Recover Your Wrecked Trades With Unrektus on Dogechain
Crypto trading isn’t for the faint of heart.
One moment, you’re riding high, convinced you’ve made the right call. The next, the market suddenly shifts, and then, you’re staring at a loss.
It happens to everyone, but most traders are left with nothing but regret. That’s where things start to change. Instead of seeing losses as dead ends, what if they became new opportunities?
What if the crypto community could turn setbacks into something valuable?
That is where Unrektus comes in.
What is Unrektus?
Built on Dogechain, Unrektus is a decentralized protocol that offers profitability where others see failure. It is designed to help traders recover from bad trades and takes a community-first approach.
Unrektus users submit their losses, vote on which submissions deserve compensation, and earn rewards through bribes and strategic engagement.
For the Dogechain community, the protocol boosts engagement with low fees and swift transactions, making it easy to join without breaking the bank.
How Unrektus Works
It all starts with an Unrektus Session, which has two phases: Live and Closed.
Players submit up to five trades where they got wrecked — which is where the term “rekt” obviously originates from. Each trade enters a competition for the winning pot, a pool of funds waiting for the top-voted submission.
You can submit trades from the following:
- Rug pulls and scams.
- Positions liquidated on a leveraged trade.
- Massive unrealized losses like a token that tanked counts.
- Unsuccessful yield farming strategies, like a DeFi farm that wiped out your gains.
As long as the trade shows a clear loss, it can be submitted to compete for the winning pot.
Unrektus’s dApp algorithm can detect (with ease) trades where you incurred losses, and verify you.
To secure votes, you as a submitter have to bring bribes and incentivize voters to back your trade. Voters, holding $uREKT tokens, can decide which submission deserves the winning pot and split the bribes among themselves.
When the session ends, the trade with the most votes wins, and its owner gets fully “unrekt” and airdropped the prize directly to their wallet at the end of that session. Then, users go on about their day, getting ready for the next session by buying it and selling $unREKT.
If your submission does not win, you can continue to participate in future sessions by submitting your trades again. There are zero limits to how many times you can try to get unrekt.
One thing to note: there is a boosting system that allows you to multiply your vote count by paying a fee. When you have a well-timed boost, it can turn the tide, forcing players to think strategically about their bribes and votes.
How Voting Works
Voting power on Unrektus depends on the amount of $uREKT tokens a user holds. Typically, more tokens mean more voting weight, as in:
- 1 $uREKT = 1 voting point.
- 1000 $uREKT = 1000 voting points.
Users can stake $uREKT to vote for a submission. These tokens are then locked till the session ends.
The Unrektus Engine
Unrektus uses a mechanism to analyze a trader’s losses by scanning past transactions. Users can check how many times they have been rekt, only if they link their wallet and click: “How REKT am I?”
Unrektus’s system provides a breakdown of:
- The exact amount lost or gained.
- Assets involved in each losing trade.
- Buy and sell records for transparency.
- Percentages, where the negative indicates losses and the positive show the opposite.
This helps traders understand past mistakes and use Unrektus to turn losses into potential gains.
The Financial Engine Behind Unrektus
Unrektus operates an organized cash flow model that keeps its ecosystem thriving.
Fees vary depending on the blockchain.
- Dogechain Network Fees
- The submission fee is equivalent to 1/20th of the prize pool value.
- Boosting fee bought by the chosen multiplier (2x to 5x), calculated as a fraction of the prize pool.
- Just 5% tax on transactions, taken to keep the system running.
- Sonic Network Fees
- The submission fee is 5% of the prize pool.
- Only 0.5% tax on transactions.
- The higher you boost, the more you pay. Boosting multiplies your votes, and the fee is based on how much you increase them (from 2x to 5x).
While we are still on the financial aspect of the protocol, numbers reflect its success. Launched in 2023, so far, there have been 80+ sessions held, over $1,400 in distributed rewards, $3,000+ total earnings, and over 20 million votes recorded. With more support, Unrektus has huge potential to be a massive loss-recovery crypto project.
Getting Started with Unrektus
- Go to https://app.unrektus.fi and link your wallet.
- Click on “Submit Trade” in the dApp.
- Fill in the token pair, amount of your loss, trade date, and an optional explanation.
- Set a bribe (optional) with $uREKT tokens to attract voter support.
- Review details, approve the transaction, and submit.
- Engage the community on socials to vote for your submission.
Good luck unrekting your losses.
Check out the protocol on the channels below.
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