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Reserve Rights (RSR) is an ERC-20 token that will serve two main purposes for the Reserve Protocol: insuring Reserve stablecoins (RTokens) through staking and governing them through proposing & voting on changes to their configuration.

The Reserve Rights (RSR) token was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform.

What Makes Reserve Rights Different?

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.

These baskets can consist of any ERC-20 assets. Initial Reserve stablecoins (RTokens) will include a USD-denominated stablecoin backed by other stablecoins such as USD Coin (USDC, True USD (TUSD) and Paxos Dollar (USDP), and also a stablecoin backed by DeFi-yield bearing assets such as Compound USD Coin (cUSDC) and Aave Dai (aDAI) – which will offer holders of this stablecoin passive DeFi-yields without the need for staking or locking up their tokens.

Eventually, the Reserve community will transaction to more diverse baskets, which might include fiat currencies, securities, commodities and complex asset types, like synthetics and derivatives.

What Is the Purpose of Reserve Rights (RSR)?

Besides being the governance token for Reserve stablecoins (RTokens), by which changes to RTokens can be proposed & voted for with RSR, Reserve Rights exists as a backstop to make Reserve stablecoin (RToken) holders whole in the unlikely event of a collateral token default. In order for RSR holders to provide this insurance, they can decide to stake on any one RToken, or divide their RSR tokens by staking on multiple RTokens. RSR holders can also decide not to stake their RSR at all.

In return for providing this insurance, RSR stakers can expect to receive a portion of the revenue the RToken they decided to insure makes. As a general rule, RSR stakers can expect higher returns (APYs) the bigger the market cap of the RToken they insure becomes.

In contrast with the “staking” you see in a lot of other projects these days, RSR staking is built to last. In Reserve’s model, late participants do not pay for early participants, nor is a trust in staking of other parties required.

Whitepaper

Official Website