Reserve Lodge
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Reserve Lodge

Reserve Adoption Update

New Stats! Mainnet VØ! BBC World! CryptoFest! — and more…

Welcome back! Lets do a quick run through :

  • Genesis
  • App metrics
  • Socials
  • New stats / usage
  • Mainnet VØ
  • Adoption
  • AOB

Genesis

In a slightly frightening turn of events I found out that about 1 year ago I posted the first ‘Lodge News Update’

629% — those were the days.

Let’s see what the devs had been up to (top left tweet)

Updates!

A faster keyboard — muh wen iOS? Now it’s all automated KYC and Dapps— how things have moved on.

Anyway, lets get on to the real meat and drink..

App Metrics

I’m just going to keep an eye on average ratings rather than app position as we know how many downloads etc (later).

A lot of the 1 star reviews are now not for lack of an invite, but wanting Venezuelan central bank transfers (only private banks allowed) and quite a degree of transfers getting cancelled, however most of these look like the old computing acronym of PEBCAK, but in our case PEBUAP (user and phone). The vast majority have been answered by Reserve giving a helpdesk link and state the issue was resolved. Still, it’s good feedback — somehow cutting out the copy paste of transaction IDs would be a help. Still, over 4 having taken in a lot of new accounts, not bad.

Socials

Yes — a million!

Over 1 million views of a recent tiktok video — impressive stuff.

Broke 50k Twitter

Engagement numbers still going up. The Tiktok numbers get a little drowned out by that massive spike in June, but it’s 5000 new followers a month. I’m guessing that the majority of users are quite young. There’s a new thing called ‘Meta’ — changed it’s name from Facebook — here’s someone promoting it.

This is what the world expects.

New stats / usage

Ok! Reserve released new metrics here

In a nutshell, from the last release of stats :

From 290,000 downloads to 350,000+

From 100,000 weekly users to 100,000 weekly users (?)

From 45,000 active customers to 55,000 active customers

From 5000 merchants to 7000 merchants

The standout for me is the merchants — 40% increase — keep going! That way users will need to transfer out to Bolivars less and less, thus saving even more money. Also bear in mind that it takes about a month to two months for new users to become weekly users and have savings, so those numbers should start to increase from the new influx. Transaction volume now up at around about $2M per day (which is a $730M business).

To break this out a bit, using 1% protocol revenue, that is about $600,000 per month earned. Terra earned $529,000 this last 30 days. (from Tokenterminal.com) With Terras P/E ratio off the charts at 6,692 (Fantom for comparison is 300), that would value Reserve at 87c factoring in a circulating supply of 56Bn. At even a P/E ratio of 1000 it’s still 13c. I think there’s underlying value there.

The good news is people are sticking with it, and the more merchants adopt, the more people will join and stay in my opinion.

Mainnet VØ

So for every day since I joined Telegram back in Feb 2019, (many) multiple people have asked ‘wen mainnet’. Well — now, sort of.

What’s with the scandinavian O? It’s a zero, or rather a slashed zero. So it’s prototype zero of 3. Here’s a screen grab of the documentation :

Eh? Explain in English bro’

It will go :

P0 -> P1 -> P2 -> Production (I’ll call it Live).

Each version will build on the last. So the full and complete logic is there, it just needs stress testing in both gas fees and bugs / exploits. Live version will be the one tested by Audit Companies.

So is it mainnet or not? What is this versioning I keep reading about. Versioning is a computer engineering way of progressing your written code to certain known states so you can be sure you’re not going backwards or introducing new bugs where the old code was fine. So yes, it’s mainnet as far as logic goes, but it needs to work faster and smarter. Sort of like a footballer learning a new move or trick — they can do it, but need to work on it a bit to be confident to use it in a competitive match.

It’s all published here

The readme is always a good place to start.

RToken variable properties
Proof of staking (see what I did there)

Nicely documented too — so even if you can’t read the code, you can follow the logic.

This is very exciting and the culmination of a lot of time, effort and philosophical thinking. So well done indeed to the dev team and all involved. I fall on the side that this version is better than the last one for 2 main reasons. 1) there can be no minting of RSR, what you see is what you get, so there will never be a priced in black swan. 2) staking as rewards — any model would have shown you the burning of RSR would not have a significant impact on price for the first 4–5 years, but maffs. Plus this is also an insurance mechanism that even if the team don’t come up with the best RToken in the world, anyone can come along and try their hand.

With such a simple and audited method of effectively minting and marketing a stablecoin, with real world 1:1 backing PLUS insurance — would a sports star or a band mint one and offer rewards or discounts on tickets / merchandise? Who knows.

Roll on the audit and in-app savings rates!

Adoption

Mentioned a couple of times earlier about merchants being a good driving force, well a potential big-boy is in the pipeline.

Cinex? Who? The largest cinema chain in Venezuela with 27 locations in 12 cities (wikipedia). So a pretty big deal.

704k followers — exposure.

Get a few more of the big boys in (farmatodo being one) and then you’ve got businesses needing to adopt Reserve to compete.

Still got the smaller enterprises — great.

I’m not sure this goes under adoption, but interestingly LemonApp (the ones Reserve invested in) just released a Visa crypto card

Wen PaRtNeShIpZ?
Stablecoin anyone?

Think of that what you may.

AOB

Got a few here, so will put them in no particular order

BBC News World Service had an interview on hyperinflation in Venezuela and the reporter mentioned the Reserve App

Nevin will be appearing at CryptoFest TODAY!

A Twitter spaces interview with HolaReserve

The metrics update caught Eric M Jacksons eye

Wen Minnet?

(he who wrote the PayPal Wars and was marketing VP of PayPal)

Whatever this could mean I don’t know

It’s just an apple

We know iOS support is on the way but it might be quite soon. Maybe in November, since testing mainnet will be priority. It’s only 6% of Venezuelan phone users but seems to have gained almost coinbase notoriety as ‘a thing’. It will pass in the night.

There’s a new website dedicated to crowdfunding with Reserve :

Doughnuts

Nice touch.

Giveaways as ever

Lastly, THAT wallet again.. President Xi offsetting more Evergrande stock.

That’ll be 284,337,806.14 RSR to you. 28th largest wallet. And no smart contract attached.

Probably just Elon

Phew! I think the next couple of months are going to be pretty exciting. I’ll be capturing as much as I can.

For the cover..

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Mr Mallo

Mr Mallo

Adoption Manager — Reserve Lodge