Binance TR's Resolv Protocol listing caught our attention. RESOLV, the protocol that protects the USR stablecoin, which is similar to USTC, was listed in the TRY trading parity...
BinanceTR delivers the most interesting projects to its users in the fastest way. We have put RESOLV under the spotlight for you.
Resolv Protocol is a protocol that protects $USR, which is pegged to the US dollar and supported by Bitcoin and Ethereum. At this point, it is similar to $UST (now USTC). UST was supported by LUNA (now $LUNC).
Resolv Protocol's mission is to protect $USR's stability at $1. How does it do this? The protocol has a number of tasks;
Issuance and redemption of USR against other tokens
Provision of sufficient support by BTC and ETH. This support is provided by protecting Ethereum and Bitcoin with short-term futures positions. Resolv benefits from the futures market.
Among RESOLV's duties is to control the liquid insurance pool designed to keep USR over-collateralized.
In short; there is a stablecoin. Resolv controls the pool consisting of Bitcoin and Ethereum to protect this stablecoin. It uses futures to prevent $USR from being affected by $BTC and $ETH price fluctuations. This is provided by short positions in futures.
Resolv Protocol uses trading strategies. You can understand that it is a constantly dynamic structure, but we should also analyze its risks well. We are sharing it with you in outline.
The maximum supply of $RESOLV is limited to 1 billion units. Its initial circulating supply was 155.75 million units. It reached a market value of $41 million with the listing. You can access RESOLV protocol via Ethereum and Binance Smart Chain networks...
It caught our attention because it has similarities with Terra. There are a lot of details about RESOLV. Be sure to do your own research. We will continue to monitor Binance TR listings.