WazirX founder announces asset distribution will be in crypto tokens based on users’ holdings.
Users can calculate their claims using the Rebalancing Calculator.
The restructuring plan aims to resolve outstanding debts and maximize value for users and creditors
In a tweet earlier today, Nischal Shetty, founder and CEO of WazirX, India’s embattled crypto exchange, revealed a key detail of the company’s ongoing restructuring efforts. Shetty confirmed that WazirX will distribute assets to users in crypto tokens, not fiat or stablecoins.
WazirX’s Distribution Plan
Pending approval of the proposed restructuring scheme, users will receive a proportional share of liquid assets based on their token holdings as of July 18, 2024. The plan addresses outstanding creditor claims and ensures distributions match users’ holdings on that date.
“Distribution will be in tokens (as currently visible in your portfolio),” Shetty tweeted. He emphasized that the company’s long-term goal is to “bring back maximum value” for users and creditors.
According to the FAQ posted alongside Shetty’s tweet, users will be able to calculate their expected claims using the …
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