The established stablecoin protocol $RSR , which debuted in 2019, has been making quite a stir recently, backed by heavyweights like Coinbase Ventures.
As a stablecoin system that emphasizes censorship resistance, the design of RSR is quite interesting—maintaining stability through a dual-token mechanism (RSV+RSR), where RSR acts as the system's "safety cushion," stepping in to rescue when collateral assets encounter problems.
From a fundamental perspective, with a total supply of 100 billion, currently 58.7% is in circulation, and the FDV is nearly $940 million, which is not insignificant. The price has dropped 92% from its peak of $0.11 in 2021, but it has still risen nearly 8 times from its bottom of $0.001 in 2020, showing a very "project-oriented" trend.
To be honest, this veteran in the stablecoin sector faces two key challenges:
First, the mainnet has yet to launch after five years.
Second, it is under pressure from giants like USDT and USDC.
Although the narrative of "censorship resistance" is appealing during tightening regulations, the actual implementation capability is the hard truth. In the short term, RSR might surge again due to the hype in the stablecoin sector, especially now that demand for decentralized stablecoins is increasing amid regulatory storms.
However, long-term value will depend on whether the team can fulfill their promise of launching the mainnet and the penetration rate in real-world applications.
After all, in the competitive arena of stablecoins, having only a story won't sustain you to the end.
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