RSR currently offers people in hyper-inflated nation the chance to

Question

RSR currently offers people in hyper-inflated nation the chance to

use a stable coin rather than a deflating native currency.

In Venezuela, for example, inflation runs at ~4,000% a year, meaning if you earned or saved $10,000 last year, it might be worth a couple of hundred bucks this year. Awful, right?

Reserve's secret sauce is doing this easily for non-crypto people: an app designed that your mum can use happily, with easy "on and off fiat ramps" for getting your money (Bolivars, in this case) into Reserve. And having full compliance and customer services to make this easy.

Over this year, their users have grown (through invite only) to 100,000 users using it weekly, and 5,000 merchants accepting it. Since September, invites are no longer needed to join.

They are in a few other countries, and plan to open in Mexico soon.

And (in brief) RSR holders capture a % of the ecosystem, by stabilising the stable currency via staking.

#cryptocurrency #english #reserve

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22.10.2021