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Reserve v1

Reserve v1

RSVV1

Key Stats

Total Supply314.19K RSVV1
Max Supply∞
Launch Date2019-10-06
Built OnETH
Token StandardERC20
Smart Contract Address0x1c58…fae2
Decimal Places18

Reserve v1 Information

Websites
reserve.orgWhitepaper
Industries
Stablecoin
Parent Asset
RSV

Reserve v1 Price Converter

Reserve v1RSVV1
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Reserve v1 Supported Platforms

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Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
RSVERC20ETH0x1c5857e110cd8411054660f60b5de6a6958cfae22019-10-06

About Reserve v1

Reserve v1 (RSVV1) was the initial contract version of the Reserve stablecoin, providing a USD-pegged stable asset for transactions, savings protection, and DeFi applications. While it lacked features like meta-transactions, it served as the foundation for the Reserve Protocol's subsequent developments.

Frequently Asked Questions

Reserve v1 (RSVV1) refers to the first contract version of the Reserve (RSV) stablecoin. Like its successor, RSVV1 was an ERC-20 token designed to maintain a 1:1 peg with the US dollar. It served as the initial implementation of the Reserve Protocol's vision of a decentralised, asset-backed stablecoin aimed at providing financial stability in regions experiencing economic challenges.

RSVV1 was primarily used for:

  • Stable Transactions: As a stablecoin, RSVV1 facilitated reliable transactions without the volatility associated with traditional cryptocurrencies.
  • Savings Protection: It enabled users to hedge against inflation by converting volatile local currencies into a stable digital asset.
  • Integration in DeFi Ecosystems: RSVV1 was utilised as a stable asset within DeFi applications for lending, borrowing, and liquidity provision.

However, unlike its upgraded version, RSVV1 lacked support for advanced features such as meta-transactions, which limited its usability in certain decentralised applications.

RSVV1 was created by the Reserve team, co-founded by Nevin Freeman (CEO) and Matt Elder (CTO). The initial version laid the groundwork for the Reserve Protocol's later innovations, with backing from notable investors like Peter Thiel and Sam Altman.

The transition from RSVV1 to the updated RSV contract occurred in July 2020. The migration introduced support for meta-transactions, enabling users to make on-chain RSV payments without the need for Ether (ETH) as gas. This update improved the user experience and extended the functionality of the Reserve ecosystem. The migration process was seamless, with exchanges and wallets updating to the new contract address, ensuring RSVV1 holders' funds remained secure.