What is Reserve Rights Token?
Reserve Rights, created by Matt Elder and Nevin Freeman, is a dual coin stablecoin. On the coin-trading marketplaces, the first coin is known as the Reserve stablecoin, or RSV, and is supported by assets managed by smart-contracts. The other is known as the RSR (Reserve Rights Token.) The function of the Reserve Right token RSR is to maintain the stability of RSV at $1.00 via a collection of arbitrage opportunities. Though its function is to maintain the stability of RSV, the Reserve Rights token RSR is volatile.
The Reserve Rights development team plans to eventually move the crypto away from the US dollar's backing and towards a more diverse basket of assets to back their dual coins. The idea is that RSV tokens will represent fractional ownership of the entire collateral pool of Reserve Rights assets.
How does Reserve Rights (RSR) Work?
Most stablecoins are backed by US dollars, held in reserve to ensure the stability of their price. Reserve Rights stablecoins are backed by a diverse basket of cryptocurrencies supported by smart contracts, making them unique in the stablecoin crypto market.
The asset basket consists of various Ethereum stablecoin cryptos, with plans to become more diverse in later stages of the project, including fiat currencies, securities, commodities, etc.
To maintain a stable level at the $1 US Dollar peg, RSR is minted and sold whenever the RSV loses its $1 value. When the value rises about $1, this additional currency is used to buy and burn RSR, driving down the supply and returning RSV to its $1 peg.
The main drive for investors to become RSR holders is the profit made when RSV is valued over $1.00. They buy RSV using RSR, then sell it at market price to gain the difference as a tidy profit.
What are Reserve Rights Token Frequenty Asked Questions?
Where does Reserve Rights Token (RSR) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Reserve Rights Token currently ranks in position 99 out of the thousands of cryptocurrencies. It is also important to consider Reserve Rights Token‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Reserve Rights Token has a market cap of $ 519,531,718, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 873,150,612,783, Litecoin at $ 11,499,341,497, Ethereum at $ 170,965,507,565, Tether at $ 36,309,551,516, and XRP at $ 21,075,191,061.
What is the price of Reserve Rights Token (RSR) today (updated in realtime)?
The current price of Reserve Rights Token is $ 0.055289 in USD. (The price in Euros is 0,045748 €; and the price in Bitcoin is Ƀ 0.00000100 BTC.)
What is Reserve Rights Token‘s (RSR) market supply?
The total available supply of Reserve Rights Token is 9,347,804,000 RSR. The total supply of Reserve Rights Token is 100,000,000,000 RSR.
What is the 24 hour volume for Reserve Rights Token (RSR)?
The 24 hour volume for Reserve Rights Token is $ 218,198,747.
How has Reserve Rights Token (RSR) performed recently?
Reserve Rights Token‘s price has decreased in the last 24 hours by -11.72%. This compares with a seven day change of 33.58%. The trading volume over the last 24 hours was $ 218,198,747. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Reserve Rights Token (RSR) official website?
Links to Reserve Rights Token‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Reserve Rights Token (RSR) performed well historically?
Here is a chart showing how Reserve Rights Token has performed historically.
Where Can I Buy Reserve Rights Token (RSR)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
Reserve Rights Token News
- A dark horse in the Ethereum scaling wars? Chainlink’s oracles find fertile ground on xDaiCointelegraph.com News - 8 hours agoChainlink is rolling out support for xDai, a layer-two sidechain whose perceived centralization hasn’t stopped major DApp players. Chainlink (LINK) oracles have made their way…
- Binance Smart Chain 'copykat' project loses $31 million in possible rugpullCointelegraph.com News - 8 hours agoUsers now need to ask: how many more protocols are at risk? At roughly 9 am UTC today Meerkat, a decentralized finance (DeFi) protocol on…
- Unslashed Finance raises $2M for crypto insurance platformCointelegraph.com News - 10 hours agoInvestors include Lemniscap, P2P capital and others. Unslashed Finance has sold $400 million in coverage since its private launch last month. Unslashed Finance, a decentralized…
- BitGo receives trust license from New York regulatorsCointelegraph.com News - 10 hours agoGoldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state. Major American digital asset…
- Where does the future of DeFi belong: Ethereum or Bitcoin? Experts answerCointelegraph.com News - 11 hours agoHere’s what decentralized finance experts think about either Ethereum or Bitcoin as the future of DeFi. Decentralized finance is one of the most promising and…