Crypto Giggle
At Crypto Giggle we like to monitor as many coins as possible, generally spotlighting topical projects that are in the news for the right/wrong reasons, as well as the big ticket cryptocurrencies at the top of the “leaderboard”. One of the project’s we have been monitoring of late, that is just inside the top 100 marketcap is the Reserve Protocol.
“Reserve” for short, is a cryptocurrency that launched in 2019 and lists their mission as, building a stablecoin that can’t be shut down. A stablecoin like this could be used to fight inflation in countries that inflate their own currency.
Here’s a snack-bite sized article on why we think Reserve is a noble project worthy of the spotlight.
Contents
#1 The Reserve Protocol
If you frequent Reserve's socials you will see many mentions of changing the world. This particular tweet asking, "We will change the world. Are you coming with us?"
How can a stablecoin cryptocurrency have a positive impact on the world? And more importantly how does Reserve plan to change the world?
(From the Reserve website) You may not know that billions of people around the world do not have a safe place to store their money. Banks in some countries can't be trusted and some government inflate their own currency for a variety of reasons, few that are good for the citizens.
A stable coin that always represents $1 dollar worth of value, would allow citizens to store their value in RSV only off-ramping it when needing it, thus preserving their value in an inflationary environment. Doing this on the blockchain ensures that no entity can shut down this process.
#2 A Tale Of Two Coins. (RSV vs RSR)
The reserve consists of two tokens.
RSV - The hyper-inflation proof stablecoin, that is pegged to $1 USD worth of value.
RSR - The utility token used (along with other assets) to keep the RSV token stable.
These two tokens work in tandem to support the Reserve network. RSV will primarily be used by individuals looking to store value and not used for speculation, as where the RSR token is volatile and may be used by some for speculation.
You can read more about the two tokens at:
https://reserve.org/blog/rsv-vs-rsr-a-primer
#3 Reserve is growing
In Venezula, where the RSV app is currently focusing on, Reserve was the #1 app download in Q1 2021. Additionally, the Reserve team grew to 61 people and their are over 1100 merchants now accepting RSV natively.
Additionally, the Reserve website currently shows 15 openings and all of the requisitions mention that they will match offers from the big tech giants. They seem to be growing organically and seeing new adoption everyday.
#4 Reserve has some notable investors and advisors
On the Reserve.org team site, you will notice some notable investors and advisors to the project.
Some of the bigger names include Sam Altman who is an investor in Airbnb, Reddit and Pintrest to name a few, as well as Paul Atkins who was the sitting Commissioner of the Securities And Exchange Commission from 2002 to 2008.
The one that stands out the most to use is Peter Theil. If you don't know who Peter Thiel is, he is a co-founder of Paypal as well as one of the earliest investors in Facebook. Thiel has been bullish of crypto of late and has chosen to be a very early investor in Reserve.
#5 Reserve CEO Nevin Freeman
Reserve is a robust team of developers, compliance specialists, business developers and more. Their CEO and co-founder Nevin Freeman, is active on social media and very visible in his lectures on Yotube and AMAs on Telegram.
You get the sense that Nevin "gets it" and whether Reserve succeeds or not, Nevin seems to be a CEO that cares about people over profits.
This is one cryptocurrency we will be monitoring and continuing to report on.
We do not recommend buying Reserve, RSR or RSV. Investment advice is overrated, we write about stuff we think is cool.
See more at Reserve.org or by Youtube-ing "Reserve RSR"
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