[throwaway4good]

What is it running on top of (Ethereum, its own blockchain)? Is it similar to MakerDAO?

[tornato7]

If it's running on Ethereum then users will see $5-20 transaction fees and >20 second transaction times. That's not a great experience for first time users

[fbrusch]

It is now possible to use so called layer 2 (L2) solutions like zkrollups, considerably reducing fees and increasing throughput (https://vitalik.ca/general/2021/01/05/rollup.html). Loopring is already functioning on mainnet. (https://loopring.org)

[max_]

Its on Ethereum (guessing from the metamask client).

It's nothing fancy its like an SDR for cryptocurrencies[0]

[0]:https://en.m.wikipedia.org/wiki/Special_drawing_rights

[isaacimagine]

> Initially we are developing on the Ethereum Network but ultimately we expect two-way bridges to enable complete interoperability of the Reserve token across all major smart contract platforms.

[throwaway4good]

Then it would be very similar to MakerDAO?

[krzkaczor]

Yes, in principle it looks very similar to MakerDAO but I think some details are different.

For example DAI is pegged to one USD to make it as useful as possible but "The Reserve token will initially have a target value of $1.00, but is designed to go off of the peg from the US dollar in the long term.".