On 02/24, the Electronic Dollar (eUSD), a decentralized 1:1 asset-backed stablecoin built with @reserveprotocol, officially launched on the Ethereum & MobileCoin blockchains.
eUSD is NOT your average stablecoin. It is decentralized, community-governed, and censorship-resistant.
The collateral composition of eUSD consists of a diversified basket of yield-bearing, trusted stablecoin derivatives using Compound and Aave (cUSDC, cUSDT, aUSDC, aUSDT).
Not only does this basket provide a censorship resistant, stable backing - it also generates yield 👀
100% of the yield that eUSD generates is directed to RSR stakers who participate in governance and provide overcollateralization.
Fun fact: eUSD is currently 189% overcollateralized, 89% of which is coming from RSR stakers earning ~3% APY.
1/5 With eUSD around the corner, hear @brady, head of BD @mobilecoin, and @0xJMG, head of Ecosystem @reserveprotocol, at #Davos talking inflation, unlocking RWAs, privacy and global money 🔥
2/5 Reserve's permissionless platform allows anyone to create an asset-backed currency, and @mobilecoin's mission is to make global payments inexpensive, secure and fast.
Listen in as we discuss where we think the future of money is going as we head towards eUSD's launch.
3/5 Once deployed and in the @moby_app, eUSD can be sent to any smartphone in the world, with:
- settlements under 5 seconds
- a fixed fraction of a cent cost, regardless of transaction size
- privacy and data-protection at every step
99 days since the protocol launch, and we are delighted to share the results of our Reserve x Gitcoin Hackathon 🚀
- 24 collaterals being added to the protocol to serve as backing for RTokens (bringing us to 42)
- 2 projects ready to be incubated
- Nine content winners
2/22 First up, our Innovation in DeFi awards, two projects receiving $15,000 each, projects we feel have a high chance of success in establishing RTokens in the world 🌎
Auto-adjusting RTokens, and minting RTokens without chasing collateral sources - both knockout features 🔥
3/22 WINNER 1: “Dynarev” Stablecoin Rating Framework by @Lavi_54 and @dabar_90
Dynarev (”Dynamic Review”) is a framework for dynamic risk ratings for stablecoins and DeFi protocols, with a goal of allowing RTokens to have auto-adjusted collateral baskets based on risk scores.
1/6 We've received quite a few questions about the relationship between #RSR and #RSV that is being used in the Reserve app.
☑️ "Can I stake my RSR on RSV?"
☑️ "Do RSR holders benefit from the growth of the Reserve app?"
Let us try and clear this up in this thread ⬇️
2/6 While RSV in its current form can not be staked on, our objective is to eventually replace all RSV balances in the app with RToken balances, and allow RSR to be staked on them.
RSV is centralized, and our vision for the app cannot be achieved with a centralized currency.
3/6 We'll come to a point where we'll want to start using a decentralized currency in the app in order to avoid the risks that come with centralized ones for our customers.
This currency will require decentralized governance & insurance, which is where RSR comes in.