ReserveLending is a leading protocol for lending and borrowing in the DeFi space, allowing consumer (retail) lenders to supply their tokens and earn interest on it with non-lock clauses, whilst being able to collateralize its placement and borrow other crypto tokens against it. The platform is a fork of the Compound® protocol and is operated by unFederalReserve.
Beginning immediately, ReserveLending will begin paying unFederalReserve a licensing fee from the reserve fund described here: https://unfederalreserve.medium.com/unfederalreserve-announces-a-new-reserve-fund-4cc9f8b9e9ec. The source for the payment and its usage in this manner is consistent with the vision from the outset of the product’s launch. The execution of these open market purchases of $eRSDL for the purposes of tracking and managing ReserveLending’s license is core to the business model. ReserveFunding and the funds that leverage that platform, as well as any other product which comes from the unFederalReserve lab, will equivalently be responsible for making similar license payments.
No action is necessary on the part of the user base, and we will publish a tally of the eRSDL purchased in the open market as soon as it can get scheduled in a future development release. We are excited to implement the open market purchase program and ideate more on the features of our unique Licensing-As-A-Service model.