TechFlow news, December 19 — Indian cryptocurrency exchange WazirX has released its asset rebalancing and distribution plan, which has been approved by creditors and recognized by the court. The plan consists of four main components: first, net liquid platform assets will be rebalanced to ensure fair value distribution, with an initial token-based distribution to creditors to be made within 10 business days of the plan's effective date.
Second, Recovery Tokens (RTs) will be issued to distribute proceeds recovered from surplus funds, non-liquid wallet assets, and stolen assets. Whenever the net recovery amount available for RT purchases exceeds $10 million, WazirX will offer creditors the opportunity to purchase RTs on a quarterly basis; if the amount is below this threshold, the assessment will be carried forward to the next quarter.
Third, WazirX is evaluating future trading functionality for RTs to provide creditors with additional liquidity options. Fourth, all distribution withdrawals must strictly comply with KYC and risk management requirements to ensure regulatory compliance.
