The Reserve Protocol!

Welcome to this new blog article!

In this article, we will tell you more about the Reserve Protocol. If you ask us, we definitely will follow the news about this new project for possible profit opportunities.


Reserve Protocol 

The Reserve Protocol was built to be secure and provide a viable alternative to the centralized fiat currencies today. They've deployed a basic stable coin on Ethereum, RSV, which wraps existing fiat-backed USD stablecoins. Right now, it's supported by 1/3 USDC, 1/3 TUSD, and 1/3 PAX.

RSR - RToken 

Reserve Rights (RSR) is an ERC-20 token that will serve two primary purposes for the protocol, ensuring reserve stablecoins through staking and governing them through proposing & voting. 

Reserve Rights (RSR) exists as a backstop to make RToken holders whole in the unlikely event of a collateral token default. RTokens are community-created stable coins built on a smart contract with many collateralization options decided by its creator. 2

For RSR holders to provide this insurance, they can decide to stake on any RToken. In return for providing this insurance, RSR stakers can expect to receive a portion of the revenue the RToken they chose to insure makes

For RSR holders to provide this insurance, they can decide to stake on any RToken. In return for providing this insurance, RSR stakers can expect to receive a portion of the revenue the RToken they decided to insure makes. 

Adoption 

The Reserve App allows people to save, spend, and receive money in a stable currency without needing a foreign bank account. As you can see in the graph, user numbers are increasing regularly, additionally, over 25,000 merchants are accepting Reserve Protocol as a payment method. 

On the other hand, social metrics are also supporting the increased adoption of Reserve Protocol.

Mainnet Launch 

Mainnet refers to the Reserve app working with RSR staking feature with RToken compatibility. Preserve Protocol announced that mainnet will launch at Devcon on 10th of October. 

At the event, the team will be giving everyone in the room the tools and knowledge to launch RTokens and build on the platform.

Once the mainnet has launched, Reserve intends to support communitycreated Reserve stablecoins (RTokens) and make them available in the Reserve app. 

The launch of mainnet was a long awaited event in the community because RTokens feature is a key element of usage for RSR. After the mainnet launch people will be able to stake their RSR token on RTokens to earn yield which will add more value and utility to RSR. 


Conclusion 

The Reserve Protocol is an alternative system to centralized fiat currencies and RSV was very stable even though hard market conditions in recent months. Adoption of Reserve App, main net launch, and RToken launch gives bullish signals fundamentally because all that means increased usage, more revenue, and high staking rewards. Despite the bear market, it would likely be a good idea to follow news on Reserve Protocol for possible profit opportunities. 

In our Trade Letter we go more into depth by looking at the charts too! Our TA team takes a look at the 1D timeframe and 1H!

Next to this, we discussed topics like inflation, $EUR/$USD, the energy crisis in Europe, and the CPI announcement. All in the same Trade Letter!

Sign up for the free trial and get the next 3 Trade Letters for free!

https://get.eightglobal.com/1-week-free-trade-letter/



Previous Post

It's time to share

Consultancy

We have created several packages and programs for our clients to enroll in and receive personal guidance on their crypto investments.

Discover more