Money is always losing value. From 2020 to 2024, consumer prices rose 20–30% in most developed countries, and at least three national currencies — the Turkish Lira, Argentine Peso, and Venezulean Bolivar — crashed over 80%.

Those building the Reserve protocol believe we can do better. By bundling assets and using them as money, Reserve enables a new type of inflation-resistant money: asset-backed currencies, or “RTokens”.

Today, over $200M in RTokens have been minted on Reserve, and anyone is free to use them. So, how do you get started?

This guide explains how to start using savings-like RTokens and, if you’re interested, how to earn more with Reserve. The guide is divided into 3 tiers:

• Beginner: Depositing via fintech app
• Intermediate: Minting RTokens on the blockchain
• Advanced: Staking RSR to secure RTokens and earn more

Beginner: Deposit via fintech app

Currently, the easiest way to earn RToken yield is to use the UGLYCASH app. UGLYCASH is a banking and payment app that allows users to earn RToken yields through their UGLYCASH Earn feature. If it’s available where you live (U.S. and Latin America¹), you can get started with just a few steps.

UGLYCASH Earn: a simple app interface for RToken yield

For U.S. users:

1. Download the app from your device’s app store (Apple App Store, Google Play).
2. Create an account. Verify with your phone, click “Start banking now!”, and follow the prompts to choose a username, register your email address, and verify your identity and location.
3. Add funds. Click “Add funds” to transfer money into your Ugly Cash checking account.
4. Connect your bank account. Follow the prompts to connect your account using Plaid.
5. Deposit into UGLYCASH Earn. Click “Add money” under the UGLYCASH Earn tab to start earning interest using RTokens under the hood.

For Users in Latin America:

1. Download the app from your device’s app store.
2. Create an account. Verify with your phone, click “Submit your info now,” and follow the prompts to choose a username, register your e-mail address, and verify your identity and location.
3. Add funds. Click “Add funds,” choose how you’d like to deposit, and follow the prompts. Currently, there are 4 deposit options: – Deposit stablecoins from Tron (USDT), Ethereum (USDC or DAI) or Base (eUSD, hyUSD or USD3) – Deposit via local bank transfer (only in MX) – Receive money from LATAM or some US states via P2P or Sobrecito (Transfer Link). – Open a virtual account to receive ACH/wire transfers from the US. Click “US Bank” in the home screen and follow the prompts ($5 minimum deposit required).
4. Earn yield automatically once your funds are received.

Congrats! You’re now officially preserving your purchasing power with asset-backed currencies. You can always retrieve your funds by withdrawing from UGLYCASH Earn and into your bank account with the “Withdraw” button.

Intermediate: Mint RTokens on the blockchain

You can also mint RTokens directly on the blockchain using Ethereum, Base, or Arbitrum. This route requires some setup (see DeFi Rate’s new user guide), but opens up more possibilities, like selecting specific RTokens and using them throughout DeFi.

Mint RTokens with one transaction at https://app.reserve.org/

RTokens can be minted on Ethereum mainnet, Base, or Arbitrum by following the steps below:

1. Connect to Reserve Register Dapp. Connect your wallet at https://app.reserve.org/
2. Choose an RToken. Click “Browse” to compare or the “RToken” dropdown to choose directly. If you choose an RToken on another chain, your wallet should prompt you to switch networks. To earn interest on dollar stablecoins, check out USD3 or hyUSD (mainnet, Base).
3. Navigate to the “Mint” page using the vertical menu to the left.
4. Mint the RToken. Choose an asset to pay with in the “You use:” box. Enter an amount to pay, and check how many RTokens you’ll receive in the “You receive:” box. If you’re satisfied, click the “Zap Mint” button.
5. Approve and execute the transaction using your wallet. Once the transaction is confirmed, the minted RTokens will be available in your wallet.

Done! RTokens in your wallet will automatically accrue interest and can be used throughout DeFi to earn more. To withdraw, you can exchange for common assets using the “Redeem” tab on the “Mint” page.

Advanced: Stake RSR to secure RTokens & earn more

Reserve Rights (RSR) is the Reserve protocol’s governance token. It can be staked on individual RTokens to earn yield in exchange for governing RTokens and providing first-loss capital in case of depeg. Whenever you unstake, there is an unstaking delay (typically 2 weeks) to prevent potential abuse.

Example staking interface on https://app.reserve.org/

Staking RSR can help you preserve purchasing power through additional yield and direct input into RToken governance decisions (e.g., which collaterals to on- or off-board). Staking RSR gives you a stake in an RToken’s future. RSR can be staked on any RToken as follows:

1. Purchase RSR from your preferred exchange (see all markets on CoinMarketCap).
2. Connect to Reserve Register Dapp. Connect your wallet at https://app.reserve.org/
3. Choose an RToken. Click “Browse” to compare or the “RToken” dropdown to choose directly. If you choose an RToken on another chain, your wallet should prompt you to switch networks. Your RSR will have to be on the same network, so be sure to purchase or bridge it there.
4. Navigate to the “Stake” page using the vertical menu to the left.
5. Stake your RSR. Choose how much RSR you’d like to stake in the “You stake:” box. Check how much staked RSR you’ll receive in the “You receive:” box. If you’re satisfied, click the “Stake RSR” button.
6. Approve and execute the transaction using your wallet. Once the transaction is confirmed, the staked RSR will be available in your wallet.

Congrats! You’ve now delved one step deeper into the Reserve ecosystem. Staking interest will automatically accrue to your staked RSR, and you can initiate unstaking on the “Stake” page. You can monitor governance proposals on the Reserve Forum and vote or create proposals under “Governance” on each RToken’s page.