We’re busy building the foundations for the Recharge ecosystem and thought we’d share some of the upgrades that are coming your way soon.
New to Recharge? A quick overview: Recharge is a cross-chain passive yield token run by volunteers and community members. A fixed supply of 5,000,000 tokens across all chains with a market cap of $130,000 (at time of writing). Available on Binance Smart Chain, coming soon to Polygon and others.
The new version is a 1:1 swap with the R3FI token on BSC. Ethereum holders can either bridge to BSC or wait until V2 returns to the Ethereum chain.
With V2, Recharge becomes more than the easiest way to earn passive yield, it will grow to be a decentralized reserve across many networks with cross-chain yield and an ever increasing treasury of varied assets to back it.
- Optimized yield instantly distributed to your wallet on any supported chain;
- Yield boosting through referrals;
- Fixed supply, unlimited bonding generating additional yield with the DAO treasury;
Optimized yield — yield only goes to token holders or compatible contracts. No burn address to reduce yield, no CEX wallets to accumulate and dump free tokens and no “marketing” wallets taking a cut of all fees.
Fee-less transfers — adding liquidity, fusing with the reactor and more will no longer cost fees.
Referrals integration — rewarding you with a percentage of protocol fees generated by your referrals indefinitely! You will receive 10% of all fees generated by your referrals, with no cap on referrals and carrying over to all future products that support referrals; they are potentially a huge source of rewards.
Compatibility with Uniswap V3 protocols — remaining relevant and functional for years to come is important to the Recharge team.
A new bond market will make it possible to purchase Recharge tokens at a discounted price after a short vesting period with various tokens. Bond market tokens will be generated through the reactors and proceeds from bond purchases will be used for the Recharge Treasury.
The treasury will build up value over time through bond sales creating a diversified locked value floor for the Recharge token. All bond proceeds will remain locked forever unless the community votes for using the proceeds. Unlocked proceeds could be used to buyback tokens off the market — locking them into reactors — or towards marketing and development, etc.
Bonds have become popular with rebase tokens — such as OHM and TIME — however unlike rebase tokens, Recharge has a fixed supply across all networks. Recharge tokens available for bonds are generated from passive-yield derived from the Recharge Reactors.
Unlike OHM and TIME, after bonding there is no need to stake your tokens, with Recharge’s passive-yield, they start earning as soon as they are in your wallet.
Initial bonds will be offered for LP tokens (securing long-term liquidity) and RCORE (reducing the circulating supply and boosting Reactor yield). As demand grows, we can open up bonds to other assets such as Bitcoin, gold, stable-coins and more.
∞ Bonds, 0 Inflation.
Recharge’s passive yield combined with tokens fused into the reactors allows the ecosystem to emit discounted bonds forever with a fixed supply. In a bear market, or periods of increased selling, bonds can continue to be bought at a discounted price increasing the value of the token even if the price drops below the treasury value.
For example, with $1,000,000 worth of assets locked into the treasury, the backing of each token would be $0.20, whether the token price is above or below this, discounted bonds continue to be available and continue to build the treasury.
Won’t the discounted sale of tokens negatively impact the price? With our unique tokenomics, we believe that the incentives to hold far outweigh the immediate benefit of selling. If bond purchasers decide to sell immediately after the vesting period, they will have not only increased the treasury — improving long term stability for the ecosystem — but also generated additional yield for all other token holders — providing an immediate reward to holders.
The main purpose of the treasury is to remain untouched, continuing to accrue value to back the token, but as a community project, the treasury and its assets belong to the community which means it belongs to you. Token holders can create a proposal for using part of the treasury for an exchange listing, marketing, buybacks, etc.
In the future, upgrades to the treasury will allow putting the underlying assets to work with various other protocols. Imagine the combined yield of $OHM, $TIME, stablecoin staking and more being instantly distributed to your wallet, whichever chain you hold on and adding liquidity to the Recharge exchange pools.
The initial V2 release will support Reactors, Zaps and LP staking. The bond market and treasury will be released in Q1.