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Reserve
About Reserve
Reserve is a stablecoin consisting of two ERC-20 tokens, the Reserve token and the Reserve Rights token, both of which are mintable and burnable. The Reserve Manager manipulates the supply to keep the price stable at $1, buying and burning tokens if necessary. The company is preparing for a self-custody version of their app by forking the RSV contract and adding meta transaction support and a Reserve Relayer, enabling on-chain RSV payments without the need for ether.
Reserve (RSV) is a stablecoin designed to maintain a 1:1 peg with the US dollar. It is an ERC-20 token on the Ethereum blockchain, functioning as a stable medium of exchange and store of value, particularly in regions experiencing economic instability. RSV is fully backed by a basket of collateral assets, ensuring its stability and reliability.
RSV is utilized for various purposes, including:
- Stable Transactions: Provides a stable currency for transactions, protecting users from the volatility associated with other cryptocurrencies.
- Savings Protection: Enables users in high-inflation regions to preserve their savings by converting volatile local currencies into a stable digital asset.
- Decentralized Finance (DeFi) Applications: Serves as a stable asset within the DeFi ecosystem, facilitating lending, borrowing, and trading activities.
In July 2020, the RSV contract was upgraded to support meta-transactions, allowing users to make on-chain RSV payments without requiring Ether (ETH) for gas fees. This enhancement aimed to improve user experience by enabling gasless transactions through the use of relayers.