In just over a span of less than a year, we have seen many versions of SushiSwap, PancakeSwap, PancakeBunny, Beefy, AutoFarm, and the list goes on, and now, or at least in the coming weeks, we would be expecting more forks of what is really trending at the moment; DeFi 2.0, Decentralised Reserve Currency Protocols.
So why is it gaining such soaring popularity?
The term “Reserve Currency” refers to a currency that is essentially backed by a reserve, much like how the Central Banks manage their currencies using reserve assets, a Decentralised Reserve Currency Protocol (DRCP) manages their currency with their cryptocurrency reserve assets.
This means that the price of the issued currency/token is backed by a treasury, also known as the Reserve, giving users of the protocol a further layer of assurance knowing that the price of the token they have purchased does not fall below a floor value.
The prominent difference is that, unlike the Central Bank, where decisions are made only by the elite few, a DRCP allows its community to vote on every decision made via an infrastructure known as the DAO (Decentralised Autonomous Organisation).
Moving away from DeFi 1.0, where a protocol pays out high farming rewards to incentivize borrowed liquidity from its community, a DRCP works on a Protocol Owned Liquidity structure, where the fees to provide liquidity are earned for the Protocol, acting as another source of revenue for the Treasury.
Needless to say, what is really attractive with these current Superstars of DeFi is the insanely high yields they are offering to its users, so much so that investors around the world are buying into these DRCP tokens, staking them and not selling them because of one common goal. Which is to see a further appreciation in price and knowing that there’s a reserve backing each token, gives users consistent confidence to hold on to their investment.
At the same time, a DRCP’s assets in the Treasury grow by offering “Bonds”, allowing users to exchange their crypto assets for their native token with a discount, giving an outright yield.
What are the risks involved?
“Our codes define who we are”; familiar? To put it bluntly, being a “DeFi” platform became the perfect excuse to remain anonymous. There is no company established, the platform does not comply with any laws or policies of any jurisdiction, there is basically no one that can answer to or be responsible for your investment. Sure, it is decentralized, but to what extent of being decentralized are such investment platforms?
Almost every other day, we have heard of “RugPulls” or a project being exploited, abandoned, or have reached the final stages of self-destruct and no one can account for all the monies lost. More importantly, it is a mystery whether these financial instruments or platforms are designed and managed by qualified individuals, which is of direct implication to how sustainable are its economics.
We have long envisioned a fully decentralized autonomous organization that is designed by professionals from the financial and technological industry, one that aims for a long-term vision of growth, sustainability, and transparency. A soon-to-launch Decentralised Reserve Currency Protocol; MetaReserve, aims to take the lead in setting a new benchmark in the wild west world of DeFi.
MetaReserve, a product developed by the team of Raiona Digital Assets KFT and partnered with Lion Group Holding Limited, a listed company on NASDAQ, can be foreseen as the upcoming rising star of DeFi 2.0.
Through the Treasury of MetaReserve, the DAO infrastructure empowers and envisions a multi-chain enabled Metaverse built for innovations, where its community decides on its investments; partnering or incubating promising blockchain-enabled games, NFT and DeFi platforms. A virtual world where its community can witness the birth of new games, explore new DeFi protocols, understand them, and be part of each project’s growth.
Revenue generated from all partnerships will further grow the Treasury and at the same time, allow cross-collaboration across various blockchain networks can garner a faster, larger community growth and all governance token holders will reap the rewards when each investment takes off. A business and investment-centric Metaverse built for everyone and not just the rich and elite few.
Developed and managed by a spectacular team of veterans, Chief Executive of MetaReserve, Mr. George McCluskie, a Senior Executive in the Oil and Gas industry specializing in cyber and data security, has led several successful mergers and acquisitions of some of the world’s largest Energy giants and developed system analytics and security protocol for offshore rigging, which is now used as an industry standard. Mr. McCluskie is now, at the forefront of AI advancements, implementing new technologies to innovate and improve existing systems and protocols.
Mr. Tamas Pocze, Masters in Economics, leads the role of Chief Operations, an established fund manager, Head of European Operations at Innovative Securities (New Zealand), and led strategic operations for MBI International in Vienna and London, with past experiences in private and investment banking with GE Money and Concorde Securities.
Dr. Pavlo Yermilov spearheads business development and strategic planning for MetaReserve, held various senior management roles at MTB Bank, Sberbank, and Commerzbank Group. Dr. Pavlo was a member of the supervisory board of MTB Bank, led the transformation of MTB Bank’s corporate governance, and conducted major government relation projects at Commerzbank. Dr. Pavlo holds a Ph.D. in Finance & Economics, a post-graduate in insolvency management, and a Masters’ in Financial Management.
Read more about the the-all-stars line on the website.
Looking beyond a singular protocol
The interesting highlight of MetaReserve is not only the fact that they are “doxxed” and supported by a publicly listed company, nor the bold creation of a virtual innovation center, but their ambitious dream of uniting MetaReserve across various blockchain networks by implementing a cross-chain communication layer, starting with Binance Smart Chain.
After achieving milestones as set out by MetaReserve, the next exciting big release would be METADEX, a decentralized exchange where it targets to provide a home for its incubated projects and partners, providing a convenient destination for them to launch their tokens for trading and a user-friendly experience for all of its users.
Lastly, together with veteran financial advisors from Lion Group and the profound team of Raiona Digital Assets; strategic planning, management, and execution of the treasury will be proposed to the community. This is an important key function for the growth of the treasury which we do see lacking in most of the current DAOs available in the market.
With the purpose of incubating and partnering new innovations or forks in the world of blockchain-enabled games and DeFi, MetaReserve’s Treasury targets to allocate a portion of their assets to invest into selected projects and such decisions will be made by the DAO.
Community members can earn governance tokens and vote on proposed projects to be incubated or partnered with and easily navigate to “Laboratory” to have a quick overview of selected projects as voted by the community. This initiative enables a seamless and dedicated acceleration platform for projects, giving them financial assistance, an audience, and a virtual environment that creates a unique experience for everyone.
As an incentive of being part of the governance token structure, community members can gain exclusive early access to new project launches, just as similar to the upcoming launch of MetaReserve, the world’s first Decentralised Reserve Currency Protocol backed by a publicly listed company. Going live this Christmas!
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