IMPORTANT:

Huobi Global will launch our third Prime Trading Project: Reserve Protocol on May 22, 2019 (GMT+8). More details: https://huobiglobal.zendesk.com/hc/en-us/articles/360000266501

Reserve (RSR) Stablecoin - ICO Review, Rating and Details of Reserve ICO (Token Sale) - Rating: Gamble

Reserve is a stable, global currency (a stablecoin) and a digital payment system for people and businesses in countries with high inflation.

  • Protect Your Money: Reserve enables people and businesses in countries with high inflation to protect their money by moving it out of broken currencies into a stable digital currency.
  • Send Money Across Borders: Reserve makes it cost-effective to send money across borders. This enables people to send money home to their families, and businesses to pay international suppliers in a stable currency.
  • Easily Accept Payments: Reserve allows businesses to accept payments in a stable digital currency, enabling them to easily pay their international suppliers, while also keeping their money out of inflation-prone local currency.

Problems & Solutions

Cryptocurrency started as a technical discussion on a mailing list, grew into a small movement, attracted hordes of speculators, and then splintered into a zillion useless imitations of itself. We believe it’s destined to consolidate and eventually give way to a battle for power on the global stage. We foresee uncomfortable disruption, a real threat of catastrophe, and a real promise of increased prosperity. Let us try to explain why.

  • Money is broken in some parts of the world – corrupt governments have a hard time maintaining stable value in their currencies.
  • Cryptocurrency is attempting to solve this problem, with many projects working on centralized coins that are pegged to the US dollar.
  • The future dominant cryptocurrency will be a decentralized, dollar-independent stablecoin, and it will change the economic situation in many countries around the world.

Features & Highlights

  • A peg is required
  • Foreign collateral is required
  • Peg to fiat in the short-term, and a basket of assets in the long-term
  • 100% backing is required
  • Tokenized real-world assets are probably necessary, at least right now
  • Multiple dispersed token issuers substantially reduces risk of total default
  • The Reserve Protocol can be implemented on top of any smart contract platform. It could be operated on its own chain, but it benefits from locating itself where collateral tokens are most liquid. Initially we are developing on the Ethereum Network but ultimately we expect two-way bridges to enable complete interoperability
    of the Reserve token across all major smart contract platforms.
  • The initial production version of the Reserve Protocol will be substantially centralized, and over time each protocol component will be migrated on-chain andreleased from control by the founding team
  • The Reserve token will initially have a target value of US $1.00, but is designed to go off of the peg to the US dollar in the long term

Token Allocation

"Public Sale","Private Sale","Seed Sale","Team & Advisors","Strategic Partners","Foundation" {"name": "Public Sale","value": 3},{"name": "Private Sale","value": 1},{"name": "Seed Sale","value": 12.4},{"name": "Team & Advisors","value": 20},{"name": "Strategic Partners","value": 5},{"name": "Foundation","value": 58.6}

Token Release Schedule

"May 2019", "Jun 2019", "Jul 2019", "Aug 2019", "Sep 2019", "Oct 2019", "Nov 2019", "Dec 2019", "Jan 2020", "Feb 2020", "Mar 2020", "Apr 2020", "May 2020", "Jun 2020", "Jul 2020", "Aug 2020", "Sep 2020", "Oct 2020", "Nov 2020", "Dec 2020" {"name": "Public Sale", "icon": "roundRect"},{"name": "Private Sale", "icon": "roundRect"},{"name": "Foundation", "icon": "roundRect"} {"data": [3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00, 3.00],"name": "Public Sale", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [0.25, 0.50, 0.75, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00, 1.00],"name": "Private Sale", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}},{"data": [2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85, 2.85],"name": "Foundation", "symbol": "circle", "type": "line", "stack": "Save", "areaStyle": {}}

