What is Reserve Protocol? Reserve details (RSV)

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2021-03-22 13:08:04

What is The Reserve Rights token (RSR)? Reserve Protocol (RSV) price, marketcap, chart, and fundamentals info

Reserve Protocol is a development team initiative that aims to build a stable, authoritative, real-asset-backed cryptocurrency and a scalable digital payment system with need and maintain 100% of collateral or more.

Reserve is a Blockchain project that issues Stable coin aimed at serving markets like in countries with economic instability like Venezuela, Angola, Zimbabwe,… what these countries have in common is that they have inflation rates up to 1,000,000% +. According to the development team’s definition, Reserve is a global stable currency, providing an electronic payment system to serve everyone and businesses, especially in countries with high inflation index. Moreover, it is possible to solve the problem of counterfeit fiat currency and will solve the problem of scalability and lack of transparency about collateral that some other Stable coins are facing. At the same time they created a global payment system based on this solution.

Note The Reserve Rights token (RSR) is a cryptocurrency that plays an important role in helping stabilize the price of RSV (Stable coin) and below CHK will mention. In addition, RSR is also used to vote on Reserve Protocol and this is also the token that will be sold on Huobi Prime.

In summary, Reserve aims to solve the following problems:

  • Legal currency in some countries is inflationary, government is poorly managed in some developing countries.
  • The fiat currency is an increasingly advanced production technology, but there is still a risk of counterfeiting and devaluation.
  • Some types of Stable Coins are currently not resolved such as scalability, or lack of transparency about collateral that some other Stable coins still suffer.

Reserve Protocol (RSR) price stabilization mechanism

What is Reserve’s price stabilization mechanism?

Before talking about the price stabilization mechanism of Reserve Protocol, let’s explore the following definitions with CHK:

  • The Reserve token (RSV): Stable Coin, used as USD or other fiat.
  • The Reserve Rights token (RSR): is the electronic currency that helps to stabilize the price of the RSV. This is the same token that will be sold on Huobi Prime.
  • Collateral token: is a token that guarantees the value of the RSV Token. Collateral token will be kept in Reserve smart contract. Some Collateral tokens will be encrypted assets, such as bonds, goods …

Reserve Protocol consists of 2 value pools:

  • The Reserve: is a stablecoin, has a fixed value of $ 1.
  • Vault: corresponding to collateral, used to buy Reserve when demand decreases. The aim is to always ensure (at least) 100% Reserve is collateralized.

Now, let’s learn about price stabilization for Stable coin, there will certainly be 2 cases:

Case 1: When the price of the RSV falls below 1 USD

Reserve Manager (of Reserve Protocol) will use Vault to buy back RSV in the market, and burn them. This raises the RSV price to a steady $ 1 level.

Case 2: When the price of the RSV is greater than 1 USD

Reserve Manager will auction the RSV Token it is holding at a lower price. This pulls the RSV price back to a steady $ 1 level. If the number of RSV tokens remains, Reserve Manager will use the RSR token (Reserve Rights Token) to redeem this RSV token with the value of 1 USD of the RSR token. Then into circulation, of course this amount of RSR token is then burned.

Reserve IEO information (RSR) on Huobi Prime

  • RSR is ERC-20 standard utility token, built on Ethereum Blockchain.
  • Ticker: RSR
  • Total supply: 100,000,000,000 RSR

Information about funding and distribution rounds Reserve

Seed Round

  • Number of shares sold: 12,392,000,000, accounting for 12.39% of total supply
  • Price: 0.0004 USD / RSR
  • Distribution: installment payment 6 months after mainnet launch expected in 2020

Private Round

  • Quantity sold: 1,000,000,000 RSR, accounting for 1% of total supply
  • Price: $ 0.0020 / RSR (bonus included)
  • Distribution: 25% unlocked will be distributed before the IEO date on Huobi, 75% amortized after 3 months

Hot and cold wallet addresses will be announced prior to the launch of Huobi Prime.

What is Reserve's hot and cold address?

Information about IEO sale on Huobi Prime

  • IEO Price: No information (CHK will update later).
  • Volume of RSR Token sold in IEO: 3,000,000,000 RSR (accounting for 3% of total supply).
  • Total fundraising via IEO: No information available.
  • Selling time: 20h00m00s to 20h19m59s on May 22, 2019.
  • Form of sale: Divided into 2 Rounds as follows:
    • Round 1: 19h00m00—19h09m59 (GMT + 7), sell 20% ~ 600 million RSR in IEO, first come first buy – FCFS. Price 1 RSR = 0.0011 USD
    • Round 2: 19h10m00 – 19h19m59 (GMT + 7), sell 80% ~ 2.4 billion RSR in IEO, the purchase amount is calculated by the formula: Price 1 RSR = 0.0006 USD

Token Allocation:

  • Foundation: 58.6%
  • Development Team & Advisors: 20%
  • Strategic partner: 5%
  • Fundraising (of which 3% will be sold through Huobi Prime): 16.4%

Note:

  • (Personal Order) / (Total Order) x (Total Token Sale in IEO) x 80%
  • Buy with: HT (price of HT Token will be fixed and announced before IEO takes place).
  • Conditions for participation: Hold minimum 1,000 HT for 7 consecutive days from 23h00m00 14/5/2019 to 22h59m59 on May 21, 2019. Daily random snapshot (GMT + 7).

Calculating the amount of Cap allowed to buy:

Trench Lowest Daily HT holding (in HT) Individual Cap (in USDT)
First Trench 1000 ≤ x <2000 400
Second Trench 2000 ≤ x <3000 800
Third Trench 3000 ≤ x <4000 1200
Fourth Trench 4000 ≤ x <5000 1600
Fifth Trench X ≥ 5000 2000

In what exchanges is RSR traded?

There are currently no RSR tokens traded on any large and small cryptocurrency exchange. After conducting IEO on Huobi Prime, RSR token will be first traded on Huobi Global. Information about the first trading pair listed with the RSR Token has not been officially announced.

Reserve Token (RSR) price, marketcap, chart, and fundamentals info Is there any potential? Should you invest in Reserve Token (RSR)?

Reserve is a new project launched in the second quarter of 2018. One of the highlights of this project is the group of investors behind it. It is known that the reserve fund is supported by large funds such as Coinbase Ventures, Peter Thiel, Digital Currency Group (DCG).

In addition, Reserve Protocol has designed a stable price mechanism with three different tokens and Tokens for you to invest in and expect it to increase in price is the Reserve Rights Token RSR. Most importantly, we should remember that the sole purpose of the RSR Token is to stabilize the price of the RSV Token (Stable Token). This means that the project needs to increase the demand for RSV and the demand and value for RSR will most likely increase.

Some noteworthy details that investors may need to refer to before making an investment decision:

  • RSR token is used to stabilize the price of the RSV Stable Token.
  • Team dev plans Mainnet in 2020.
  • Reserve is invested by Coinbase.

summary

Through the article Reserve is what ?, CHK hopes readers will receive a lot of useful information about Token RSR as well as the Reserve project. However, the article is not a financial investment advice, every decision is up to you. CHK wishes everyone a lucky and effective investment!

#Reserve #Protocol #Reserve #details #RSV

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