USD in the form of RSV. Thanks\~
Hey OP! As a Venezuelan, have you heard about Reserve Protocol and their stable coin RSV? I believe I read something about it being used to pay groceries over there. Was wondering if you knew about it and if it's widely known/used?
There's an exchange aimed specifically at latin American countries. It's called Reserve and they have their own cryptos, RSR and RSV. It's what I use (venezuelan)
At the risk of shilling, but aiming to do it as factually as possible. I think RSR won't need to rely on the crypto market with time. It has a stable coin called RSV which is pretty literally pulling people out of hyperinflation in Venezuela (and Argentina, and two other countries I think). Imagine your local currency being in hyperinflation of 4000% per year. So if you saved $10,000 last year, it might be worth a couple of hundred bucks this year. Or you move it to their stable coin: Now a dollar remains a dollar remains a dollar. Their beauty is it's entirely for non-crypto people: made so easy your mum can use the app, no messing around with exchanges or anything. Full customer support, full word of mouth adoption. Think of it like PayPal, except meanwhile your own money is deflating hard and this is a life-raft. RSR is the deflationary governance token to it, and I'm bullish on that - it's a slow burn though. If you are a skilled trader you can probably do better elsewhere. I plan to hold for many years (and take part in arbitration / yield). That's one coin where I think in time, it's price will reflect RSV's market cap, rather than the wider crypto market, and I can see them going for a long-term 15/20 year plan. I can't speak to these next ones with the same degree of detail, but a think HTR and OCEAN are two which have had cases broader than crypto. I'd have said LUNA, I think it has a great future, but as it's gone from $10 to $50 in a month, I don't want to point anyone into Ape-ing into it :) still a great coin though. And speculatively, I'm looking at VRA as a long play, as I trust they can build video-based partnerships on their patents over a long term. Final disclaimer, I'm not a trader: I want to hold any of these for 5+ years, but will take profits along the way as it makes sense.
Theta HTR RSR RSR especially, as the adoption of RSV (the stable coin) ensures success. 70,000 new customers in the last three weeks
$HTR $RSR $OCEAN I'm setting and forgetting for the next bullrun. I do think $RSR goes insane next year, bull or bear run. It wi follow a $LUNA style run where the coin is deflationary/burnt as it's stable coin partner $RSV goes up in use. And that stable coin is going nuts.
You mean RSR? The way the crypto coins work might be technical, but I heard the app is rather easy to use. You just buy RSV (the stable coin) using fiat, then use the app to pay with RSV.
Look into RSR and RSV. Venezuela and Argentina are the target markets. RSV is essentially a stablecoin backed by a pool of other stablecoins and RSR is the governance token that stabilizes RSV from volatility. Basically if you believe your comment to be a worthy investment thesis then I recommend researching RSR.
RSV is backed by TUSD, USDC, and PAX
BTC has no shot. The only one that can/will is a stable coin… RSR/RSV is the way.
Countries suffering with hyperinflation will be first, Venezuela is already adopting stable coins in stores, the reserve app is already been adopted by 4000 businesses as a method of payment using its RSV stable coin for both goods and payments by customers with >100,000 users as of this month. Would be more on there app but they’ve currently been limiting users, next month it’s open to anyone that wants to use it. Going to be interesting to see how much adsorption is going to get.
Couldn’t imagine buying a load of bread with btc but in Venezuela I can buy a load of bread with RSV through the reserve app extremely easily. $RSR
Reserve protocol is gaining quite lot of momentum too. $RSR $RSV
never heard of RSV? it's a stable coin with real world application fighting hyper inflation by giving people a stable currency they can easily exchange to and which can also be used to reserve up.
The Reserve Rights project created a stable coin and uses a speculative coin to stabilize it through arbitrage (RSV/RSR). RSV is used in Latin America as a currency by hunders of thousands of people (who dont care about crypto) and more every day. RSV price has been soaring in the last few weeks.
Imagine living in a country where hyperinflation is 4,000% a year. So if you had saved $10,000 last year, it might be worth a few hundred bucks this year. That's what it's like in Venezuela (29m people), and there's about 2p countries with varying degrees of that scenario. Reserve have early PayPal vibes, where you can simply - as someone who might be unbanked and never heard of crypto - put your inflating currency (e.g. bolivers) into their stable coin RSV. It's a game changer to these countries - like a real world cheat-code. Marketing starts this month, mainnet by Christmas, and RSR holders (the governance token) benefit by arbitrage and deflation. (RSR is burned to keep RSV stable at $1, although the coin itself is pegged by a real world basket of assets). I think they're going to hit network effects in 4 countries over the next year, and I look at their potential market cap as something that's unrelated to crypto (e.g. the aforementioned PayPal). Mentioned above that it's my big gamble - I've moved a big % of my portfolio to it.
Reserve token. It has a stable coin RSV which is pegged against the dollar. RSR is there to help maintain the value of of RSV as a stable coin. All in all it’s a sound project with quite a bit of venture capitalist backing
Keep an eye on what Reserve are doing with stable coin RSV. It's crypto / stable coin use for the unbanked in hyperinflated nations, and you'll never need to hear the word "crypto" once. Simply saving your savings (from hyperinflation) by topping up your app, like you might add money to a PayPal account. I can see that being a good gateway in, especially as so think it has gateways to BTC/other crypto.
You should check out $RSR/$RSV. They are currently looking to expand to Lebanon
I’m petrified of needles after a bad previous experience. Covid vaccine was so easy I’m not even fretting any future boosters. And actually rooting for this mRNA development that would vaccinate against covid, flu and RSV all in one. Gonna be first in line for that if I can.
Got some, the way they explain the process it'll inevitably make money. It has to be burned to balance RSV to match the inflation of the US dollar
Absolutly. A lot in the pipe. SigmaUSD and the pendant RSV are quite simple to use.
RSR is one of the two coins used by the Reserve protocol. The other coin is the stable coin tied to the US Dollar RSV. RSV is backed by a collection of other stablecoins, bonds, and other on and off chain assets. Although not nearly as extreme as other assets stable coins can slightly fluctuate in value. No matter the price of RSV, RSR can be exchanged to purchase RSV at a price of $1. That same RSV can then be immediately sold on the open market at the going rate until the price of RSV is once again stabilized at $1. This is called arbitrage. The Reserve protocol team is actively fighting hyper inflation in South American countries such as Venezuela and are currently looking to expand into Lebanon and other places where the national currency is untrustworthy. Major investors include Coinbase ventures, Peter Thiel, and Y combinator. Businesses in Venezuela are already accepting RSV as a form of payment and the demand to gain access to the hola reserva app is increasing every day. If you believe in the future of stablecoins as a way to fight hyperinflation in the third world. RSR is an amazing investment. RSR is an extremely risky investment. The future of stablecoins is unpredictable and attempting to be a global store of value to combat hyperinflation in the third world is a lofty goal. If the team can pull it off however then it could be the best investment you ever make.
I want RSR to go back to 1 cent so that I can buy a fuck ton and hold until it gets listed on Coinbase. Then I'm gonna sell enough to get my initial investment back and then hold until arbitrage is implemented in a few years and Venezuela, Argentina, and Lebanon all use RSV and crypto to beat hyper inflation.
I wish we had easy access to RSV it's essentially a stablecoin backed by every stablecoin you mentioned.