What is Recovery (REC)?

TL;DR

Recovery is a Web3 decentralized crowdfunding protocol that provides a subversive economic model to earn income for users. What started out as a fast-growing community evolved into building onboarding infrastructure and decentralized applications (DApps) to help more people avoid the effects of the recession.

Introduction

The economic recession is already the most serious problem facing the world. Many countries and regions have declared bankruptcy one after another. Sovereign currency has no trust value. Recovery hopes to help users solve the crisis of trust and the impact of currency devaluation through the adoption of Web3.

RecoveryDAO tackles these issues from an educational perspective, encouraging more users to start their Web3 journey. The Recovery Protocol provides a gamification-like interactive experience and incentivized design to achieve mass adoption of Web3.

How Does It Work?

Recovery’s approach has three elements: an innovative circular economic model, a social referral mechanism, and decentralized governance.

Innovative circular economy model

RecoveryDAO provides Web3 users with a circular economic model of crowdfunding, staking, and mining, and promotes large-scale adoption of users through the incentive scheme.

Social referrals

What Recovery defines as “social graph extension,” the team leverages social recommendation mechanisms to grow its community. Users can invite friends to build a new Web3 social graph and make money from it.

Decentralized governance

Every user of Recovery can become a node to participate in the governance of the community. The proposal of the node will be decided by the community members by voting together, and the ownership of Recovery is in the hands of the user.

What Has Recovery Achieved So Far?

Recovery is the first DApp to solve the economic recession. It is planned to be launched in 2023 and is currently one of the most anticipated DApps on the blockchain.

Recovery encourages users to get started with incentivized experiencesa, such as:

• Crowdfunding Incentives
• Social referrals
• Hashrate mining
• Stake dividends
• Lending and financial management

By participating in these applications, users can familiarize themselves with Web3 mechanisms, gain more knowledge and receive cryptocurrency rewards.

What Is the RecoveryDAO Token (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’s Next for Recovery?

Recovery plans to expand its market, community and ecosystem. The Recovery community hopes to enrich and enhance the experience of global users by enriching its content and platform, and innovatively developing socialFi. This includes Recovery’s economic model, where community members can better leverage their social connections and contribute to the growth of the ecosystem.

Recovery has also established a self-sustaining ecosystem based on the flywheel model through crowdfunding and mining mechanisms, where all applications of Recovery will generate more traffic and drive the development of the community.

{If you would like to hear from us and know more about us, please follow our official channels, where you can find the latest news and announcements.}

Document: https://docs.recoverydao.org

Twitter: https://twitter.com/RecoveryDAO

Telegram: https://t.me/RecoveryDAO

Discord: https://discord.gg/recoverydao