Reserve Rights

What is Reserve Rights (RSR)

Reserve Rights (RSR) is an ERC-20 token with two primary functions within the Reserve Protocol: providing insurance for Reserve stablecoins (RTokens) via staking and overseeing them through the proposal and voting process for alterations to their settings. RSR was introduced in May 2019, following a triumphant initial exchange offering (IEO) on the Huobi Prime platform.

RSR crypto has several use cases besides being the governance token for Reserve stablecoins. RSR serves as a backstop to make Reserve stablecoin holders whole in the event of a collateral token default. RSR holders can decide to stake on any one RToken or divide their RSR tokens by staking on multiple RTokens. As compensation for offering this insurance, those who stake RSR obtain a share of the income generated by the RToken they chose to protect. The larger the market capitalization of the RToken, the greater the potential returns (APYs) for RSR stakers.

Unlike other projects, Reserve's staking is built to last, and late participants do not pay for early participants. For more detailed information on RSR staking, the RSR staking section on the protocol documentation provides further information.

If you would like to know where to buy RSR coin, the exchanges that list the RSR price are Binance, Bitrue, Bybit, CoinW and OKX.

Who are the founders of Reserve Rights?

Reserve was established by Nevin Freeman and Matt Elder as a collaborative effort. Freeman, the CEO of Reserve, is a seasoned entrepreneur whose life mission revolves around addressing the coordination challenges that hinder humanity from realizing its full potential. Elder, on the other hand, is a skilled engineer with prior experience at Google and Quixey.

In his current role as the project's CTO, he oversees the development and implementation of the Reserve protocol. Since its inception in 2019, the Reserve team has expanded significantly, now boasting over 200 members. This diverse group includes engineers, developers, and legal and compliance professionals, all working together to ensure Reserve becomes a widely accessible, highly scalable stablecoin platform that fosters economic growth and well-being.

What makes Reserve Rights Unique?

Reserve was established by co-founders Nevin Freeman and Matt Elder. Freeman, the CEO of Reserve, is a seasoned entrepreneur dedicated to addressing the coordination challenges that hinder humanity from reaching its full potential. Elder, an accomplished engineer with prior experience at Google and Quixey, serves as the CTO of the project, supervising the development of the Reserve protocol.

Since its inception in 2019, the Reserve team has expanded significantly, now comprising over 200 members such as engineers, developers, and legal and compliance professionals. Together, they strive to establish Reserve as an accessible, highly scalable stablecoin platform that fosters economic growth and well-being.

Reserve Rights Pros and Cons

Pros:

• Offers a unique insurance system through staking for Reserve stablecoins.
• The bigger the market cap of the RToken, the higher the returns RSR stakers can expect.
• Backed by a bundled group of cryptocurrencies managed by smart contracts.

Cons:

• No guarantees of returns for RSR stakers
• Hidden Owner found 
• The contract is a Honey Pot 
• Mint function found 
• Trading can be paused
• One of its contracts is not open source.

Reserve Rights Review

Reserve Rights seems to be an interesting project that offers unique features to the stablecoin ecosystem.

However, it should be noted that our security review revealed that the contract seems to be a honeypot which is a critical risk. Cointelegraph has a great article explaining it all in detail here if you want to learn more. It's also worth mentioning that one of their contracts is not open source which is also a critical risk.

We've also found a hidden owner on one of the contracts which means that the owner can make changes even after surrendering control. Mint functions and trade-pause functions on multiple contracts are also detected in the project, all of these being potential security risks for investors.

Is Reserve Rights a scam?

No, Reserve Rights doesn't seem to be a scam. The project seems to provide genuine value and utility to the space. But as with any investment in any blockchain endeavour, prudence is essential.

This is why everyone in the crypto space emphasizes that It's important to do your own research DYOR to prevent you, the individual, from taking risks you're not comfortable with. The crypto sphere is rife with scams, so staying informed is your best defence against malicious players and fraudulent schemes.

Related Pages

Given your interest in this piece, you may also want to delve into SKALE, a project that wants to address Ethereum's scalability problem.

Do also check out our deep dive on Keep Network, a platform designed to store and encrypt private data on the public blockchain.

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