Recovery Right Token PriceRRT

What is Recovery Right Token (RRT)?

Recovery Right Token (RRT) is a digital token issued by the Bitfinex Group that evidences a limited-recourse, contingent obligation of the Bitfinex Group. RRTs are notional credits whose value depends solely on the Bitfinex Group's recovery of losses stemming from a specific event. These tokens are subordinated to all other claims against the Bitfinex Group, including claims related to those losses. Recovery, in this context, refers exclusively to the recovery of property taken during the event referenced in the token terms.

As of Nov. 30, 2016, the total number of RRTs issued and outstanding was 30,199,822.40. An RRT entitles the holder to a share of recovered amounts only after all issued and outstanding BFX tokens are redeemed. If sufficient recovery amounts remain after BFX redemption, RRTs are entitled to share at a rate of 1:1, meaning one RRT corresponds to US$1.00 of recovery. If remaining recovery is insufficient, amounts are allocated pro rata among RRT holders. Any recovery exceeding the 1:1 ratio belongs solely to the Bitfinex Group. RRTs may be redeemed by the Bitfinex Group at any time at its sole option, using dollars, digital tokens, or other property at current market values. The token is categorised under Membership and is associated with Real World Assets on CoinMarketCap. The official website is www.bitfinex.com, and the token terms are available at https://www.bitfinex.com/legal/token-terms/rrt.

Key Specifications & Tokenomics

• Name: Recovery Right Token
• Ticker / Symbol: RRT
• CMC ID: 16819
• CoinMarketCap Ranking: #5582
• Launch Date: 2016-10-11
• Industries / Category: Membership; Real World Assets
• Official Website: www.bitfinex.com
• Token Terms URL: https://www.bitfinex.com/legal/token-terms/rrt
• Website Rating (CertiK): 2.3
• Total Supply: 0 RRT
• Circulating Supply: 0 RRT
• Max Supply: Unlimited
• Market Cap: $0
• FDV (Fully Diluted Valuation): $0
• Total RRTs Issued and Outstanding (as of Nov. 30, 2016): 30,199,822.40
• Redemption Rate: 1:1 — one RRT entitles the holder to US$1.00 of recovery after all BFX tokens are redeemed

Who created Recovery Right Token (RRT)?

RRT is associated with the Bitfinex Group and was created in connection with recovery efforts related to property taken during a specific event and the resulting losses. The Bitfinex support article on Recovery Right Tokens is dated May 16, 2017. CoinDesk lists the RRT launch date as Oct. 11, 2016. CoinPaprika states that Recovery Right Token originated in March 2021 when the founding team released its whitepaper outlining the project's vision and technical framework. Detailed public information about individual team members or founders beyond the Bitfinex Group association is currently limited.

How does Recovery Right Token (RRT) work?

RRT operates as a contingent obligation of the Bitfinex Group. Holders of RRT are entitled to a share of recovery only after all issued and outstanding BFX tokens are fully redeemed. The distribution follows a 1:1 ratio: one RRT equals US$1.00 of recovery, half an RRT equals US$0.50, and so on. If the remaining recovery amount is less than what is needed to cover RRTs on this basis, the remaining amount is allocated among RRTs pro rata. Any recovery amounts in excess of the 1:1 ratio belong to and are solely vested in the Bitfinex Group. RRTs may be redeemed by the Bitfinex Group at any time at its sole option, using dollars, digital tokens, or other property at current market values, at the Bitfinex Group's discretion. By holding RRTs, the holder releases and holds harmless the Bitfinex Group from, and waives any claim against, the Bitfinex Group associated with the recovery efforts undertaken as a result of the event and the losses. Any rights, claims, and defences available to the Bitfinex Group under the terms of service at bitfinex.com are expressly reserved.

What makes Recovery Right Token (RRT) unique and valuable?

