BASICS

What is Recovery？

Recovery is a decentralized crowdfunding protocol driven by the community. In order to consolidate the value of its token REC, the DAO continuously destroys the deflationary token through the protocol, so that it still has intrinsic value to support it even if it falls. Recovery brings unique economic and game theory dynamics to the market through staking and crowdfunding.

What is REC？

REC is the only token issued by RecoveryDAO. Recovery’ goal is to create a credible value asset for Web3 and to help onboard users into a decentralized, democratized economy, with the additional goal of becoming the reserve currency for DeFi, which is one of the ways we can achieve economic recovery.

What are reserve currencies designed to achieve?

• Preserving purchasing power: Over the medium- to long-term the asset grows to out-pace inflation, and becomes more stable over time

• Deep liquidity: Reserve currencies are highly liquid and can be easily exchanged for other assets, products and services

• Utilized as a unit of account: Other assets are denominated in the currency

• Reserve assets serve as trusted backing:The currency is viewed as reliable and relatively low risk, which encourages entities to hold large quantities of it in reserve

What is the meaning of RecoveryDAO's existence?

Our goal is to establish a policy-controlled currency system, through a high-level DAO to control the operation status of REC tokens, and to protect all members of RecoveryDAO from the impact of economic recession. From a long-term perspective, we believe this monetary system can optimize the stability and consistency of REC, allowing REC to become an international unit of account and medium of exchange. In the short term, we intend to continue to grow and create wealth by optimizing this monetary system.

How to participate in Recovery？

Recovery mainly provides two strategies for participants to use: staking and crowdfunding. Pledgers pledge their REC-USDT LP to obtain ecological dividend income, while crowdfunding participants help to burn REC tokens through a decentralized protocol, thereby obtaining contribution rewards set by the protocol. Those who want to participate in governance together can join the community discord. We welcome new members to join and contribute to Recovery together!

Who created Recovery?

Recovery is built by a distributed pseudo-anonymous team.

Who runs Recovery?

Nobody. Recovery is governed by the DAO, so all decisions are discussed by community members in the Discord community, and after the proposal is proposed, the nodes jointly vote to decide.