On Friday March 10, 2023, Circle's stablecoin USDC depegged on news that it had a portion of its reserves deposited in the failed Silicon Valley Bank. Reserve's first RToken, eUSD, which was backed partially by USDC thus experienced its first collateral default. This POAP commemorates the noble RSR stakers whose valiant efforts helped re-collateralize eUSD in defence of its peg.

Holders of this POAP are granted entry to this staking gathering at ETHDenver on 1 March 2023 Event: Hear me out: we're gonna go to a bar. Some of us are going to have drinks. Some will choose to drink green tea with a bit of red wine in it. We'll probably say some things about staking to each other. We'll walk away with new friends and new enemies to discuss more things about staking ETH in our staking chat channels and subreddits. We might even come away with some new ideas on how to do that thing we all want: decentralize the network even more.