Reserve Rights (RSR) is the governance and backstop token of the Reserve Protocol, an open-source framework for creating, deploying, and governing asset-backed decentralized stablecoins called RTokens. The Reserve Protocol was developed by Reserve, a company founded in 2019 with backing from PayPal co-founder Peter Thiel, Coinbase Ventures, and others. The flagship RToken is RSV (Reserve Stablecoin), but the protocol is permissionless — anyone can deploy a custom RToken backed by their own chosen basket of collateral assets.
RSR's role in the system is dual: RSR holders govern the protocol through a Governance DAO, and RSR acts as first-loss capital for RTokens. When the collateral backing an RToken falls below the peg, RSR is automatically auctioned off to recapitalize the reserve, protecting RToken holders at the expense of RSR stakers. This makes RSR a high-risk/high-reward position relative to the RTokens it protects.
RSR price today
RSR trades on Coinbase, Binance, Kraken, and most major CEXes, as well as on Uniswap. Live price on this page aggregates across RSR/USDT order books and updates every 60 seconds.
What moves the RSR price:
RToken adoption. New RToken deployments and growth in RToken TVL increases the value of RSR as backstop capital.
Yield on RSR staking. RSR staked in RToken overcollateralization pools earns a share of RToken revenue, and the yield rate affects staking demand.
Protocol TVL. The total value of all RToken collateral baskets is the fundamental anchor for RSR's backstop value.
Collateral incidents. A depegging event for a major collateral asset (e.g., a USDC or aUSDC depegging) would trigger RSR auctions and pressure the price.
DeFi and stablecoin narrative. RSR amplifies during stablecoin-related market narratives, especially after USDC or USDT confidence events.
The live price widget above streams current RSR data.
RTokens: how asset-backed stablecoins work on Reserve Protocol
An RToken is a fully collateralized, asset-backed token that aims to maintain a peg (usually $1) through a diversified collateral basket. Unlike algorithmic stablecoins, every RToken is backed 1:1 or better by actual on-chain assets. Collateral baskets are defined by governance and can include yield-bearing assets like cUSDC, aUSDT, or sDAI, meaning the RToken itself can generate yield for holders.
eUSD (Electronic Dollar) — backed by a diversified USDC/USDT yield basket.
Custom RTokens — permissionless deployment allows protocols, DAOs, and companies to create their own RTokens.
RToken revenue (from collateral yield or protocol fees) flows to RSR stakers who have locked RSR as overcollateralization for that specific RToken. If collateral depegs, the staked RSR is sold first to restore the RToken's backing.
RSR staking and overcollateralization mechanics
RSR stakers deposit RSR into an RToken's staking contract, contributing overcollateralization above the 1:1 collateral floor. In exchange, they receive a share of the RToken's yield revenue. This creates an incentive structure: RSR stakers are paid to absorb first-loss risk so that RToken holders do not have to.
The staking mechanism in three steps:
RSR holder stakes RSR into a specific RToken's stRSR contract.
Staked RSR earns a pro-rata share of that RToken's revenue (collateral yield, protocol fees).
If the RToken's collateral falls below peg, the staking contract auctions RSR to top up the reserve. Stakers lose RSR proportional to the shortfall.
Reserve Rights vs other stablecoin protocols
RSR competes for the stablecoin infrastructure narrative alongside MakerDAO (MKR), Frax (FXS), and Liquity (LQTY). The key differentiator is permissionless RToken creation — anyone can deploy a custom stablecoin basket without governance approval. MakerDAO's DAI requires MKR governance; Frax requires FPIS/FXS governance. Reserve Protocol's model is closer to a platform than a single stablecoin. For DeFi protocol token context, see Safe (SAFE) and our exchange ratings.
How to buy Reserve Rights (RSR)
RSR is listed on major CEXes and is one of the more accessible DeFi governance tokens for retail buyers.
Choose an exchange. Coinbase, Binance, Kraken, and Huobi all list RSR. See our exchange ratings for fee and security comparisons.
Complete KYC. Standard identity verification on any regulated exchange.
Deposit funds. USDT or USD via bank or card. USDT deposits are the most direct path to the RSR/USDT pair.
Buy RSR. Limit orders in the RSR/USDT pair are recommended. RSR is relatively liquid on the top CEXes.
Consider staking. To earn yield and participate in the protocol, unstake from the CEX and deposit RSR into an RToken staking contract directly on the Reserve Protocol app.
RSR is a first-loss instrument. Its core design means RSR stakers absorb collateral losses before RToken holders. This is not a hidden risk — it is the protocol's intended mechanism.
First-loss capital risk. RSR staked in RToken contracts is the first asset sold when collateral depegs. A significant collateral incident can wipe out staker RSR before RToken holders are affected.
Collateral dependency. RTokens rely heavily on centralized stablecoins (USDC, USDT) and DeFi yield assets. Failures in these underlying assets trigger RSR auctions.
Yield compression. If DeFi yields compress, RToken revenue falls, reducing the incentive to stake RSR and weakening demand.
Smart contract risk. Reserve Protocol has been audited but is complex. Bugs in the staking contracts or auction logic carry protocol-level risk.
Regulatory risk. RSR and RToken deployments operate in the stablecoin regulatory grey zone, which is receiving increasing attention from the SEC, CFTC, and EU regulators.
