1/

@LidoFinance's increasing market share is on everyone's mind right now. While impressive, it arguably presents a threat to the overall health of the network.

Let's talk about ETH+ and how it could be used to mitigate these Ethereum staking centralization concerns. 2/

As a reminder, ETH+ is an RToken deployed using the Reserve protocol.

Its mandate includes maintaining an "Ethereum aligned Liquid Staking basket, making a positive impact to Ethereum's staking distribution and bringing value to ETH+ holders."

For more about ETH+, read on

https://twitter.com/SotoPerregil/status/1693315843457704386

1) This morning, $eUSD collateral was rebalanced. The $cUSDC and $saUSDC were auctioned off to be replaced with the emergency backup: $USDT. 🎉 2) Because $USDC was trading at a discount (~$0.955), that leaves $eUSD about 98% backed with collateral in the basket.

The next step is for the protocol to sell staked RSR in order to cover that difference and bring the backing back to 100%.

1) Rangers, MEV searchers, & arb aficionados...

Tomorrow, we call on all of you to participate in the first auction of defaulted collateral that backs $eUSD, an asset-backed currency deployed on our protocol!

Auctions available to begin at 3:37am PST ⏰ 2) When $eUSD was launched two weeks ago, I doubt many people in the world were expecting $USDC to depeg from $1, but it has, and here were are.

$eUSD is backed with 25% $cUSDC and 25% $saUSDC which have remained below their default thresholds of $0.9875 for 24hrs.

1/12

The #ETHDenver2023 report 🔥

18 members of the protocol team (including engineering, biz dev, legal, design, film, someone called Nevin) gathered for:

- On-site planning
- Reserve Hackathon
- Speaking at ETHDenver
- 2 after-hour hosted events
- Meetings w/ other teams 2/12

We think we've built something the world truly needs and enjoyed coming together IRL to explore what comes next... 👌

And in a world partly re-organized around remote working, it's a reminder of the importance of being in person sometimes.

1/4
Reserve your beanie #ETHDenver2023

Step into a world of dreamers, heroes, and builders with Reserve's Stable Currency Human Right beanie 2/4
From the artist, the beanie makes reference to an expanding and vibrant universe

The material (value) and ethereal (the medium of exchange) are constantly transforming and shaping a new reality: the future of money

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 👀

1/17

We have an important announcement to make:

…Reserve has reached the ALL CLEAR MILESTONE 2/17

This version of Reserve’s rigorously audited and tested codebase kicks off our journey of enabling stable, asset-backed currencies for the world.

And in this post, we’ll explain how you can take part! 🔥

1/5 📢 Reserve's #ETHDenver Developer Hackathon is coming up on March 1st!

⏰ Wednesday March 1st, 10 AM to 5 PM MST
💰 Over $70k in hackathon prizes to be announced
🍔 Free lunch

Interested? 👇🧵 2/5 This event celebrates our All-Clear milestone (Reserve passing all code audits) 🥳

Now we want YOU, the buidler, to show off what Reserve's asset-backed currencies (RTokens) can do.

We have 2 hackathon categories:
1️⃣ RToken pitch & adoption
2️⃣ Collateral plugin development

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 🔥

Special thankyou to @dianazalles at @GBBCouncil for moderating!

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.

1/22

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 🔥

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.

1/5 Next up on sharing what the first Reserve dApp will look like: the RTokens dashboard ✅

Welcome to the homepage of the dApp - designed to give the user both a personal and global overview of the RTokens platform. 2/5 **Please note that all data shown in these images is for demonstration purposes and does not represent the current state of the Reserve app or the RToken platform.

Anyone will be able to view the up-to-date statistics once this dApp has launched 🙌

1/4

In advance of the full protocol launch, it's time to take a look at the first "Etherscan-style" #dApp coming to Reserve ✅

We begin with the minting and redeeming dashboard - with quick links to staking, auctions, and governance: 2/4

Highlighted features include:

- the RToken selection panel,

- where to connect your wallet for minting, redeeming, staking and unstaking,

- the staking calculator, where you can estimate the yield provided for insuring any RToken.

1/11 We often get asked what the exact role of Reserve Rights (RSR) is within the Reserve Protocol 🤔

While you can’t do much with RSR in its current form, it will soon become one of the most crucial elements for the protocol.

A 🧵on the future of Reserve Rights 👇 2/11 First of all, we want to acknowledge and thank the RSR holder community for the large amount of patience needed while waiting for mainnet launch.

The protocol team has been working very intensely, and important milestones are constantly being checked off ✅

1/10 The results are in! 🗳️

90% of locked RSR is now governed by selling restrictions during unlock, and the 10% that isn't is mostly held by those with long-term mindsets!! 🥳😎🤟🤩

See full article (Medium) or read this thread for the summary ⬇️
medium.com/reserve-curren… 2/10 In case you don't yet know what the new unlocking option entails, take a look at the image attached for a high-level comparison between Option 1 & Option 2.

For a more elaborate explanation, read the article linked above ⬆️

1/8 We have just minted 12 million RSV:

etherscan.io/tx/0x762e4d702…

Here's some more info on why we decided to do that ⬇️ 2/8 First of all, keep in mind that minting RSV is something that is not exclusive to the Reserve team.

Anyone can permissionlessly mint and redeem RSV at portal.reserve.org or directly with the smart contracts.

1/5 Here's some news about mainnet 👀⬇️

Our protocol team anticipates launching mainnet in December or January.

We're aiming to launch as soon as humanly possible without sacrificing on our level of security 🔒 2/5 As we're building in public, you can follow along with our progress on GitHub 🧐

The team pushes commits most days of the week. Even on days they don't commit, they are almost always making progress in the background.

github.com/reserve-protoc…

1/11 The Reserve app has been out about a year now, mostly invite-only.

It has been a tremendous journey so far and we're really glad you were here with us. 🙏

Now it's time for us to share some stats! 📈 2/11 Let's start by taking a look at the growth in customers.

Our customer base often grew faster than our systems at that time could handle, causing us to have to implement the invite-only system.

Despite that, we're proud of the adoption numbers that we've achieved so far ⬇️