The Reserve Rights Stable Coin Cryptocurrency has been in my radar for sometime now, but I never actually researched the project. I first heard of Reserve Rights during a YouTube presentation by Crypto Chico . Crypto Chico can be quite controversial at times, but you can not deny his knowledge and ability to find hidden gems. The Reserve Rights Stable Coin Cryptocurrency just may be that sleeping giant that we all have been searching for with dreams of Lamborghini's just on the horizon.
If you follow cryptocurrency or blockchain technology, you know that stable coins are scattered across the industry with some being much more accountable than others. I am not going to name the various projects in fear that I may offend some of you, but there are some questionable stable coins out there that many believe will hurt the cryptocurrency revolution. These coins that name will not be spoken have a tendency to print/ create currency out of thin air not much different that the United States Federal Reserve.
The Reserve Protocol has three pre-planned phases before becoming an independent entity in the blockchain sphere. The first phase is the centralized phase where the Reserve will be backed by tokenized US Dollar collateral tokens. The second phase is the decentralized phase, which will be a selection of assets that stabilize in relation to US dollar, but in a decentralized fashion. The third phase is the most critical phase. During this phase, the Reserve will no longer be associated with the US Dollar and it will establish its own purchasing power.
In a nutshell, this is how the protocol is supposed to work. If the RSV token goes above $1 in value, the protocol will sell newly minted RSR or other tokenized assets in order to push the value of the RVR down to 1$. When the value of the RSV falls below $1, the protocol will then purchase tokenized assets bringing the value of the RSV back up to a $1. If and when the vault accumulates excess RSV through appreciation or transaction fees, RSR tokens token holders can purchase this which will in turn stabilize the $1 value of the RSV.
I know this all sounds a bit confusing, but the Reserve.org website has an excellent page dedicated to explaining exactly how the protocol is supposed to to work. I suggest that you head over to their official website when done reading this blog for a more detailed explanation about how this protocol is supposed to work.
While researching the Reserve Rights Stable Coin Cryptocurrency, I noticed quite a bit of underlying activity that has not exactly caught the attention of the crypto community. This cryptocurrency as been lurking in the background for quite a while now, but after reviewing recent twitter postings from The Reserve , they appear to picking up moment.
I remember searching for exchanges that carried this cryptocurrency when I first heard of it and could only find it on a few questionable exchanges with ridiculous transaction fees. Now RSR is available on exchanges and Dex like Kyber Network, Huobi Global, Idex, and more.
The Reserve Rights Stable Coin Cryptocurrency project is also backed by some big names like Coinbase Ventures, Peter Thiel, Sam Altman and more. A complete list of influential investors can be found on the Reserve.org website under investors. I was super excited when I saw Coinbase Ventures, but then I remembered that they also backed Matic. If you haven't dealt with this project, I suggest you don't. They have a history of pump and dumps even though the technology they were offering seemed to be legit.
We all have had dreams of getting in on the ground floor with a cryptocurrency project and becoming wealthier than our wildest dreams. I believe that there is a possibility that Reserve Rights Stable Coin Cryptocurrency just might be one to make these outlandish dreams come true. But without adoption, they will will just disappear like so many projects have done in the past.
Please remember that I am just another guy out there in the internet with a passion for cryptocurrency and investing. I am not a financial advisor and I suggest that you do your own research before making any financial decisions. Good luck in making your investing dreams come true.