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RSRUSD: buy setupCMC # 102 "What Is Reserve Rights (RSR)? Reserve Rights is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform. Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV) — which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities. Unlike RSV, the Reserve Rights (RSR) token is volatile, and its main purpose is to help maintain the stability of RSV. It can also be used to vote on governance proposals — helping holders shape the future of the Reserve Rights ecosystem. In the later stages of the project, Reserve Rights plans to back the Reserve stablecoin by an increasingly diverse basket of assets, and eventually move it away from the U.S. dollar peg — instead creating an alternative reserve asset where RSV tokens instead represent fractional ownership of the collateral pool. Who Are the Founders of Reserve Rights? Reserve Rights was co-founded by Nevin Freeman and Matt Elder. Freeman is Reserve's CEO and a seasoned entrepreneur. He describes his life goal as "solving the coordination problems that are stopping humanity from achieving its potential." Matt Elder, on the other hand, is an experienced engineer who previously worked for Google and Quixey, and now works to oversee the architecture of the Reserve protocol implementation as the project’s CTO. Since its launch in 2019, the Reserve team has grown considerably, and now includes more than two dozen individuals, which includes engineers, developers, and legal and compliance staff — all unified under the shared ambition to position Reserve as an open, massively scalable stablecoin that promotes economic prosperity. What Makes Reserve Rights Unique? Unlike other stablecoins that are typically backed by U.S. dollars (USD) held in reserve in a bank account controlled by the stablecoin issuer or a trusted custodian, Reserve stablecoins are backed by a basket of cryptocurrencies managed by smart contracts. This basket initially consists of Ethereum stablecoin assets, including USD Coin (USDC), True USD (TUSD) and Paxos (PAX), but there are plans to later transition to a more diverse basket, which might eventually include fiat currencies, securities, commodities and complex asset types, like synthetics and derivatives. Arguably Reserve's major defining feature is its Reserve Rights token, which is minted and sold when the RSV stablecoin loses its peg with the U.S. dollar. The funds generated by selling RSR tokens are used to replenish the RSV collateral pool, whereas when RSV is valued at above $1, the additional collateral will be used to purchase and burn RSR from the secondary market, driving down the supply. Arbitrageurs can benefit from this mechanism when RSV is valued at above $1.00, by buying RSV at $1.00 from the Reserve smart contract using RSR, and then selling it at the current market price to net the difference as profit. This option is only available to RSR holders, and is currently one of the main drivers for holding RSR tokens. How Many Reserve Rights (RSR) Coins Are There in Circulation? Reserve Rights has a fixed supply of 100 billion tokens. Out of this, less than 10% are currently in circulation as of October 2020. The maximum token supply has already been pre-mined, but a large proportion is locked for various reasons, including 55.75% of the supply locked in a smart contract known as the "slow wallet.” Funds from this wallet are released following a one-month delay with a public on-chain message from the Reserve team explaining the purpose of the withdrawal. Although RSR has a fixed supply of 100 billion tokens while on Ethereum, the Reserve team has stated that this maximum supply might change once Reserve moves to its mainnet — an event currently slated to occur in 2020. The Reserve Rights token initially launched with a circulating supply of 6.85 billion tokens, of which 3% were distributed to Huobi Prime IEO participants, 2.85% released as project tokens and 1% to private investors. All team, advisor, partner, and seed investor tokens will remain locked until after the mainnet is launched. How Is the Reserve Rights Network Secured? Reserve Rights is currently an ERC-20 token based on the Ethereum blockchain. As a result, it is secured against attacks by a robust proof-of-work (POW) consensus mechanism backed by a network of thousands of Ethereum miners. Reserve Rights is scheduled to migrate to its mainnet in 2020. As of October 2020, Reserve has not yet announced which consensus mechanism the new blockchain will use to secure the network."
RLong
by sequentialvision
Reserve Rights RSR Prepare For SellOffThe crypto market is living its last bubble days. The prices do not reflect any fundamentals. Cryptos are pure retail investments gambling at this point. AAVE Fully Diluted Market Cap $5,476,626,682 vs Biggest German Bank, Deutsche Bank 23.864B Market Cap Moderna - saves the world from Covid-19 - 69.146B Market Cap Ebay - Market Cap 42.174B FORD - 42.174B MARKET CAP When you buy stocks of a company you own a part of it, you have the right to vote changes in the company and you receive dividends. When you buy crypto you own nothing! You buy thinking that at some point another person will be willing to pay more than you on that piece of nothing. If you want to own the BUY and SELL indicator in the chart, that can prevent you from the big crypto selloff, just leave me a message for a 7 day trial.
Short
by BuySellMarketMaker
5
We are reconsidering our RSR positionWarning: our thoughts are ours; not financial advice. We are still very bullish on Reserve , but with activities of the past few days, we are reconsidering our position as stated in our last analysis (analysis attached below). We recently sighted a bullish reversal pattern, therefore, we won't be adding anymore position at this price as we do not consider it cheap enough for our strategy. However, our new short-term target has been raised to $0.087.
Long
by coin-barbie
🔥 RSR Bullish Wedge Break OutAfter a strong run up early 2021, RSR has been seeing some consolidation. In the last two days RSR has shot up again and is starting a new bullish trend upward. Today marked the day that it pierced through the wedge pattern, signaling a new parabolic move upward. On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on round numbers, $0.07 and $0.09 respectively. Do your own due diligence. Happy trading!
Long
by FieryTrading
16
RSR - bullish symmetrical triangle?To keep myself accountable and keep practicing my TA I'll be charting the top 100 crypto's by marketcap over the coming fews days. Any feedback and tips are welcome. Trend = Bullish, but consolidating (LH, but HL) Notes: - Forming symmetrical triangle on the 1H/4H - D1/W1 support holding nicely - Symm triangle breakout could coincide with breaking W1 resistance Ideas: - If symm triangle breaks up and we break the W1 resistance I'm expecting continuation to the upside Daily resistance above the weekly should pose no issue in that case
Long
by Sidders