RSR tokenomics come down to a fixed 100 billion maximum supply, about 62.5 billion tokens in circulation, a large treasury that governance controls, and a monthly burn funded by Reserve Protocol fees. As of October 2026, holders also vote each quarter on how many treasury tokens can be unlocked against how many are burned, and a pending proposal would destroy roughly 30 billion RSR outright.
That combination makes Reserve Rights (RSR) unusual among governance tokens. Most projects publish a vesting calendar and stick to it. RSR's future supply is decided by votes, and those votes have so far leaned toward burning.
RSR Supply in October 2026
| Metric | Figure | Note |
|---|---|---|
| Maximum supply | 100 billion RSR | Fixed in the token contract |
| Circulating supply | about 62.5 billion | CoinGecko, early October 2026 |
| Non-circulating | about 37.5 billion | Mostly treasury and project-held tokens |
| Burned through August 2026 | more than 125 million | Fee-funded buy-and-burn since May 2025 |
| Pending treasury burn | about 30 billion | RFC-1269, not yet approved |
| Price | about $0.0017 | Market cap near $107 million |
The figure that matters most is the non-circulating 37.5 billion. It is larger than many tokens' entire supply, and how it reaches the market (or doesn't) shapes RSR more than anything else on the list.
How the Monthly Burn Works
The burn is tied to Index DTFs, the basket tokens that make up most of Reserve's recent growth. According to the Reserve documentation, each Index DTF charges a mint fee below 1% and an annual TVL fee below 5%, paid by minting new DTF shares. The process then runs in a loop:
- Fees accrue as new DTF shares, and the platform's share is taken first.
- Those shares are converted into dollars.
- The dollars buy RSR on the open market.
- The purchased RSR is sent to a null address, permanently removing it from supply.
Monthly burns in 2026 ranged from about 3.9 million RSR to 16.3 million RSR, with August's 16.3 million the largest so far. The cumulative total passed 125 million RSR, worth about $182,000 at the time of each burn. That is the honest scale of the program today: steady and growing, but small next to a 62.5 billion float.
The Burn Gauge: Holders Set the Unlock Ratio
Fee-funded burns only cover half the supply story. The other half is the treasury, and in 2026 the community moved its release under direct holder control.
The milestone framework
From August 27 to September 3, 2026, RSR holders voted on a revised plan for unlocking treasury tokens. The plan discussed in the Reserve forum ties any release of new RSR to protocol performance, including a revenue milestone, so that unlocks follow growth instead of a fixed calendar.
The first quarterly vote
The Burn Gauge itself opened on September 18, 2026. Holders ranked five settings, from "High Burn," which adds no new supply, to "High Growth," which releases more treasury tokens for every RSR burned. When voting closed on September 25, 86.27% chose High Burn. The result for the quarter: zero unlocks, plus treasury burns at four times the fee-funded amount, worth about $295,000.
The vote repeats every quarter, so the outcome can change. A protocol that needs to pay contributors or fund growth may eventually ask holders for a more balanced setting.
RFC-1269 and a 70 Billion Cap
RFC-1269 is the biggest proposal on the table. It would burn approximately 30 billion RSR from the treasury, cutting the maximum supply from 100 billion to around 70 billion, and it pairs the burn with a vote-escrow model (often called veRSR) that rewards holders who lock their tokens for longer.
The proposal was still under discussion in October 2026, with no confirmed vote date. If it passes, the immediate effect on circulating supply would be close to zero, because the tokens being burned are already out of the market. The real change is to future dilution: a smaller treasury means less potential selling later, and long locks would take additional tokens out of the tradable float. How analysts price that scenario is covered in our RSR price prediction.
Where Demand for RSR Comes From
Supply only tells half of the tokenomics story. Demand for RSR currently has three sources: buybacks from fees, stakers who back Yield DTFs as first-loss capital, and holders who vote-lock RSR to govern Index DTFs. Each one removes tokens from active trading for a period of time.
The weak point is scale. Reserve Protocol held about $39.5 million in total value locked in early October 2026, so fee-driven demand is limited until DTF assets grow. Programs like this one resemble other crypto token buybacks, which tend to move prices only when the purchases are large relative to supply and trading volume.
Frequently Asked Questions
Is RSR deflationary?
RSR is currently net deflationary because the High Burn setting allows no treasury unlocks this quarter while monthly burns continue. That can change, since holders vote on the unlock ratio every quarter.
What is the max supply of RSR?
The maximum supply of RSR is 100 billion tokens. If RFC-1269 passes, roughly 30 billion would be burned from the treasury, lowering the effective cap to about 70 billion.
Who controls the RSR treasury?
The RSR treasury is managed by the project's contributors under rules set by RSR governance. Unlock plans and the Burn Gauge setting are decided by holder votes.
Why Supply Votes Matter More Than the Burn Rate
The monthly burn is the visible part of RSR's tokenomics, but the treasury votes carry more weight. A single quarterly decision on the 37.5 billion non-circulating tokens can outweigh years of fee-funded burns at today's pace. Holders who follow RSR closely watch the Burn Gauge calendar and the RFC-1269 debate as closely as the price chart.
When those votes land, you can act on the RSR/USDT spot pair or trade the reaction with leverage through RSR perpetuals on LeveX. To compare RSR's model with other tokens, explore Crypto in a Minute.