Reserve: The Fight Against Hyperinflation

Reserve Rights was founded by Nevin Freeman and Matt Elder. Freeman is the CEO of Reserve and an accomplished entrepreneur. He describes his life purpose as “solving coordination problems that prevent humanity from realizing its potential”.

Matt Elder is an accomplished engineer who previously worked for Google and Quixey. As CTO of the project, he now oversees the architecture of the Reserve protocol implementation.

Since its launch in 2019, Reserve’s team has grown significantly and now numbers more than two dozen individuals, including engineers, developers, and legal and compliance personnel – all united under the shared ambition to position Reserve as an open, massively scalable stablecoin that promotes economic prosperity.


Token

Reserve Rights’ dual token structure includes a stablecoin known as the Reserve stablecoin (RSV) — which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities.

Unlike RSV, the reserve currency (RSR) is volatile. Its main purpose is to help maintain the stability of RSV. It can also be used to vote on governance proposals — to help holders shape the future of the Reserve Rights ecosystem.


Against hyperinflation

Access to a stable currency is seen as a dream come true for millions of people living in countries where high inflation, or hyperinflation, is hurting their economies. There are more than ten countries in the world where inflation is more than 30% per year – meaning that money earned or saved each year loses a huge percentage of its purchase value.

However, with a simple download of the Reserve app (available on Android or iPhone), citizens can quickly participate in a destiny from inflation, using some of the benefits of cryptocurrency to protect their wealth and savings, without having to resort to technical or specialist knowledge.

Reserve, which currently operates in Venezuela, Argentina, Peru, Colombia and Panama, has grown to more than 500,000 users in the past year, with 12,000 merchants accepting the stable currency either in-store or online. Supermarkets, pharmacies, food delivery companies, taxi companies and fast food chains are just a few of the many types of businesses that personally accept Reserve.

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Reserve is backed by renowned Silicon Valley investors, including Coinbase Ventures, PayPal co-founder Peter Thiel and former Y Combinator chairman Sam Altman.

Users of the app can access the Reserve Dollar (RSV), which is a cryptocurrency that maintains 1-to-1 parity with the US dollar. It is 100% fully backed by US dollars, avoiding the traditional volatility usually associated with cryptocurrencies.

Nevin Freeman, CEO of Reserve, said: “We serve people in countries where economic problems overwhelm their citizens, leaving them vulnerable and invisible to the system or support networks.

“We are working to rebuild financial services in societies traumatized and stressed by decades of ‘wealth destruction’ due to high inflation and ongoing currency devaluation.”

“These are scenarios where access to a stable currency can really make a difference.”

“Over time, our mission is to provide everyone in the world with access to a stable currency to avoid the intense humanitarian hardships caused by hyperinflation.”

“It is a humanitarian problem that we believe can be fully resolved.” Reserve will be governed by a decentralized protocol, with its token “RSR” allowing owners to control the ecosystem as well as ensure future stable coins based on the Reserve protocol


In brief

  • With an Android or iPhone app, residents of struggling economies can ‘escape’ inflation by switching to a stable coin, where $1 always means $1
  • The Reserve app allows people to save, spend and receive money in a stable coin that is fully collateralised, backed by stable assets and currently pegged to the US dollar
  • 500,000 users and 12,000 merchants already save and spend with Reserve in Latin America
  • Supermarkets, pharmacists, food delivery companies, fast food chains and taxi companies are just a few of companies from various industries that accept Reserve
  • The Reserve team believes that access to a stable currency should be a human right – and that, with time and perseverance, hyperinflation can be eradicated


More information about Reserve, the Reserve Protocol, the Reserve app, and investors is available on the project website

For further questions or information, please send an email to: [email protected]

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