Token Allocation & Release Note

  • Public Sale: 3% of total supply
    • Public Sale: No lockup
  • Private Sale: 1% of total supply
  • Seed Sale: 12.4% of total supply
  • Team & Advisors: 20% of total supply
    • Team & Advisors: Locked until mainnet launch (anticipated in 2020), then released over six months.
  • Strategic Partners: 5% of total supply
    • Strategic Partners: Locked until mainnet launch (anticipated in 2020), then released over six months.
  • Foundation: 58.6% of total supply
    • Foundation: Foundation tokens are held by the project, locked. They are stored in a smart contract referred to as the "slow wallet." Slow wallet tokens are locked, and can only be withdrawn with a one-month delay, visible on-chain, including a message from the team explaining the reason for the withdrawal. We designed this mechanism to give the project the ability to release tokens for fundraising and other purposes in the future if needed, while allowing the community time to learn about any further releases well before any new tokens enter circulation. The slow wallet is deployed here: https://etherscan.io/address/0x4903dc97816f99410e8dfff51149fa4c3cdad1b8

Token Utility & Use Cases

The Reserve Protocol interacts with three kinds of tokens:

  • The Reserve token: a stable cryptocurrency that can be held and spent the way we use US dollars and other stable fiat money.
  • The Reserve Rights token: a cryptocurrency used to facilitate the stability of the Reserve token.
  • Collateral tokens: other assets that are held by the Reserve smart contract in order to back the value of the Reserve token, similar to when the US government used to back the US dollar with gold. The protocol is designed to hold collateral tokens worth at least 100% of the value of all Reserve tokens. Many of the collateral tokens will be tokenized real-world assets such as tokenized bonds, property, and commodities. The portfolio will start off relatively simple and diversify over time as more asset classes are tokenized.

Team Members

  • Nevin Freeman, Co-founder & CEO, Nevin oversees strategy, legal, and team coordination at Reserve. Nevin is an entrepreneur who has co-founded three companies. His mission in life is to solve the coordination problems that are stopping humanity from achieving its potential, and he's particularly concerned about averting the long-term risks posed by the development of artificial intelligence.

  • Matt Elder, Co-founder & CTO, Matt is designing, analyzing and overseeing the Reserve Stabilization Protocol and architecting the Reserve protocol implementation. Previously, he did engineering for Google, Quixey, and the Linux Standard Base(IBM); his graduate research at the University of Wisconsin-Madison was in program analysis.

  • Robb Henshaw, Advisor, Robb advises Reserve on marketing strategy, communications, content, and public engagement. Robb has 16 years of marketing experience for startups, resulting in four acquisitions (most recently Jasper, acquired by Cisco).

  • Jeremy Schlatter, Tech lead, Jeremy is building the Reserve protocol software, including its smart contracts, off-chain components, and testing infrastructure. Jeremy started his career as a software engineer at Google. Since then, he has worked at a number of Bay Area tech companies including Mailgun and OpenAI.

  • Daniel Colson, Lead protocol designer, Daniel is doing economic research for Reserve’s protocol development. Previously, he co-founded the Human Advancement Project, the Government and Politics Association and the Polybian Society, and was a sociology researcher at Paradigm Academy.

  • Miguel Morel, Co-founder, Miguel is overseeing the execution of Reserve’s operational strategies. Previously, he was an Entrepreneur-in-Residence at Paradigm Academy, working on a startup developing machine-learning SaaS tools for E-Commerce vendors and suppliers on fulfillment platforms such as Amazon, Alibaba and TaoBao.

  • Charlie Smith, Business development, Charlie is developing tactics and partnerships to get our protocol into the hands of users. Previously, he worked as a management consultant at ReD Associates, contributed to The Economist Magazine, and helped start a bitcoin mine in Texas.

  • Jesper Ostman, Protocol development, Jesper is designing the Reserve Stabilization protocol. He's also analyzing the stablecoin competitor landscape. He has spent 4 years researching methodology for the Institute for Philosophical Research, after doing a theoretical philosophy Phd at Umeå University.

