Back in October we launched RSV V2 on Ethereum, a set of contracts that allow anyone to generate or redeem RSV and provide a decentralized proposal system for management of the underlying collateral. You can read more about it here:
At first, only those who were pretty tech savvy were able to play around with the new RSV. In order to generate tokens, you needed to make a series of ERC-20
approve function calls followed by a strangely-shaped call to our Manager smart contract. You could do it using Etherscan, but it wasn’t particularly easy, especially for the average crypto holder. Still, we were surprised: many of our community members dove in and showed their technical chops. In fact, someone actually went ahead and created a frontend DApp, without our help! Thanks @CoderStav!
Having an active community is great, but canonicity is important.
Meet the official RSV Portal
Today we are happy to announce we are launching the official RSV portal. With this portal, anyone can create RSV in the space of 2 blocks. No waiting for banking infrastructure; no relying on a trusted intermediary; it just works.
You can head here to check it out for yourself, or just watch the video below.
(Note: You’ll need metamask to interact with the portal.)
How it works
You’ll need balances of USDC, TUSD, and PAX, in order to generate RSV. The DApp will first generate three
approve transactions for you to sign, one for each collateral token. These transactions gives permission to the RSV Manager to transfer your tokens. Once all three
approve transactions are complete, you’ll be asked to sign one more transaction. This final transaction transfers the collateral tokens into the Vault and mints new RSV to your address. That’s it!
And of course, you can always redeem RSV, whether you generated it or bought it elsewhere, for the underlying collateral.
That’s all for now! If you’d like to get more involved, check out the links below.
RSV Portal: https://portal.reserve.org
Community Telegram: https://t.me/reservelodge