Reserve Unofficial Update

Mr Mallo
4 min readMar 22, 2024

Blackrock, TVL records, Minting madness

First they ignore you, then they laugh at you, then they fight you, then you win

Well this is fun isn’t it? And we’re only warming up. This time it’s different haha. What will this cycles narrative be? RWA and composable money it seems — well hey, we know a project that has been building this for 3 years don’t we?

Let’s grab some of Cadbury’s finest and look at numba go up….

  • Memory lane
  • TVL
  • AOB

Memory lane

We are now able to dig into 3 years of Medium articles, so in 2021 the App was riding high

In 2022 it was full bore

And in 2023 we had real-life use of the protocol protecting it’s peg for eUSD and initial stakers went to the barbers

8th richest country in the world

RSV moved over to eUSD sooner than expected

And in a thread which looking back was ON THE MONEY by Soham

I wonder what that looks like now? Well keep reading just to see RTokens in ETH…


Oh boy.

Ok ETH price has a effect, but that’s a good looking chart. Base is going in the same direction led by hyUSD and bsdETH

Base is growing fast — but Arbitrum is bigly.

hyUSD is now 5th biggest stable on Base — this is a bit behind….

Based ETH is also on fire

Minting today alone :

Staking still going up

And eUSD paying out in staking

So I think it’s fair to say it’s going well. BTW you can mint hyUSD on Base for pennies (as well as eUSD) or swap for USDC and start to LP on Aerodrome and Beefy for big gains.

It’s down to only 130% now :-(


Ugly Cash is ramping up

I get the newsletter so coming up is the following

Arbitrum is ongoing — contracts are deployed

There’s a fledgeling Brazilian community starting

Now then — Blackrock.

Mr Fink has gone on record saying tokenisation is the future — instant settlement — dominant form of bringing products will be ETFs.

That just happens to be Reserves vision — to tokenise real world assets and allow people to make money from them. Blackrock are in fact doing just that — BUIDL is BlackRock USD Institutional Digital Liquidity Fund :

Wow — see the similarities. And Reserve is fully ready to integrate this kind of thing. Next up — the RToken gold rush — mixing metaphors there but once these things become available then to be able to create an RToken and utilise it will be the next step. And they will be fighting for RSR backing as safety nets.

Good stuff.

Round up

Larry — gone — poor, poor, dear, dear Larry

Thomas and Gabo chat stablecoins and Ugly Cash

Vaya heating up as well!

Lets go!