Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

The Reserve Rights Token: An Analysis

CryptocurrencyMar 31, 2021 02:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
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 Ethereum 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.

Continue reading on DailyCoin

The Reserve Rights Token: An Analysis
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email