Difference between revisions of "Reserve (RSV)"
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(Reserve (RSV)) |
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* https://reserve.org/protocol/rsv/ | * https://reserve.org/protocol/rsv/ | ||
* https://defillama.com/peggedasset/reserve | * https://defillama.com/peggedasset/reserve | ||
[[Category:Stablecoin]] |
Latest revision as of 09:39, 26 June 2022
RSV is backed by a basket of on-chain collateral assets, held by the Reserve Vault smart contract. This basket is comprised of equal parts TUSD, PAX, and USDC.
Key Features
- RSV Issuance: interact directly with the protocol to lock up collateral and issue new RSV.
- RSV Redemption: trade in your RSV for collateral tokens.
- Vault Rebalancing: holders can submit proposals to the Reserve Manager smart contract to rebalance the composition of the collateral in the vault.
Issuance + Redemption
In both cases:
- Approves our system to spend some quantity of their funds, using the standard ERC20 interface function.
- Calls the “Issue” or “Redeem” function in our smart contracts.
- During Issuance, USDC + TUSD + PAX is collected from the user’s wallet and a corresponding quantity of RSV is minted to them.
- During Redemption, it happens in reverse: RSV is collected and burnt and the user is compensated with USDC + TUSD + PAX.