So let me get this right RSV is the stable coin RSR

Question

So let me get this right RSV is the stable coin RSR

is the volatility edge
And RSX is what u get when u stake RSR
But how much is 1 RSX? Always 1 RSV? And u need to convert it when u wanna sell?

#cryptocurrency #english #reserve

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30.01.2022

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Sinatra · Accepted Answer

Not quite right yet. RSV is the USD stablecoin that gets currently gets used in the Reserve app (although off-chain). It is backed by USDC, USDP & TUSD. People in the countries where Reserve is active pay their daily expenses with that. RSX is just a placeholder name for a new stablecoin that will be released on mainnet launch. It will stay stable in relation to the USD, but will also generate yield for its holders (~1-7% APY) just by holding it in your wallet (no staking or lockups required). This is possible due to it being backed by DeFi-yield bearing tokens (cUSDC, aDAI, aBUSD, etc). This new token will be offered to Reserve app customers as the "savings account" and will also be offered to the general crypto world as a stablecoin with DeFi-yield baked in. RSR is the (a) governance token and (b) can be used to insure any stablecoins that get created on the Reserve Protocol. In short, RSR holders can stake their RSR to receive a portion of the yield that tokens like RSX generate. In the case that any of the collateral tokens of "RSX" default (through a hack of the DeFi protocol for example), the staked RSR will be used pro-rate to pay for replacing the "bad collateral" with new, better collateral. Let me know if you have any questions about all of this.

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So let me get this right RSV is the stable coin RSR

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