Reserve Protocol is a decentralized platform on the Ethereum blockchain that runs with two long-term goals:
- Access to century-long stable currency
- An adequately decentralized and fair governance system
With these objectives in mind, the protocol aims to minimize the effects of hyperinflation and currency devaluation with the elimination of centralized regulation, which is usually blamed for unprogressive and oftentimes unproductive economic policies.
Reserve Protocol was created by Nevin Freeman and Matt Elder, a seasoned entrepreneur and engineer respectively, in 2019.
Anybody can create their own stablecoins, known as RTokens, on the Reserve Protocol and these stablecoins must be backed by ERC20 tokens. RTokens can be minted by anyone as long as they deposit the backing basket of assets into the protocol.
These stablecoins have insurance provided by Reserve Rights (RSR) holders and revenues from RTokens are incentives for insurance.
It's also worth noting that each RToken has its own governance system for RSR stakers. Governance of an RToken gets to decide its backing assets and emergency collaterals.
RSR is an ERC20 token. Holders of RSR can participate in the insurance and governance of RTokens. The total supply of RSR is 100 billion. The circulating supply of RSR is 42.03 billion.
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