Reserve Rights (RSR) builds momentum ahead of its long-awaited mainnet launch
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Steady growth in its active users, the stability of the RSV stablecoin and investors’ anticipation over the upcoming mainnet launch could boost RSR price in the short-term.
Bitcoin was created to give the average person a peer-to-peer economic system and a store of wealth asset that could provide financial autonomy and access to banking, especially for people living in places where financial services are sparse or non-existent.
In the last five years, there have been a number of blockchain projects that aim to mirror Bitcoin's original mission and the growing popularity of stablecoins further highlights the need for alternative financial models. One project that is beginning to see a bit of momentum is Reserve Rights (RSR), a dual-token stablecoin platform comprised of the asset-backed Reserve Stablecoin (RSV) and the RSR token which helps to keep the price of RSV stable through a system of arbitrage opportunities.
The biggest upcoming development for Reserve Rights that has its community excited is its August launch its mainnet.
Following the launch of Reserve Rights on the Ethereum (ETH) mainnet, the full capabilities of the protocol will be enabled including the ability for anyone to create stablecoins backed by baskets of ERC-20 tokens.
Along with being fully collateralized, stablecoins on the protocol (RTokens )can be insured as a way to help protect against collateral devaluation. RTokens are also able to generate revenue for their holders, which is the incentive for RSR holders to stake their RSR on a specific RToken.
Revenue for token holders comes from transaction fees, revenue shares with collateral token issuers and the yields from lending collateral tokens on-chain.
RSR staking
RSR's mainnet launch will also activate token staking. For most staking protocols that exist today, the main function is to lock tokens in a smart contract which prevents a holder from selling, but it doesn’t really have any additional function for the ecosystem.
Once the full Reserve Protocol has launched on Ethereum mainnet, Reserve Rights (RSR) holders will be able to stake their tokens, thereby insuring & governing the network
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