Reservoir

CDP

Reservoir is a stablecoin protocol offering rUSD, srUSD, and trUSD, stable assets designed for liquidity, yield, and term-based returns. It integrates real-world assets to deliver consistent yields and scalable, trusted solutions for the future of DeFi.

Risk Rating

Average

Protocol Code Quality

Protocol Maturity

Protocol Design

What is Reservoir?

What it means for you

Reservoir is part of the new wave of stablecoin projects experimenting with real-world asset backing and yield distribution. It’s worth understanding if you’re researching where stablecoin design might be heading, but it’s not yet a plug-and-play option for everyday DeFi users.

What we like

Reservoir aims to address many common issues found in current stablecoins by combining multiple collateral types, both digital and real-world, to support its tokens. The protocol’s approach to yield and diversification seeks to create a more balanced and scalable stablecoin system.

What we like less

While the design is ambitious, much of Reservoir’s model depends on effective collateral management, integrations, and sustainable yields across market cycles. The system’s complexity, multiple tokens, and evolving governance may be challenging for new users to follow.

Information

Exploit/Hacks

None

Documentation
Auditors
- Audits
Please see our FAQ on experienced auditors

Info

Website
Tags: CDP

Key Metrics

TVL: $83.3M (Rank #143)
TVL Ranking by CDP: #3
Blockchain: Ethereum, Ethereum, Berachain
Chain TVL
- Ethereum: $83.31M
- Ethereum: $36.5M
- Berachain: $0

Risk Assessment

Average

Protocol Code Quality

Code reviewed by at least one experienced auditor
Public team promotes accountability
No documented protocol hacks since launch

Protocol Maturity

Latest protocol version launched in 2024; maturity over six months reduces technical risk as smart contracts are moderately battle-tested
Top 5% by total value locked reduces risk
Multisig wallet controls protocol upgrades
Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
No governance token and/or contracts are fully immutable

Protocol Design

Isolated markets enable asset risks to be contained to each individual pool without impacting the entire protocol
Robust controls in place to prevent risky borrowing
Solid mechanisms in place to ensure healthy liquidations
Solid methods to accrue protocol reserves

Things to know about Reservoir

What is Reservoir

Reservoir is a decentralized stablecoin protocol built on Ethereum. It supports a family of tokens, rUSD (its base stablecoin), srUSD (a liquid, yield-bearing version), and trUSD (a term-based version). Each is designed to maintain stability while generating yield from a mix of crypto and real-world collateral, such as tokenized Treasury assets. The goal is to create a stablecoin that can scale beyond crypto markets and be usable across DeFi and traditional financial integrations.

How Reservoir makes money

The protocol earns from the yields generated by its underlying collateral, for example, returns from tokenized U.S. Treasuries or other yield-bearing assets. These returns help sustain the system, support rUSD’s yield versions, and may fund ongoing protocol operations.

How you make money on Reservoir

Users can hold srUSD or trUSD to earn yield from the collateral backing the system. The specific rates depend on the assets in reserve and market conditions. rUSD itself is meant to stay stable and liquid, while srUSD and trUSD offer options for users who want exposure to yield with different levels of liquidity and duration.

Reservoir Pools

Reservoir USD Staking

srUSD

13.3%

Yield

$288M

TVL

Risk

Protocol

Reservoir