  • Cathleen Kilgallen, Research and operations, Cathleen is managing Reserve’s finances and making sure the team is fully supported by effective admin and logistics. Previously, she was the COO at Leverage Research and Paradigm Academy. She has also performed various operational roles at the congressional office of former Rep. Dennis Kucinich, The Jane Goodall Institute, and Amnesty International.

  • Andrew Masanto, Marketing & strategy, Andrew Masanto is a serial entrepreneur, having founded Altitude Shoes (sold in 2012), Higher Click SEO Agency (sold in 2013), Altitude Ads (ongoing) and then Co-Founding Hadera Hashgraph in 2017. Andrew is an astute professional investor and is on the board of a billion dollar impact investing fund, Cornerstone Capital Inc.

  • Ojonimi Bako, Business development & product strategy, Previously OJ was Global Vice President of Innovation and Partnership at Shiseido Americas Corporation, Director CTO of Strategy and Operations at Walmart Labs, and a Consultant at Accenture. He has a B.S. in Industrial Systems Engineering from Ohio State University, and is an angel investor in early stage AI and E-Commerce companies.

  • Henry Fisher, Chief of staff, Henry works to boost Nevin’s capacity by managing all active projects and helping with strategic decisions, prioritization, and management of Nevin’s schedule. Previously, he worked in operations at Paradigm Academy and worked as an engineer at Tesla.

  • Mark Lee, Legal, Mark is doing legal research for Reserve. He has a J.D. from Harvard Law School and previously worked for a major law firm in NY in the global securities practice group.

  • Taylor Brent, Protocol development, Taylor is working on the design of the protocol. Previously he worked on analytical chemistry and bioinformatics infrastructure at Impossible Foods, and at Google doing data engineering.

  • Vasco Queirós, Public engagement, Vasco works to increase market awareness and adoption of the Reserve Protocol. Previously he was a researcher at Leverage Research.

  • Jeffrey Ladish, Security architecture, Jeffrey is analyzing and testing all parts of the Reserve system to identify and eliminate vulnerabilities. Previously, he did engineering for the Edurange Project and Concur.

  • Erika Campbell, Onsite operation, Erika is the point person of physical operations for Reserve. She previously managed operations for Leverage Research and Paradigm Academy. She also has several years of softball coaching experience at the Division I and Division II collegiate levels.

  • Andrew Lapinski-Barker, Head of recruiting, Andrew is bringing talented people onto the Reserve team to fill out the company’s vision. Previously, he was the COO of JCD Repair, office manager for MIRI, and strategy and ops consultant for EA Global.

  • Matt Gertler, General counsel, Matt is developing Reserve’s legal strategy. Previously Matt co-founded Digital Asset Research, and worked at Milbank, Promontory Financial Group, Earnest, and Venmo. He has a J.D./M.B.A. from USC and a B.A. in Economics and History from UCLA.

Partnership Overview

  • Coinbase Ventures, Coinbase is a digital currency exchange headquartered in San Francisco and originally incubated by YCombinator. Coinbase Ventures is an early stage venture fund, focused on investing in blockchain related companies.

  • Crypto Lotus is a cryptocurrency hedge fund based in the San Francisco bay area, founded by fellow members of the Effective Altruism movement who originally educated Nevin about bitcoin back in 2011.

  • Refactor is an early-stage venture capital firm that invests in founders solving fundamental human problems. They have invested in dozens of biotechnology and public health startups.

  • Distributed Global is an early fund in many respects. They were one of the first groups to enter crypto investing, one of the first funds to develop a stablecoin thesis, and they wrote the first check into Reserve.

  • PreAngel is an investment fund focused on early-stage internet startups, which has invested more than 300 million yuan in over 300 technology companies in the US and China.

  • Blocktower is a leading cryptoasset investment firm, which has raised over $140 million from lead investors Andreessen Horowitz and Union Square Ventures.

  • NGC is the strategic investment vehicle of the NEO foundation. It invests in inspiring projects related to blockchain and is a large institutional owner of cryptocurrencies.

