WazirX Announcements

📢 We have received several questions from the community regarding the Rebalancing Calculator. Below is the answer to one of the most common queries:

Q 1. Why does the quantity of Tokens go up and down, even when 52% of Tokens are allocated?

Ans. The quantity of tokens changes as the total value of the portfolio fluctuates. When the prices of individual tokens rise or fall, the number of tokens we need to purchase during the rebalancing process to maintain the portfolio's value is affected.

For example, if we currently have a $390 million unbalanced portfolio, after rebalancing, we will still have a $390 million balanced portfolio, but the distribution of tokens may vary based on market prices. So, if prices increase, the quantity of tokens may decrease, and if prices decrease, the quantity of tokens may increase.

For more detailed answers to additional FAQs, please read our updated blog here 👉 https://wrx.gg/rcfaqs

Thank you for your continued patience and support 🙏

Here's a short video explaining how the Rebalancing Calculator works 👉 https://www.youtube.com/watch?v=qzewNsUJJkY

📢 Introducing the Rebalancing Calculator!

With the Rebalancing Calculator, you will be able to see how Liquid Assets will be rebalanced to reflect the token denominations in each Creditor’s platform balance. Future updates will demonstrate how Creditors can benefit from potential market price gains on their rebalanced tokens.

Access the Rebalancing Calculator here 👉 https://wazirx.com/rebalancing-calculator

📢 Fourth Townhall Announcement

In this Townhall, we will introduce the new Rebalancing Calculator and discuss other value drivers that are being explored as part of the restructuring efforts.

🗓️: 6th November 2024 at 5:30 PM IST
🕠: Set a reminder 👉 https://www.youtube.com/live/NfU7Yruatdo?si=0IXWZ_cGfyj3Pj5C

📢 Introducing the Scheme Timeline Calculator

The Scheme Timeline Calculator is an interactive tool designed to guide you through each step of the restructuring process. It enables users to explore scenario-based timelines and keep track of essential dates. While WazirX is dedicated to progressing as quickly as possible, certain phases depend on Singapore court schedules, particularly during the holiday season. This tool enhances transparency, keeping you well-informed throughout the journey.

Access the Calculator here 👉 https://wazirx.com/scheme-timelines

📢 Scheduled maintenance is now completed.

Thanks for your patience 🙏

📢 Scheduled Maintenance

We will be undergoing scheduled maintenance for a system upgrade from 10 PM IST on 28th October to 3 AM IST on 29th October. Please note that all services will be unavailable during this period.

Thank you for your support 🙏

📢 Proof of Reserves is now live

In line with our commitment to transparency, you can now verify wallet addresses and review asset balances through our Proof of Reserves.

Click here 👉 https://wazirx.com/proof-of-reserves

Note: A Proof of Reserves dashboard with dynamically updated data by CoinGabbar (a renowned platform for tracking crypto assets) will be available soon.

For more details, please read the blog 👉 https://wazirx.com/blog/wazirx-publishes-proof-of-reserves-for-october-2024/

📢 Disclosure of 240,000+ wallet addresses pursuant to debt restructuring process

At WazirX, we’ve always believed that transparency is key to building and maintaining trust with our users. Today, we’re taking another step forward in that journey by sharing something important, an affidavit that includes the details of approximately 240,000 wallets with balances. This affidavit will be filed with the High Court of Singapore today as directed and will also be provided to creditors in the ongoing restructuring of Zettai Pte Ltd.

For more details, please read the blog 👉 https://wazirx.com/blog/disclosure-of-240000-wallet-addresses-pursuant-to-debt-restructuring-process/

Here's how the Committee of Creditors (COC) will be fairly formed to represent creditors' interests in the restructuring process.

📢 Third Townhall Announcement

Join us to learn about the formation of the Committee of Creditors (COC) and its roles and responsibilities in the restructuring process.

🗓️ 4th October 2024 at 1:30 PM IST
🕜 Set a reminder 👉 https://www.youtube.com/live/CzOm_nM3UeY?si=svI5aOipCvggBl9k

📢 Formation of Committee of Creditors (COC)

We're in the process of forming a Committee of Creditors (COC) to represent creditors' interests in the proposed restructuring of Zettai Pte Ltd. The COC will play a critical role in providing feedback, monitoring progress, and facilitating communication between creditors and the company.

Here are answers to a few key questions:

1. What is the COC's purpose?
The COC will represent creditors and act as a consultative body to provide feedback on the restructuring process.

2. How will COC members be selected?
COC members will be chosen based on a transparent selection process, ensuring fair representation across creditor pools.

3. What are the roles and responsibilities of COC members?
COC members will represent all creditors, attend meetings, and provide input on creditor preferences, progress, and restructuring.

For full details on the COC formation process, please read the blog 👉 https://wazirx.com/blog/announcement-formation-of-a-committee-of-creditors/

📢 WazirX Granted Four-Month Moratorium by Singapore Courts

In a crucial decision, the Singapore courts have granted WazirX a four-month moratorium, affirming the company's compliance with the legal and procedural requirements under Section 64 of the IRDA. This decisive court ruling highlights WazirX's commitment to act swiftly and responsibly in the interests of all stakeholders.

The court noted that from the onset of the proceedings, WazirX has actively engaged with creditors. The court acknowledged WazirX’s prompt response in filing for the moratorium. This action paves the way for the fastest, creditor-approved, and legally binding resolution to restore crypto balances, ensuring a fair and timely outcome for all stakeholders.

As part of the court's conditions, WazirX will make wallet addresses public via a court affidavit, respond to user queries raised in the courtroom, release financial information, and ensure future voting for court applications is scrutinized by independent parties.

The court has recognized WazirX’s proactive steps and our dedication to formulating a quick and effective scheme of arrangement. We are working diligently with our advisors and stakeholders to develop a comprehensive plan that addresses the needs of parties involved. WazirX appreciates the court's trust and confidence in our actions.

WazirX will continue to provide updates on our progress and further developments. We are steadfast in our commitment to resolve this matter efficiently and equitably 🙏

Watch this 👉 https://youtu.be/dbvQK4CSS_g?si=NCCTZywg_UVqsh4p

In an effort to simplify things, we've addressed one of the most frequently asked questions in this video: How does the Moratorium Process work?

Watch this 👉 https://youtu.be/HD6RygEDQDs?si=Tqo4xqjRXg3jvJq3

📢 Second Townhall Announcement

Join us at the Townhall to discuss the draft restructuring proposal and for a walk through and explanation of the worked examples.

🗓️ 16th September 2024 at 3:30 PM IST
🕞 Set a reminder 👉 https://www.youtube.com/live/GRllabwqit0?si=KVlVwF-3psqm44H2

📢 We’ve heard your feedback and are enhancing the options for supporting our Moratorium Application.

In addition to “Yes, I support,” we’ll soon introduce options for “No” and “No Position.”

More details will be shared shortly. Thank you for your continued engagement 🙏

We've received many questions around the Moratorium Application. In this blog, we have updated the FAQs section with relevant answers. We'll continue to update this blog with answers as we receive more questions.

Read here 👉 https://wazirx.com/blog/wazirx-moratorium-application-filed/