00:00Welcome to Decentralized News. In today's short video I just want to talk about Reserve Rights
00:04which is a project that has a token with the ticker RSR. You can find it available on Binance,
00:10OKEx, BitGit and other exchanges including CoinTiger. You can check out the full reviews
00:15to these exchanges on our main site Decentralized.News. So Reserve Rights is an ERC20 token
00:21that will serve two main purposes for the Reserve Protocol which is ensuring Reserve Stable Coins
00:26which are R tokens through staking governance, governing them through proposing and voting
00:31on changes to the configuration. The Reserve Rights token was launched back in 2019 following a
00:36successful IEO on the Wabi Prime platform. So what is this used for besides the governance token,
00:44the rights or the Reserve Stable Coins R tokens by which changes to R tokens can be proposed
00:51and voted for with RSR. Reserve Rights exist as a backstop to make Reserve Stable Coin. Holders
01:00sort of protect them against an unlikely event of let's say collateral token default. So in order
01:11for RSR holders to provide this insurance they can decide to stake on any one R token or divide the
01:18RSR tokens by staking on multiple R tokens. So RSR holders can also decide not to stake their RSR at
01:26all. So in return for providing this insurance, RSR stakers can expect to receive a portion of the
01:32revenue of the R token they decided to ensure. And as a general rule, RSR stakers can expect higher
01:40returns. The bigger the market cap of the R token they ensure becomes. So in contrast with the staking,
01:47you see a lot of other projects these days, RSR staking is built to pretty much for the long haul in
01:54the model. Late participants do not pay for any participants nor is the trust in staking or other
02:02parties required. So it was actually founded by Nevin Freeman and Matt Elder. So Freeman is the CEO and
02:11is a sort of an entrepreneur. And Elder on the other hand is an engineer who worked for Google
02:19for some time and he's the CTO. And these guys, it's quite interesting. So you know, because they
02:26say that what makes the value proposition unique is the fact that unlike other stable coins typically
02:30backed by US dollars held in reserve and controlled by stablecoin issuers or trusted custodian, our reserve
02:37stablecoins are backed by a basket of cryptocurrencies managed by a smart contract. These can consist of
02:43ERC20 tokens. Initial reserve stablecoins are tokens which include US denominated stablecoins
02:50backed by other stablecoins such as USDC, USDT, true USDT, PAXUSD, and also a stablecoin backed by
02:58DeFi yield bearing assets such as a compound USD coin and AVE DAI which will offer holders of this stablecoin
03:07passive DeFi yields without the need of staking or locking up their tokens and eventually the reserve
03:11community will be able to be more diverse in the offering of baskets which include the fiat currencies,
03:23securities, commodities and other complex commodities, synthetics and derivatives for the long haul. So
03:31yeah, it's quite an interesting project. I've seen this one for a long time but I just really couldn't
03:38get a good grasp of what they're trying to do. But obviously it's an ERC20 token. It's sort of based on
03:47that proof of work system that Ethereum is on. Still, you can trade it on Binance or RBI or KX.
03:52It's got major listings and it's got some popular pairs as well. BTC, Tether, Ethereum etc. on a lot of these
03:59platforms. So yeah, let me know guys if you are, you know, a holder of our RSR and reserve rights token.
04:06I know they did migrate to a new contract but it's an ERC20 and let me know what you guys think. If it's
04:14a project that you think has got potential for the long term and don't forget to check our links in
04:18the description to my books, Tokenized Trillions, Blockchain Applied. Like, share, subscribe, turn on
04:22that notification bell, man. I'll see you in the next video. Peace.
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