Update brought to you by the Decentralized Ranger Folio (DRF) - a guild of heroes, idealists, & capitalists fortifying the RSR ecosystem.
January delivered a string of positive developments. Nevin shared the path ahead for DTFs–one where anyone’s idea can make a difference. The core community will focus on designing DTFs they would personally mint. If you’d like to help craft the next wave of DTFs, get in touch with @starl3xx.
The most exciting datapoint last month was this Monthly Active User (MAU) chart shared by Ugly Cash:
Ugly Cash is growing!
On the community call, @josh (Ugly Cash co-founder) noted that Ugly Cash users now represent a meaningful share of RSR holders. As Ugly becomes a staple of its users’ financial lives, this group will naturally develop into a highly educated community of Rangers.
Hypothesis: if market conditions brighten and being an early Ugly user becomes lucrative enough to spread, will we see even steeper MAU acceleration? Could growth in user RSR balances activate an edge for Ugly that competitors lack?
RSR x DTF Power Gauge
We rolled out a Net Promoter Score (NPS) survey to quantify ecosystem sentiment. We’ll run it quarterly (same core questions) so we can track trends over time and use your feedback to prioritize improvements. You can participate here–it takes <2 minutes. We’ll publish results in a few weeks.
DRF January Call
We discussed the RSR burn models, social media strategy, RSR trust wins, and developing a grant pipeline for independent work in the ecosystem.
DRF Community Growth
@blue shared data updates on DRF community growth (members, followers, engagement) + strategy priorities.
@DRF_hq X:
Members agreed that @DRF_hq should prioritize plugging into major narrative and meme trends whenever possible. There was a debate over whether our core target audience should be those already familiar with Reserve or DeFi MAUs who are currently unaware of the protocol.
Shared ideas and strategies to focus on: Protocol mechanics, educational how-tos, Ray Dalio-style content. Rather than leading X replies with a Reserve introduction, join an ongoing conversation and introduce Reserve later as the conversation develops.
What would you like to see more of from X.com/@DRF_hq on X? Who should we target?
Trust
In the Jan 23 community call with ABC Labs, trust was cited unanimously as a concern. During the DRF call, we discussed a list of potential RSR trust wins. JMG shared the list here, and you are invited to weigh in with additions, questions, or critiques.
RSR Refresh
A conversation formed around a possible refresh for RSR. Support to drop “Rights” and become Reserve (RSR) was unanimous, but with the caveat that it must be done alongside RSR upgrades, else it could be perceived poorly. One member noted that Maker → Sky was a mess that should be avoided. A few members stressed that if a refresh is done, it must be handled with great care.
DTF & RSR Burn Models
@0xd15co & @0xJMG gave an update on the DTF + RSR burn models. Disco put together a top-down model, while JMG developed a complementary bottom-up version.
Bottom-up model
Inputs: MAU traffic to Reserve front ends, MAU number for DeFi integrations, Wallet holder conversion rates, DTF fees & mint/swap ratio as adoption scales
Benefit: Engages the community and team on execution mechanics “how”, elevating disciplined, high-signal questions.
Hot take: heavier lift, requires core team inputs and customization. Maybe more useful after PMF is established.
Explore and comment on the bottom-up model here: 0xJMG: DTF Revenue & RSR burn
Top-down model
Inputs: TVL multipliers, RSR supply and locked supply, P/S ratio comps (COIN, HOOD, BLK, AAVE, CRV, SKY), DTF fees & mint/swap ratio as adoption scales
Benefit: Builds an improved understanding of supply-and-demand drivers and their RSR price impact.
Hot take: Easier to implement than the bottom-up model with accessible public data. Should be able to complete in Q1.
Sneak peek at the Top-down model:
The DRF agreed to prioritize Disco’s top-down model and discussed the possibility of crafting a grant proposal for him to finish out the work. JMG’s model is on hold as it will require ABC Labs bandwidth to move forward.
Grant Pipeline
We discussed developing the DRF into a grant incubator to help those who want to take the lead on workstreams in the ecosystem get funding. This could kick off a vibrant flywheel of independent contributions. The DRF can help applicants create their proposals and assist with deliverables. If you have a useful Reserve-related deliverable and timeline in mind and would like some help developing it into a proposal, we’d be happy to work with you.
Want to join the DRF?
As a member, we’ll help develop and ship your proposals and DTFs. We’ll also amplify your Reserve-related content. Most importantly, you’ll meet great people and help drive RSR forward. Apply here
Meet the DRF:
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sagixapothecary ('25): Building a DeFi/AI infrastructure index, deeply passionate about inflation,
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rvcryp ('22): Onchain wizard making DTF data talk,
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PostAurum ('22): RSR insight creator, community builder, optimist,
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Braden5668 ('22): Creator @TheSovereignStack: Reserve-focused podcast & deep dives,
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questiondollar ('21): Filmmaker, music producer, in-house Reserve moviemaker,
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Rrranger0 ('21): Entrepreneur and teacher driven by libertarian values,
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Oxd15co ('20): Full-stack developer, dashboard builder, RSR hyperbull,
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zeb_dyor ('20): Decade leading research teams; DeFi fundamentals focus; early INDEX Coop contributor,
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WIWC ('20): Seasoned marketer and creative director,
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blue ('19): Creator @rangatoni, index money maximalist,
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HamDeFi ('19): ETH+ champion, DTF delegate & analytics guru,
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htxao ('19): Strategist interested in helping shape Reserve’s trajectory,
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rationalism2go ('19): Multi-decade emerging markets analyst and portfolio manager for endowments, pensions, sovereign wealth.
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0xJMG ('18): web3 ecosystem growth/governance operator and investments. RSR Health enthusiast.