Jan 13
Reserve Unofficial Update
Twitter Spaces, RWA, RSV metrics, Moby LIVE — AND MORE
Happy Friday all! Friday 13th — luckily we have our lucky clover to ward off the evil spirits.
Are you sitting comfortably? Then we’ll begin.
- Memory lane
- Bug Bounty
- RSV
- Twitter spaces
- RWA
- eUSD / Moby
- AOB
So many TLAs ha.
Memory Lane
Not a great deal of note, but the new contract address was 1 year ago :
Whereby all RSR was given a quick polish and people had new shiny RSR.
Bug Bounty
We’re half way through the bug bounty — ends next week
Random quote from one of the investigators on Discord
We’ll get the results, which will more than likely mean some code changes, a bit more testing and then the all clear. Shortly thereafter we should see eUSD as an RToken. More on eUSD later.
RSV
Yes — a chart. I’m spotting some patterns. Total Tx now over $5.2Bn. I’ll keep this one going until we get back to adoption numbers — then we might keep both! Will also consider a daily scrape of eUSD as well.
Twitter Spaces
Sinatra hosted a Twitter spaces to discuss RWA with 3 other companies
Interesting stuff — with real traction coming in the next months and years. Estimates that up to $10Bn RWAs could be on chain in the next year. Backed also have an sp500 token awaiting approval :
Smeddy has written a nice Twitter thread summing up the main points covered here :
Here’s the recording :
A transcript here if you want :
Which leads us on nicely to some more RWA news
RWA
Here’s a great article showing the business case for RWA on chain — basically the cheaper / better / faster paradigm.
Notably, this is what the administration for a security looks like
Most if not all of these can be handled by smart contracts, thus cutting out a lot of the boring manual administration, leading to what everyone really wants : lower loan % rates. Admin costs down -> cheaper loans.
And for an intro (written by Jack Chong above) a really in depth report :
Reserve was mentioned on page 92 of Messari’s yearly round up
There will be much more to write about in the 2024 version.
eUSD / Moby
Is now live out of Beta so anyone can download and create an account.
So we had a play — only MOB to start, but they have confirmed the next update will handle eUSD within the app natively.
Must say that once you’ve got the name or contact details of who to send to, it’s instant. Also only 0.25c per transaction, which is great. Cross border Tx for 0.25c? Yes please. Once eUSD is natively in the app your intrepid reporters will post more results.
AOB
Standard.
I managed to ask Matt Gertler about the Mexican entity and the US licences — the entity is a ‘SAPI’, which is essentially a limited company.
No further on the US licences though. Expecting a bit of news on Mexico within about a month…
Nice category list for RToken deployers
Larry the cucumber has done a great Dune dashboard for all things Reserve — RSV, Frax staking, RSR DEX activity…
Last one — quests on crew3
https://reserveprotocol.crew3.xyz/
You get XP points for carrying out quests — helps you learn about the protocol as well.
So that’s it for another week — thanks as ever for reading and hopefully next week we’ll finish the bug bounty later on Friday. I might delay until Saturday or put out a quick tweet with results as we get them.
