Recovery RightPrice

(RRT)

RRTs address the distribution of recovered funds from a significant theft that occurred in August 2016, specifically targeting the losses sustained by the Bitfinex Group. Unlike typical Web3 projects solving new problems, RRTs are designed for a specific historical event. Blockchain technology provides a transparent and immutable ledger for these recovery rights, ensuring a clear record of the contingent obligations and the distribution mechanism tied to the recovery efforts. This transparency helps manage the unique claims associated with the past incident.

RRTs operate as "notional credits," with their value directly contingent upon the successful recovery of stolen assets by the Bitfinex Group. They represent a subordinated claim, meaning other claims, like BFX tokens, would be repaid first. If sufficient funds are recovered after prior obligations, RRT holders are entitled to share at a 1:1 rate (US$1.00 per RRT). While a dedicated, detailed whitepaper for RRT isn't prominently cited, its operational mechanics are outlined in official Bitfinex documentation, providing essential information for understanding its function.

RRTs are intrinsically linked with the Bitfinex Group. While Bitfinex is a well-recognized entity in the cryptocurrency exchange sector with a long operational history, specific individuals leading the RRT token as a distinct project are not separately identified. The general credibility of the Bitfinex team in managing a major exchange and handling recovery efforts post-hack forms the basis of trust for RRT holders, rather than a separate Web3 development team. The project leverages Bitfinex's existing infrastructure and expertise.

The total supply of RRTs issued and outstanding was reported as 30,199,822.40 as of November 30, 2016. RRTs were initially distributed as an incentive for holders of BFX tokens who chose to convert them to equity after the 2016 theft. The primary use case for RRT is to receive a share of any funds recovered from the Bitfinex theft, specifically after BFX token holders have been fully redeemed. The Bitfinex Group also retains the option to redeem RRTs at any point.

The "roadmap" for RRTs is inherently different from typical Web3 projects because its purpose is tied to a singular, past event: the recovery of assets from the 2016 Bitfinex theft. Therefore, its future potential is almost entirely dependent on the success and magnitude of ongoing recovery efforts by the Bitfinex Group. Unlike projects building new features or ecosystems, RRT's lifecycle is defined by the eventual resolution of the recovery process, making its future potential directly proportional to the amount of funds successfully recuperated.

The Recovery Right Token is accessible for trading and is listed on exchanges such as LBank, along with potentially other centralized and decentralized platforms. Such exchanges typically perform standard listing reviews to ensure the project meets their criteria for security, liquidity, and overall integrity before making it available to users. This listing presence indicates the token's availability and facilitates its exchange within the digital asset market, contributing to its overall accessibility for interested individuals.