Resolv Labs has begun the airdrop of its governance and rewards token, RESOLV

Users with registered wallets can claim their RESOLV tokens until June 27.

Decentralized stablecoin protocol Resolv has announced that the airdrop of its governance and rewards token, RESOLV, has begun.

According to a Monday announcement, users with registered wallets can claim their RESOLV tokens until June 27.

Eligible wallets must pass a “light sanctions screen” before claiming tokens, and the Resolv Foundation has reserved 10% of the RESOLV token supply for the airdrop.

RESOLV will enable holders to vote on collateral mixes, share fee revenue, and unlock higher yield tiers, Resolv Labs said in a Medium post.

The Resolv protocol has two other tokens: Stablecoin USR and RLP, a token for the Resolv Liquidity Pool, which serves as an overcollateralization insurance fund that backstops the dollar peg of USR.

While USR does not offer yield, it can be staked for stUSR, which currently yields 11%. The riskier RLP carries a higher yield of 18.3%.

The Resolv protocol had $422 million in total value locked (TVL), with $258 million in USR and $164 million in RLP, according to Dune Analytics.

Resolv Labs describes its stablecoin as “an interest‑bearing USDC — minus the opaque middlemen.”

USR uses a delta-neutral hedging approach to maintain its dollar peg. Fully backed by Ether, Resolv buys ETH while simultaneously taking a short position on it to hedge against price fluctuations and generate yield for stUSR holders.

USR has a market capitalization of $258 million. Sector leader Ethena’s USDe, which works in a somewhat similar manner but without an insurance token like RLP, has a market cap of $5.2 billion.