Deep Tide TechFlow News, on December 19, Indian cryptocurrency exchange WazirX announced an asset rebalancing and distribution plan, which has been approved by creditors and recognized by the court. The plan includes four main components: first, the net liquid platform assets will be rebalanced to ensure fair value distribution, and the first distribution to creditors will be made in token form within 10 working days after the plan takes effect.
Second, Recovery Tokens (RTs) will be issued for distributing 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 offer creditors the opportunity to purchase RTs quarterly; if below this amount, the evaluation will defer to the next quarter.
Third, the future trading functionality of Recovery Tokens (RTs) is being assessed to provide creditors with additional liquidity options. Fourth, all distribution withdrawals must strictly adhere to KYC and risk management requirements to ensure compliance with the process.
