Reserve Unofficial Update
Base, Auctions, TVL, frUSD, RToken deployer guide and more!
Hello again and welcome to the start of the weekend. Reasonably quiet week I would say, but behind the scenes a lot of coding has been done and a lot of conversations have been had to potential RToken investors and creators. If you want to listen to a weekly Rtoken brainstorm then it’s held in Discord every Wednesday — just check the announcements channel. https://discord.com/channels/920041058941956097/920041059566882859
So, what’s been going on?
- Memory lane
- Protocol code
- Interviews / events
- RToken deployer checklist
- frUSD
- TVL
- AOB
Memory Lane
A year ago we had Lodgecast #5 with Bakufu Ninja
and 2 years ago the Yummy delivery service were accepting RPay and using RSV to pay their employees.
On a non-Reserve related note, but certainly a contributing factor in the current banking attitude to crypto, a big hand for Do Kwon
Protocol code
Worth noting here that there has been a vote approved for eUSD to upgrade the contracts to v2.1.0
Which prevents the auction stopping based on the rounding of a number from Gnosis.
Version 3.0.0 is already in the works, which I think handles automatic auctions.
It’s also worth mentioning here that the team intend to deploy the Protocol on Base — Coinbases layer 2 solution. This could be a game changer as the gas fees will be minimal and it might bring in more dApp development using RTokens :
Nice
Interviews / Events
Thomas spoke to @crvmktcap about the protocol and slipped in the alpha that they will deploy on Base
Around 1:26
Flux also tweeted
Also, James will be at Decentral Avenue in Santa Fe (I’ve been — it’s lovely).
RToken deployer checklist
Yes, it’s officially out :
In a shorter form — with links to the other areas of Reserve and help on choosing a basket and what staking is. Share it out!
frUSD
Que? Well now. This is a proposed new RToken —
Twitter is @fireserve — see what they did there? Probably not yet as I haven’t discussed what it does.
It’s a community token which sends a portion of the rewards to a burn address for RSR. Yes — burning is back, baby, and the new protocol allows it. It’s in the embryonic stage at the moment so if you want to geet involved, join the discord or telegram and give them a follow on Twitter. Disclosure : I am involved in this! I think it’ll be great experience to deploy an RToken and discuss governance over how much to burn and how much to incentivise stakers — it’s still a stablecoin but I can see it having a niche market of RSR holders — but that’s ok. I’m all for a long tail of RTokens.
TVL
eUSD has been stable this week — I would expect it to remain so until either the US banking has been sorted or Mexico ramps up a little. Or Moby surprises us with some mass adoption.
From the Moby Discord.. you never know.
Similar story for total RToken TVL as well.
Someone (is it Fennec?) has done a great infographic for RToken yields
hyUSD really needs people to know about it — 8% yield on a stable which is backstopped — that’s got to be one of the best deals for a stablecoin in crypto, right?
Another great graphic for hyUSD
AOB
Standard.
More chains! Less fees! More RTokens! More TVL — Yay.
And there you have it — thank you for reading and have a good weekend.
