SentrexCGT

I'm seeing a lot of comparisons between @NetNetCap + @standard_rsv I agree that Standard Reserve is not Robinhood Chain’s first experiment with "reserve currencies" NetNet Capital launched earlier with similar central-bank language, but the two protocols represent different economic models i) NetNet is closer to an onchain reserve fund ii) Standard Reserve is closer to an autonomous monetary economy The Federal Reserve provides the real-world benchmark, although neither crypto protocol has its legal authority, economic mandate or ability to issue sovereign currency... so I've pulled together a comparison table for reference (see screenshot) The most important difference is the relationship between the currency + its reserves: 1) NetNet describes NET as a reserve share. Its emissions formula prevents issuance from reducing backing below one USDG of onchain risk-free value per NET Staking distributions respond to NET’s premium over NAV: - At or below NAV, emissions fall to zero - As the premium increases, the distribution rate rises - At a premium of 1.75x or higher, distributions reach the maximum rate - A standing bid can purchase and retire NET below NAV NetNet currently reports approximately $13 million of onchain risk-free value (predominantly USDG and USDG deployed through Morpho) It also reports a separate RWA Sleeve worth approximately $4 million, containing tokenized equities + other positions; this Sleeve is held in a disclosed manager-controlled Safe and sits outside the core onchain backing calculation 2) Standard Reserve’s assets play a different role STANDARD does not represent a proportional share of its expansion vault, contraction vault, tokenized gold or protocol-owned liquidity The reserves are monetary-policy tools rather than assets that establish a calculable NAV/token This means NetNet can be analyzed using a relatively familiar framework: = [NET price vs NAV, reserve growth & future dilution] Standard Reserve requires a more reflexive valuation: = [STANDARD demand vs emissions, Branch expansion, token burns, reserve accumulation and eventual banker exits] 3) The comparison with the Federal Reserve is therefore "conceptual" The Federal Reserve adjusts interest rates & financial conditions to pursue maximum employment and stable prices across the US economy. Its policy decisions are made by the FOMC using broad economic data Standard Reserve replaces that "committee" with a narrow market signal: net ETH flow through one liquidity pool NetNet replaces it with another market signal: the premium of NET’s market price over its reserve backing All three systems can expand & contract What changes is the objective: 1) The Federal Reserve manages the price and availability of sovereign money 2) NetNet manages the backing and distributions of an onchain reserve share 3) Standard Reserve manages issuance and exit incentives within a closed token economy I'd emphasise that this distrinct objective is essential... The comparison of the "Standard Reserve" as an onchain "Federal Reserve" is a useful headline to enable many to grasp the broad concept But economically, it's a new experiment in using market flows to automate monetary policy that could pave the way for future economic policy onchain So I'd at least pay attention to these new primitives emerging! they could form the foundations of something A LOT bigger... if they don't capture this themselves