Reserve Rights is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering ( IEO ) on the Huobi Prime platform.
Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin ( RSV ) — which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities.
Unlike RSV , the Reserve Rights (RSR) token is volatile, and its main purpose is to help maintain the stability of RSV . It can also be used to vote on governance proposals — helping holders shape the future of the Reserve Rights ecosystem.
In the later stages of the project, Reserve Rights plans to back the Reserve stablecoin by an increasingly diverse basket of assets, and eventually move it away from the U.S. dollar peg — instead creating an alternative reserve asset where RSV tokens instead represent fractional ownership of the collateral pool.
Here we have the full Reserve Rights ( RSRBTC ) chart.
- We have the support levels marked, below the support price.
- We have the resistance levels marked, above the current price.
If you scroll the chart up, you can find additional targets.
This is very likely to grow.