  • Rocket Fuel is a group of strategic, value-added investors, including experts in business strategy, product, marketing, blockchain implementation, recruiting, and more.

  • GSR is a liquidity provider for complex digital assets. It was one of the first market-makers on Ripple’s Consensus Ledger and is integrated with several top digital asset exchanges.

  • Arrington XRP Capital, based in Seattle, Arrington XRP Capital was founded by Mike Arrington, founder of TechCrunch, serial entrepreneur Geoffrey Arone, and Heather Harde, founding TechCrunch CEO.

  • Digital Currency Group, based in New York, DCG is one of the most prolific blockchain groups in the world. Subsidiaries include Genesis: a trading firm; Grayscale: an authority on blockchain investing; and CoinDesk: a major blockchain news outlet.

  • Divergence Digital Currency fund is a multi-strategy crypto fund based in Los Angeles and San Francisco, founded by Adam Struck and Yida Gao of Struck Capital.

  • Fenbushi was the first China-based venture capital firm that exclusively invests in Blockchain-enabled companies. General partner Bo Shen co-founded Invictus Innovations, the team behind BitShares.

Additional Competitors

  • Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” According to their site, Tether converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies like the US dollar, the Euro, and the Yen.

  • TrueUSD is a USD-pegged stablecoin, that provides its users with regular attestations of escrowed balances, full collateral and legal protection against the misappropriation of the underlying USD. TrueUSD is issued by the TrustToken platform, the platform that has partnered with registered fiduciaries and banks that hold the funds backing the TrueUSD tokens. The USD funds are regularly verified in scheduled attestations, and kept in third party escrow accounts such that TrustToken has no direct access to the funds.

  • Paxos Standard (PAX) is a stablecoin that allows users to exchange US dollars for Paxos Standard Tokens to 'transact at the speed of the internet'. It aims to meld the stability of the dollar with blockchain technology. Paxos, the company behind PAX, has a charter from the New York State Department of Financial Services, which allows it to offer regulated services in the cryptoasset space.

  • Dai (DAI) is a USD-pegged stablecoin built on the Ethereum blockchain, and has no centralized authority. Its $1 USD equivalent is maintained through automatic pricing mechanisms built into smart contracts. When Dai is worth more than $1, the smart contract pricing mechanisms works to decrease the price. Conversely, when Dai is worth below $1, the smart contract pricing mechanisms works to increase the price. Dai can be freely traded like any other ERC20 token, and anyone with an Ethereum wallet can own, accept, and transfer it without a middleman.

  • USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open source project bootstrapped by contributions from Circle and Coinbase. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio. Issuers are required to report their USD reserve holdings frequently, and Grant Thornton LLP issues reports on those holdings every month.

Social Media Links

Twitter Updates

  • Thanks for the shout-out! 🇹🇷 🇷🇴 https://t.co/L166nd2OAO
  • How is Reserve thinking about the decentralized governance problem? Here are some of our thoughts on the topic! https://t.co/0lJI5UIH14
  • Curious what we've been up to? Check out the update to our roadmap for Q3! https://t.co/vdRC4xfeNM
  • Our take on Facebook's Libra, its worthy mission, and the potential pitfalls of its centralized approach https://t.co/5ZyPYnxfoX
  • @Crypto___Oracle @CKvack All of the above. We're starting as a solution for high-inflation economies, where the nee… https://t.co/6d9rKbykwh
  • Or adopt a price stable cryptocurrency free from government control. https://t.co/aGWVWYjAlY
  • Great thoughts from @AlexRuppertVC on the emergence of corporate backed coins. Reserve is committed to building a c… https://t.co/vwVxKawIZP
  • Reserve (RSV) will be run on a smart contract backed by a basket of tokenized assets from all over the globe. As o… https://t.co/L1b0us4kz8
  • Mandarin reading fans of Reserve! We recently did an interview with @ChainNewscom Check it out! https://t.co/jx2E9nXshj
  • Another update from our international ops team - crafts made of bolivars https://t.co/Q9SXFew2rX