6.3 NFT-Based Router Recovery
Every host will be recommended to increase the security of NFT-based routers by setting up a recovery backup. Such a system protects users from accidental wallet access loss or worse - compromising private keys.
NFT routers recovery is enabled by creating additional NFT duplicates and dividing them into 2 groups:
  • One prime NFT (called parent), which is the original NFT router.
  • 5,7,9,11 or higher odd numbers of so-called ‘children’ NFTs, linked to the parent.
All NFTs are transferable and can be freely distributed (Parent NFT retains exactly the same features as it had before, including accumulated, unclaimed rewards and revenues).
In case users accidentally lose access/ ownership to their parent NFT (e.g. due to wallet access loss or theft of parent NFT ID), children can be used to trigger a router restoration procedure.
To do that, user simply needs to gather the majority of children NFT on a single wallet (e.g. 3 out of 5), and then use that wallet to perform metamask login to Wicrypt Network. Account restoration procedures are always accessible directly from the main landing page. Upon clicking it, Wicrypt will check if logged wallet actually meets account restoration prerequisites i.e:
  • Wallet does not have any parent NFT
  • Wallet have majority of children NFTs assigned to the single parent NFT
If the above criteria are met, the user is asked for additional confirmation before running a recovery, and once that confirmation is provided - the product deactivates the previous parent NFT and all of the linked children by putting them on the blacklist.
Smart Contract then mint a fresh package of NFT parent and children.
Upon finalizing the account restoration procedure, the user successfully regains ownership of the NFT router.
NFT router restoration procedure using 1+5 NFT multisig setup
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