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Reserve Adoption Update

App reviews, Socials, Ari Paul Interview, Focus on Mexico, Media Collection AND MORE..

***NEWSFLASH***

THE APP WILL STAY OPEN!!!

Welcome to the end of September!

2 things happened yesterday. Firstly the App went back to the invite system (as far as I know) and Venezuela dropped 6 zeroes from it’s currency. Yes, 1,000,000 Bolivars is now 1 Bolivar. Which is about 25c. This doesn’t make anyone richer but presumably has just extended the life of a Venezuelan zero button on a calculator by 6 times.

Lots to get through, so let’s get going!

Up a place from last week but look at the reviews! Up to average rating of 4.54 — great stuff. I had a look at the incremental reviews and they are off the charts for the latest update :

Since the App opened at the beginning of September, we’ve had around 600 new reviews — I think the 23x multiplier I was using is far too small — my total guess is that we will have seen around 100k new users in September. Not all of those will be using the App weekly of course, but as we know, there’s about a month or 2 lag between starting using the App and having savings and transacting more often. It’s a trust thing. The average savings after 2 months is $100 — imagine if they could earn interest on that….

People, as ever, are super happy to use the App

On top of users being happy, people who want to move to the next level of transactions can now do it completely automated! Yes, that’s right, Level 1 KYC is finally automated!

The 3 levels are as follows :

Level 0 : $300 per day, Level 1 : $3000 per day and Level 2 : $10,000 per day (there is a level 1.5 for Argentina but lets keep it simple).

So now you can move up to spending 10x automatically and quickly. Should be good for RSV adoption.

Solid growth all round. I shall be lopping off September 2020 next week.

I’ve focused again on businesses getting the App… plus people getting friends and family on board.

One eagle eyed Ranger noticed his stationery supplier now accepts Reserve

It’s great to see so many small businesses signed up — as they are the ones most hit with Hyperinflation. Our friend the spice man is still accepting Reserve :

Sneaked from the Ari Paul interview (see later) — some real metrics!

As we can see in one week of August users went from 32.7k to 36.1k. We can also see the March madness and the support issues afterwards. But then it’s your classic management presentation slideshow graph of 45% up and right — “and those are my predictions for the next 20 years Mr Chairman”. Well, OK, maybe a few months. If we were to follow that through to end of September then approx 45k weekly users start Sept should be about 67.5k now. The other numbers might be 147k monthly users and around 400k registered accounts. Depending on the invites through October, I would expect to see the Google Play downloads tick over 500k within the next month or so. If this trend continues, then over 100k users end of October, 151k end Nov and 227k EOY. I know the business users move more $$, but per head if 45k = $1.6M per day, 227k = 8M per day and nearly a $3Bn Tx volume yearly. Three Billion.

Few things to add here — firstly the interview with Ari Paul, CIO of Blocktower Capital and seed investor. Famously of the tweet.

Definitely have a watch — it’s really interesting.

Nevin will be a speaker at CryptoFest 2021 at the end of October

Pizza givaway! If a rangers tweet got 100 likes, Reserve promised the pizza

Reserve has a chainlink data feed — for checking the price of ‘other assets’. Rtoken investigation?

Interesting article from Andreeson Horowitz (now a16z in a nod to i16n — none the wiser? GIYF).

An interview with Luis Moreno Ocampo, who was First Prosecutor of the ICC

Visa are looking at a stablecoin gateway

Remember this?

Also, Nevin addressed App users about the Bolivar transition

People really appreciated this approach from a CEO :

The 5 gaming places have been selected for Argentina — congratulations.

Lastly in this piece, we managed to send Mrs Hernandez over $1594 dollars to help her husband get his kidney transplant — thank you one and all for your generosity. It is a testament to Rangers that they have a great human side to them as well as being crypto enthusiasts. It is rare to see in the crypto-sphere. Needless to say I transferred it direct to the App.

Ok slow down — it’s not happening now. I thought I’d do a quick piece on it as it is in planning and they do have a team dedicated to launching there.

We quizzed Matt G on this yesterday

Gabo has already stated the aim to get to Mexico from the AMA

What might this look like in terms of RSV and App use? Well, Mexico’s average salary is conservatively $1000 per month, which is 30x a Venezuelan salary — so Mexicans using the App potentially will 30x the Tx volume. You get 1 month of, say, 30,000 Mexicans and that’s potentially $3M a day. Mostly it will be remittances to start, and there will be less incentive to save in the app as inflation is not that big a deal. Still promises much though, as those remittances can then be put into the saving RToken (hey, even Mexicans might think that is a good idea, better than a bank account).

Here’s some numbers on remittances in total

Well it wouldn’t be an update without yet more President Xi wallet action — he’s offsetting the Evergrande losses.

Now putting President Xi holding more than FTX and Binance 14. I’ve heard of China buying US debt but this is getting ridiculous. This is patently not a single person, but an institution of some kind — so what are they doing with all this RSR? Some sort of fund? Liquidity pool? Answers on a postcard please.

Well, that wraps it up for another week — enjoy and see you in 7 days!

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