WazirX just launched crypto futures with "the lowest fees in India."
0.02% maker. 0.04% taker. INR-settled perpetuals. No volume thresholds.
Nischal Shetty is personally front and center on this one.
Here's what they're NOT leading with:
→ 15% of user funds are still locked in non-tradable Recovery Tokens from the $230M Lazarus Group hack.
→ No RT buyback has been publicly reported in any quarter since restructuring began.
→ The promised DEX meant to generate recovery revenue hasn't launched.
→ Of $230M stolen, only ~$3M has been frozen.
→ WRX trades at $0.02 — down 99.64% from its ATH.
WazirX says futures profits will go toward "additional recoveries for eligible creditors."
But that's what they said about WazirX ZERO subscriptions. And the Shardeum listing. And https://t.co/MFEiiPJuYo.
The pattern:
New revenue product launches → recovery promises attached → no public reporting on whether any of it actually flows to RT holders.
Also notable: the March early access offered 20x leverage.
Today's public launch appears to cap at 10x. Someone recalibrated.
The question hasn't changed since TCT first asked it in March:
Are new products funding recovery, or is recovery funding the justification for new products?
