ChainCatcher news, Indian cryptocurrency exchange WazirX has released an asset rebalancing and distribution plan, which has been approved by creditors and recognized by the court. The plan includes four main points: firstly, net liquid platform assets will be rebalanced to ensure fair value distribution, and within 10 working days after the plan takes effect, the first distribution will be made to creditors in the form of tokens.
Secondly, Recovery Tokens (RTs) will be issued for the distribution of subsequent recovery amounts from surplus, illiquid wallet assets, and stolen assets. When the net recovery amount available for purchasing RTs exceeds $10 million, WazirX will provide creditors with an opportunity to purchase RTs quarterly; if below this amount, it will be deferred to the next quarter for evaluation.
Thirdly, the future trading functionality of RTs is being evaluated to provide creditors with additional liquidity options. Fourthly, all distribution withdrawals must strictly adhere to KYC and risk management requirements to ensure compliance with the process.