The tokens would be distributed to creditors with claims worth more than $5K against the platform.
, Bitfinex, and others have come up with similar ideas. Unfortunately, regardless of the optimistic language used by these struggling platforms to sugarcoat the idea, it is still essentially creating a token out of thin air while dancing around the subject of what it is replacing – lost assets.
Further documents supporting the proposal are due to be filed next week, and it would be submitted to Celsius’ creditors for a vote before being formally proposed to the judge presiding over the case.According to CelsiusFacts, an anonymous Twitter account covering the company’s court case, the tokens would be distributed to creditors with claims exceeding $5k.is looking at having a stratefied recovery smaller holders bellow 5k might get all assets to leave.
– Larger holders will get a debt token that seems to represent all the value, so you can sell if you dont believe in the company or recovery.If the information presented by CelsiusFacts is accurate, creditors with less than $5k worth of assets would be able to withdraw all their assets from the platform. If a creditor claims between $5k and $7.5k, 95%-100% of assets would be available for withdrawal, depending on the amount.
Unfortunately, for those with more than $7.5k deposited with Celsius, the proposed plan would not allow any withdrawals. These users would, unfortunately, be left with no compensation except for the recovery token.SPECIAL OFFER
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