The cryptocurrency asset class demands portfolio diversity. Sure, you could buy Bitcoin (CCC:BTC-USD) and hold it until the end of time and make money. But, those who are looking to truly invest in the furthering of blockchain technology are those actively managing their portfolios and looking for low buy-ins with high outlook. These hawkish investors are honing in today on a new play seen as the next big thing: Reserve Rights (CCC:RSR-USD). With the Reserve network preparing for a main network launch in the coming weeks, the Reserve Rights crypto is on the rise.
Reserve is presenting users with a very unique take on cryptocurrency and its use in fighting inflation. As the network approaches its full mainnet launch, there’s lots to dig into for those unfamiliar with the RSR currency. Here’s what you need to know.
Reserve Rights Crypto Promises to Fight Hyperinflation With Mainnet Rollout
- The Reserve Rights crypto network is not an entirely new one. In fact, it initially launched in 2019 on crypto exchange Huobi Global’s token launch platform.
- Reserve network’s promise to its users is to combat hyperinflation of fiat currency worldwide. In a recent slew of tweets, it even claims stable currency to be “a human right.”
- Reserve is combatting the phenomenon through its RSR token, as well as a $1 USD-pegged stablecoin called RSV.
- Users worldwide are invited to trade in their depreciating fiat assets for the RSV token in order to resist inflationary catalysts in their home nation’s currency. In its series of introductory tweets, developers use the examples of Venezuelan and Argentinian citizens as examples; the currencies in these countries have seen rampant volatility, and so they represent the target demographic of this network.
- RSR and RSV work together to keep RSV at its $1 peg, as well as the basket of assets that underlie RSV. The network holds a store of equal parts USD Coin (CCC:USDC-USD), Pax (CCC:PAX-USD) and TrueUSD (CCC:TUSD-USD) to keep the token’s value consistent.
- RSR is the governance token of the network. Holding it allows one to vote on proposals for the network; the more one holds, the more governance leverage one has.
- Additionally, RSR wil provide users with arbitrage opportunities, but exactly what these opportunities will look like is a mystery ahead of the protocol’s full main network launch.
- The main network launch will be occurring very soon, according to developers. Indeed, that’s why the token is coming into the spotlight today. According to recent tweets, users can expect the full rollout of the network at some point in December or January.
- In anticipation of the launch, the RSR token is seeing transaction volume ramp up. Transactions of the Reserve Rights crypto are increasing over 80% on yesterday’s volume.
- The news and the influx of buying is helping to bolster RSR values; the token is gaining 10% this morning.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.