ReadyNAS 316 won't recover

Your system has an old BIOS dated 05/23/2013 so you do need to press the O.K. button at the right time to boot off USB.

If it's not working then it suggests one of four possibilities

1. The USB key you are trying is not compatible
2. The USB Boot Recovery key has not been prepared correctly
3. The process to boot off USB is not being followed correctly
4. There really is a problem with the internal flash or other hardware e.g. RAM. This is the least likely possibility imo.

Some USB key models are incompatible. So trying multiple different makes of USB key can be needed.

Be sure to run the tool to create the USB Boot Recovery key as an Administrator (right click on the program in Windows).

In cases like yours where the system has an old BIOS the process to boot off USB is tricky. If you press the O.K. button too soon or too late it will fail to boot off USB.

To boot off USB:

1. Power off the ReadyNAS

2. Plug the USB key into the front USB port

3. Power on the NAS and wait for the touch key LEDs to go off after full brightness (This happens around 5th second after power on).
4. Press and hold the OK button as soon as the LEDs go off (You must be quick here, you can't press sooner because the touch key needs self-calibration, you can't press later, the boot priority will be set within 3 seconds. You don't need to press too hard, but you do need to make sure that the O.K. LED is turned on).

5. Release the OK button once you see "Boot from external USB" shown on the display

6. Wait until the system powers off by itself.

Systems with a newer BIOS automatically boot off a NTGR USB Boot Recovery key on boot without needing to press any buttons other than to turn the NAS on.