If you have put aside reserves on your crypto budget, why not buy Reserve (RSV), this new stablecoin which has the ambition to eventually self-regulate, without necessarily having to rely on a fiat ? This is the question that may arise for you after discovering this most discreet project that may well make noise in the future
A doubly ingenious stablecoin
Reserve is one of the most discreet projects – so it is aptly named – from the cryptosphere. Bof, yet another stablecoin, you might say? It’s always the same thing we get! Well maybe not!
To begin, RSV differs from others by the fact that it is supported by heavyweights of the cryptosphere: the exchange Coinbase, the CEO of Y Combinator, Sam Altman, and the billionaire Peter thiel.
This new stablecoin will be developed using a 2-token model: the RSR and the RSV. The RSR is a utility token which guarantees the colletarization of the RSV ; it allows its holder to participate in the governance of the project and gives it the right to play an arbitration role.
When the price of RSV is lower than the target value, the protocol encourages users to buy tokens to increase the price; conversely, if the price is higher than this value, they are encouraged to create new RSV to lower the price.
The RSR has a burning device which decreases the supply over time and which guarantees its price level.
3 phases towards independence
The protocol RSV has 3 phases:
- the first centralized phase is a phase during which the token RSV will be backed by a small number of collateral tokens, which will each correspond to tokenized dollars ;
- the second decentralized phase will see a RSV whose price will always be backed and stabilized by the dollar;
- the third “independent” phase will decouple the RSV of the US dollar and, the mechanisms in place should stabilize its purchasing power regardless of fluctuations in the dollar.
Reserve is already available at Venezuela and will soon be launched in Argentina.
If Reserve wins his bet, this would be proof that stablecoins can exist without having to rely on a fiat or any asset. Reserve could thus give the American Federal Reserve a hard time when it comes to conquer the US market.
Litecoin, welcome in the Silver Age