KNOX Dollar

The Reserve protocol is the first platform that enables the permissionless creation of asset-backed, yield-bearing, and overcollateralized stablecoins on Ethereum. Its ultimate goal is to provide highly scalable, decentralized, and stable money, offering an alternative to the volatile cryptocurrencies such as Bitcoin and Ether. Many existing stablecoin designs have clear flaws, as detailed in the 2018 Reserve protocol whitepaper. We argue that a widely used stablecoin should initially implement an exchange rate peg to a fiat currency, transitioning to a basket of assets later. This approach involves using off-chain foreign collateral that has been tokenized by a variety of issuers. Moreover, we believe that open exploration and competition are key to discovering the best type of asset basket and governance system for optimal on-chain money. This should not remain under the control of the initial founding team. Therefore, the Reserve protocol is entirely permissionless, allowing anyone to deploy a Reserve stablecoin (RToken) with their preferred collateral basket, governance system, and revenue distribution. Explore the potential of the Reserve protocol and join the revolution in creating decentralized, stable money.