Market cap vs TVL mismatch. If RSR market cap is small relative to the RToken TVL it backstops, the first-loss protection is theoretically undercapitalized.
This page provides information only, not financial advice. RSR is first-loss capital in a stablecoin protocol — stakers can lose their entire stake in a collateral event.
Analysis last updated:
Reserve Rights price analysis
Reserve Rights (RSR) trades at $0.001269 with a 24-hour volume of $8.84M and a market capitalization of $79.39M. The asset is currently ranked #300 among all tracked cryptocurrencies.
In the last 24 hours, the RSR price has risen +0.90%. On a seven-day window, Reserve Rights has climbed +3.78%, showing consistent upward momentum across both windows. Short-term moves are often amplified by liquidity, news flow, and derivatives positioning, so confirm signals across multiple indicators before acting.
Reserve Rights's all-time high of $0.117424 was set on April 16, 2021. The current price sits +98.92% below that peak. Distance from the all-time high is a common reference point when evaluating long recoveries and macro support or resistance.
How to buy Reserve Rights
Buying Reserve Rights (RSR) is a five-step routine once you have picked the right venue and pair. The steps below mirror what most investors do today.
Pick a reputable exchange. Choose a platform that lists RSR with deep liquidity, transparent fees, and a clean security record. Our top-rated exchanges guide compares the leading venues side by side.
Create and verify your account. Complete the exchange's KYC process — most platforms require a government-issued ID and a short identity check. It is a one-off step that usually takes a few minutes.
Fund your account. Deposit fiat via bank transfer or card, or use a stablecoin like USDT or USDC. Stablecoin deposits settle the fastest and cost the least.
Place a buy order. Open the RSR/USD or RSR/USDT pair, then execute a market order for instant fills or a limit order at your preferred entry.
Secure your RSR. For long-term holdings, move tokens to a non-custodial wallet — a hardware device for highest security, or a reputable software wallet for frequent access.
You can also use the Reserve Rights converter above to estimate how much RSR you would get for a given dollar amount before placing the order.
Is Reserve Rights a good investment?
Whether Reserve Rights is a good investment depends on your goals, time horizon, and tolerance for volatility. Like all cryptocurrencies, RSR carries real market risk: prices can rise or fall sharply in a day, and past performance is not a reliable indicator of future returns.
Potential strengths
Ranked #300 by market cap with an established trading history and active exchange coverage.
Ongoing ecosystem development and community engagement, reflected in Decentralized Finance (DeFi) and Arbitrum Ecosystem activity.
Key risks to consider
Volatility: 5–15% intraday moves are common across crypto markets.
Regulatory uncertainty: policy changes in major jurisdictions can meaningfully affect price and access.
Liquidity and custody risk: not all exchanges are equally safe, and self-custody requires careful key management.
This page provides data and analysis for educational purposes only. It is not financial advice. Always do your own research, diversify, and never invest more than you can afford to lose.
FAQ
Common questions about Reserve Rights
What is Reserve Rights (RSR)?
RSR is the governance and backstop token of the Reserve Protocol. It is used to govern RToken parameters through a DAO and acts as first-loss capital for asset-backed RTokens. RSR stakers earn yield from RToken revenue but absorb first losses if RToken collateral falls below peg.
What is an RToken?
An RToken is a fully collateralized, asset-backed token deployed on the Reserve Protocol. Each RToken is backed by a basket of on-chain assets chosen by its creator and governed by RSR holders. Examples include eUSD (diversified stablecoin basket) and hyUSD (high-yield DeFi basket). Anyone can deploy a custom RToken permissionlessly.
How does RSR staking work?
RSR stakers deposit RSR into a specific RToken's staking contract (stRSR). In return, they earn a share of that RToken's revenue from collateral yield and protocol fees. If the RToken's collateral falls below its target value, the staking contract auctions RSR to recapitalize the reserve, reducing the stakers' RSR balance.
Who backs Reserve Protocol?
Reserve was founded in 2019 and received early backing from PayPal co-founder Peter Thiel, Coinbase Ventures, Sam Altman (via YC), and other institutional investors. The protocol is open-source and governed by RSR holders through the Reserve DAO.
What is the difference between RSR and RSV?
RSR is the governance and backstop token. RSV (Reserve Stablecoin) is the flagship RToken — a dollar-pegged stablecoin backed by a diversified collateral basket. RSR holds value from its role in the system; RSV is designed to hold a $1 peg for day-to-day use.
Is RSR listed on Coinbase?
Yes. RSR is listed on Coinbase, Binance, Kraken, and most major CEXes. It is one of the more broadly accessible DeFi tokens for retail buyers seeking exposure to the stablecoin infrastructure narrative.
What are the risks of staking RSR?
RSR stakers are first-loss capital. If the collateral backing the RToken they have staked into falls below par (e.g., a USDC depeg), RSR is auctioned off to cover the shortfall. Stakers can lose their entire stake in a severe collateral event before RToken holders are impacted.
How does RSR compare to MKR or LQTY?
MKR governs MakerDAO and absorbs DAI undercollateralization risk through dilution auctions. LQTY captures fee revenue from Liquity but does not absorb collateral losses directly. RSR is more similar to MKR in its first-loss role, but the permissionless RToken model means RSR backstops multiple diverse stablecoin products rather than a single protocol stablecoin.