RRT is unique because it represents a limited-recourse, contingent obligation tied directly to the Bitfinex Group's recovery of losses from a specific event. Unlike typical utility or governance tokens, RRT's value proposition is linked to potential recovery proceeds, with a defined 1:1 redemption ratio after BFX tokens are fully redeemed. The token is subordinated to all other claims against the Bitfinex Group, meaning its value depends entirely on the success of recovery efforts. RRT may be redeemed at any time by the Bitfinex Group at its sole option, adding a layer of discretion to its lifecycle. The token is categorised under Membership and Real World Assets, reflecting its connection to a real-world recovery process. Trading activity has historically been limited, with RRT trading on a small number of active markets. The token reached its highest price on Oct. 10, 2016, at 1.000000 USD, and its lowest price of 0.003110 USD on June 13, 2017, according to TradingView. CoinMarketCap lists the all-time high as Nov. 14, 2024, at $18.94, and the all-time low as Jan. 26, 2022, at $0.0683.

What is Recovery Right Token (RRT) used for?

RRT is used to evidence a holder's right to share in the recovery of losses incurred by the Bitfinex Group, subject to the terms and conditions set out in the token terms. Specifically, RRT holders are entitled to a pro rata share of recovery amounts remaining after all BFX tokens are redeemed, at a rate of 1:1. The token does not confer governance rights, utility functions, or claims beyond the recovery right described. RRTs may be redeemed by the Bitfinex Group at any time at its sole option, using dollars, digital tokens, or other property at current market values. By holding RRTs, holders waive any claim against the Bitfinex Group associated with the recovery efforts undertaken as a result of the event and the losses. The token is traded on a limited number of venues, with the RRT-USD market on Bitfinex being a primary trading pair. RRT is listed under Membership and Real World Assets categories, reflecting its role as a recovery-linked instrument rather than a typical cryptocurrency.

How Is the Recovery Right Token (RRT) ecosystem developing?

The RRT ecosystem is closely tied to the Bitfinex Group and its recovery efforts. CoinMarketCap hosts a Recovery Right Token community section and a Claim Community Badge option, as well as a Do you own this project? Update Token Info / Submit Token Unlocks option. TradingView hosts public chats, Minds, and comments on Ideas for RRT discussion, with community members sharing trading ideas and analysis. Bitget hosts a community price prediction vote (Rise/Fall), with voting data updating every 24 hours. RRT currently trades on 2 active markets according to Yahoo Finance, with the RRT-USD market on Bitfinex being a notable venue. TradingView symbol RRTUSD on Bitfinex is available for charting and analysis. The token's development is inherently linked to the Bitfinex Group's recovery process, and its market activity remains limited compared to larger cryptocurrency projects. Community discussions on TradingView include various trading ideas and technical analyses, reflecting ongoing interest in the token's potential recovery value.

How to mine Recovery Right Token (RRT)?

RRT is not a mined cryptocurrency. It is a digital token issued by the Bitfinex Group as a limited-recourse, contingent obligation, and it does not operate on a proof-of-work or proof-of-stake consensus mechanism. There is no mining or staking process for RRT. Instead, RRTs were issued and outstanding as of Nov. 30, 2016, totalling 30,199,822.40. The token's distribution and redemption are governed by the token terms set out by the Bitfinex Group. RRTs may be redeemed by the Bitfinex Group at any time at its sole option, using dollars, digital tokens, or other property at current market values. Holders do not participate in block validation or network security. The token is categorised under Membership and Real World Assets, and its value depends on the Bitfinex Group's recovery of losses. There is no mining equipment, staking requirement, or validator participation associated with RRT.

How to keep your Recovery Right Token (RRT) Coin safe?

Keeping RRT safe involves standard cryptocurrency security practices. Since RRT is associated with the Bitfinex Group and trades on a limited number of markets, holders should ensure they use secure wallets and enable all available security features when accessing trading platforms. RRTs are digital tokens that evidence a limited-recourse, contingent obligation, and holding them means releasing and holding harmless the Bitfinex Group from, and waiving any claim against, the Bitfinex Group associated with the recovery efforts undertaken as a result of the event and the losses. Holders should carefully review the token terms at https://www.bitfinex.com/legal/token-terms/rrt to understand their rights and risks. Because RRTs are subordinated to all other claims against the Bitfinex Group, including claims related to the losses, and may be redeemed at any time at the Bitfinex Group's sole option, holders should consider the unique risks associated with this token. Using hardware wallets where supported, avoiding sharing private keys, and verifying official URLs are recommended practices. Always conduct independent research and consult the official Bitfinex website for the most accurate and up-to-date information.