As a seasoned analyst with years of experience in the cryptocurrency market, I have witnessed numerous ups and downs, triumphs, and setbacks. The situation at WazirX, a platform I have followed closely, is indeed intriguing. The upcoming town hall discussion on November 6 promises to shed some light on the rebalancing calculator and the restructuring efforts.
On November 6, WazirX exchange leaders are planning to hold their fourth town hall meeting featuring Nischal Shetty. During this session, they aim to clarify the workings of the rebalancing calculator for their community of over 4.4 million users. Previously, WazirX unveiled a timeline calculator, informing their users that the redistribution of funds won’t start until as late as February 2025.
The upcoming fourth townhall meeting holds significant importance because users are eagerly anticipating a response from Wazirx regarding the compensation plan, following the Rs 2000 crore hack which has put the exchange in a financial shortage.
In a short while, we’ll have our live townhall meeting where WazirX is planning to unveil their brand-new rebalancing calculator and delve into the timeline for their interactive scheme calculator. They will also share insights about other potential factors they are investigating as part of their ongoing restructuring initiatives.
📣 Here’s my Fourth Townhall Update, written from the perspective of an analyst:
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) November 5, 2024
Earlier this past October, the platform launched a Restructuring Timeline Calendar, designed to help users navigate the schedule of the reorganization process, and announced that they anticipate distributing funds roughly on or around February 3rd, 2025.
Upon accessing X’s social media platform, it’s evident that many users are expressing their feelings of agitation and annoyance. While a few maintain composure, the majority appear to be disgruntled and upset.
Kaushik wrote: “It’s time to stop making excuses and take action, or admit defeat. Sell your crypto holdings, help the millions in need, and move aside. I won’t tolerate any more delays. @NischalShetty, you have millions of people relying on you, so don’t underestimate that responsibility.
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2024-11-05 19:00