Recovery Right Token

Built on the Bitfinex platform, Recovery Right Token (RRT) is a digital token evidencing a limited-recourse, contingent obligation of the Bitfinex Group. RRTs are notional credits that are solely dependent on the Bitfinex Group's recovery of Losses sustained during a theft in August 2016. This token was initially created as an incentive for BFX token holders converting to equity.

The key technical feature of RRT is its contingent obligation, which means that it has no inherent value unless and until the Bitfinex Group recovers some or all of the Losses. In this scenario, RRT holders would be repaid first, followed by any remaining bitcoins being distributed among them. This unique design differentiates RRT from other tokens in the space.

RRT provides value to its holders by offering a potential claim on recovered assets in the event of a successful recovery of the 2016 theft. The token's utility lies in its ability to provide a financial incentive for the Bitfinex Group to recover the Losses, thereby benefiting RRT holders. This token is particularly relevant to those who were affected by the 2016 security breach and are still waiting for their assets to be recovered.

The Recovery Right Token (RRT) has been issued in conjunction with the Bitfinex Group's efforts to recover the Losses sustained during the 2016 theft. While there is limited information available on the token's development activity or community size, it is clear that RRT is an integral part of the Bitfinex Group's recovery efforts.

The Recovery Right Token (RRT) has been issued in conjunction with the Bitfinex Group's efforts to recover the Losses sustained during the 2016 theft. As of April 03, 2017, all outstanding BFX tokens have either been converted to equity or redeemed, and RRT holders are now waiting for any potential recovery of the stolen assets.