WazirX Will Support the bZx Protocol Token (BZRX) Token Swap & Redenomination Plan to OokiDAO Token (OOKI)
Namaste Tribe! WazirX will support the bZx Protocol Token (BZRX) token swap and redenomination plan to OokiDAO Token (OOKI). Further details about this change are shown in the timeline below:
- BZRX offchain Deposits and withdrawals have been disabled on WazirX.
- WazirX will delist all existing BZRX spot trading pairs (BZRX/USDT and BZRX/INR) and cancel all pending BZRX spot orders on 20th December 2021 at 9:00 AM IST.
- We will recover all BZRX balances, and begin the distribution of OOKI to all eligible users at a ratio of 1 BZRX = 10 OOKI.
- Trading will then open for OOKI/USDT on 24th December 2021.
- WazirX will make a separate announcement after the token swap is completed.
- Thereafter, users will be able to use Binance’s convert function to swap their BZRX for OOKI tokens.
- OOKI will be listed under the Rapid Listing Initiative.
- Existing BZRX token holders’ percentage of ownership of the total token supply will be diluted, as the bZx Protocol DAO has voted to mint additional 23 million BZRX as part of the token swap in order to finance the token buyback of BGOV and PGOV tokens.
- The additional OOKI tokens will be transferred to the bZx Protocol DAO Treasury when the token swap is complete.
For further information, please refer to the following:
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. WazirX will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.