Reserve Rights (RSR) is the token behind the Reserve Protocol, a system for creating decentralized, asset-backed stablecoins (called 'RTokens'). Unlike typical stablecoins backed by dollars in a bank, Reserve's stablecoins are backed by baskets of other crypto assets (like staked ETH or yield-bearing DeFi positions) managed by smart contracts. RSR plays two roles: holders can stake it to act as 'first-loss insurance' (overcollateralization) that absorbs losses if an RToken's backing falls short, in exchange for rewards; and it's used to govern the stablecoins. The long-term ambition is a decentralized, inflation-resistant currency not pegged to any single government's money. RSR has a large fixed supply (100 billion), and its value is tied to how widely Reserve's stablecoins get used.
Where it stands today: Reserve has found real traction in a meaningful niche — its RTokens are used as practical 'digital dollars' in hyperinflationary and capital-controlled emerging markets (Latin America especially: Venezuela, Argentina), where people need to escape collapsing local currencies. It's expanding into 'ETF-like' on-chain asset baskets and landed a payments partnership (AEON) that lets RSR be spent across tens of millions of merchants in regions like Southeast Asia, Nigeria, Mexico and Brazil. A governance proposal to burn a large chunk of RSR supply (~30 billion) and add a lock-based staking model is under consideration but not yet implemented. So today it's a small-cap with genuine real-world stablecoin usage in emerging markets, weighing tokenomics changes that could tighten supply.