<html> <p><img src="https://cdn-images-1.medium.com/max/1000/0*8_LsUhGJ5jeGncU3" width="1000" height="492"/></p> <p>As per the official communication Huobi Global, the world’s leading cryptocurrency exchanges will be listing PayPal-style payments project Reserve for the third official launch of Huobi Prime. Huobi Prime will list Reserve Protocol’s Reserve Rights Token (RSR) on 22nd May. Let’s take a short journey of Reserve ecosystem.</p> <h3>RESERVE</h3> <p>Reserve is a stablecoin( lIke USDT, USDC, TUSD) and a digital payment system for people and businesses designed especially for countries with high inflation like Venezuela. The project is supported by PayPal co-founder Peter Thiel, Ran Neuner, and Mike Arrington of TechCrunch as well as the President of accelerator YCombinator Sam Altman which makes it one of the most awaited projects of 2019.The silent features of Reserve can be summarised into three</p> <ul> <li>As a medium of hedging: Reserve enables people from countries with high inflation hedge their inflated local currencies into a stable digital currency.</li> <li>As a medium to transfer money: Reserve enables people to send money fast and cheap as well as protect the value of the amount you will be sending.</li> <li>As a medium of Payments: Reserve will allow businesses to accept payments in a Reserve, enabling them to carry on business while protecting their money out of inflation-prone local currency.</li> </ul> <h3>Tokens</h3> <p><img src="https://cdn-images-1.medium.com/max/1000/0*zB5c5x60Q53Odp8f.jpg" width="848" height="477"/></p> <p>As per the <a href="https://reserve.org/whitepaper.pdf">Whitepaper</a>, The Reserve Protocol interacts with three kinds of tokens:</p> <h3>The Reserve token (RSV)</h3> <p>Reserve Token(RSV) is a USD-pegged Stablecoin RSV. RSV is designed in such a way that can be held and spent the way we use US dollars and other stable fiat money. RSV is decentralised and is 100% asset-backed, which ensures it to maintain the $1.00 peg.Unlike other stable currency, the Reserve team has built in a mechanism to stabilise the peg when the Tokens get overvalued or Undervalued.The mechanism as described in the whitepaper</p> <blockquote>Suppose the redemption price of Reserve is $1.00. If the price of Reserve on the open market is $0.98, arbitrageurs will be incentivized to buy it up and redeem it with the Reserve smart contract for $1.00 worth of collateral tokens. They’ll continue buying on open markets until there is no more money to be made, which is when the market price matches the redemption price of $1.00.</blockquote> <blockquote>The same mechanism works in reverse when demand goes up. If the price of Reserve on the open market is $1.02, arbitrageurs will be incentivized to purchase newly minted Reserve tokens for $1.00 worth of either collateral or Reserve Rights tokens (the latter only if there is an excess pool of Reserve tokens available), and immediately sell them on the open market. They’ll continue selling on open markets until there is no more money to be made, which is when the market price matches the purchase price of $1.00.</blockquote> <h3>Reserve Rights token (RSR)</h3> <p>The RSR token is designed to support Reserve’s main token, the USD-pegged Stablecoin RSV. The Reserve Rights token will be used to keep the Reserve token stable at its target price and vote on governance proposals.</p> <h3>Reserve Rights token & Huobi Prime platform</h3> <p>Huobi Global will launch Reserve Protocol as third Prime Trading Project on May 22, 2019. To be eligible for participation Fully verified Huobi Global account is needed as well as a lowest daily HT holding amount over seven days will be calculated from 15th May to 21st May period(Minimum 1000 HT) and HT holding will be determined based on a daily random snapshot of account holding.Coming to price prediction, Looking at the past performance of Huobi Prime listing I think RSR will do 3 to 4x, not only because of the initial pump but because of the team and the solid concept RSR is backed by.To read more, you can click the <a href="https://huobiglobal.zendesk.com/hc/en-us/articles/360000266501">link</a>.So be quick, to be Primed for 22nd May.<br> To join Huobi Global, register at <a href="http://www.hbg.com/">www.hbg.com</a> and follow them at <a href="https://twitter.com/HuobiGlobal">https://twitter.com/HuobiGlobal</a></p> <p><em><strong>Disclaimer</strong></em><em>: This article is not intended as investment advice. It is just my personal opinion about Huobi Prime. You should always do your own research.</em> </p> </html>
| author | nibupraju |
|---|---|
| permlink | price-prediction-huobi-prime-3-rsr-reserve |
| category | huobi |
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| author | steemitboard |
|---|---|
| permlink | steemitboard-notify-nibupraju-20190523t071238000z |
| category | huobi |
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| root_title | "Price Prediction : Huobi Prime 3 + RSR (Reserve)" |
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