The whole concept of staking in terms of cryptocurrency, comes in many many forms, we have staking which involves staking to secure a network,we have staking which relies on others carrying out transactions and also staking for interest.

During the design of RCVR, I wanted to ensure that the investors of the token have a viable and profitable way to get rewards, whilst being safe an transparent. How can RCVR be as profitable as possible for the investor WITHOUT a risk to their funds. I believe friction-less staking is the answer..

Friction-less staking is staking that does not require the users RCVR tokens to me transferred to a staking pool, they remain in the users wallet, all that is needed is to register the intended amount in which ever stake pool they with to receive “dividends”. This leaves the users the ability to use them to provide liquidity or sell them (See below on rewards).

  1. The user migrates from RFY(Initial rugged token) to RCVR at a 10% ratio, so 2000 RFY = 200 RCVR.
  2. The user then heads to the recovertoken website and has two staking pools to utilise. They decide to stake 200 RCVR in the safe Pool AND stake 200 RCVR in the risky pool. The RCVR is NOT withdrawn from the users account. It remains in their wallet. During the automated rebase processes the user will accumulate rewards with these tokens, based on structures defined in the white paper.
  3. The user now has the choice of two further options:
  • HODL their tokens in their wallet. Sell if the price goes up. They STILL will accumulate rewards. However they need to have RCVR in their wallet to claim rewards ( See below)
  • Use those tokens to provide liquidity to RCVR on Uniswap.

4. The User is now getting profit from three avenues. Both staking pools and also via liquidty. The user can also SELL their tokens if they wish, however here are the “rules” for frictionless staking:

  • The user can stake as much RCVR in each pool, provided they ACTUALLY have the RCVR in their wallet at the time of adding/creating a stake. Thats self explanatory.
  • In order to withdraw their rewards, they have to have RCVR in their wallet equal or greater to the current amount they have staked in each pool . So if they have 10000 staked in the safe pool and they are claiming rewards, but they only have 500 RCVR in their actual wallet it will not succeed. This again is to ensure no vectors of attack and ensure the funds retrieval are valid.

Once again, we are aiming to make this a token which users can call on to get some value back from their rugged tokens. With the advent of frictionless staking, we hope this goes someway to win over the trust of the community!

RecoverToken is an ERC20 token, designed by the community for the community,featuring staking and migration from rugged/scammed tokens.