Wind-Down Communication Policy

1. Overview 

This policy ensures transparent, user-protective communication when discontinuing any Ingots.io product or service, with predefined safeguards for asset recovery and regulatory compliance. 

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2. Scope 

Applies to all Ingots.io offerings, including: 

  • Dual Asset Trading pairs 

  • Ingots Indexed Token 

  • MYRX Stablecoin 

  • Future products (e.g., staking, lending) 

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3. Triggers for Wind-Down 

Initiated when one or more criteria are met: 

  • Regulatory: Non-compliance unresolved after 60 days. 

  • Financial: <30% liquidity/usage sustained for 90 days. 

  • Technical: Critical vulnerabilities irreparable without service disruption. 

  • Strategic: Board-approved business pivots (with 60-day user notice). 

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4. Communication Plan 

  • Advance Notice: 60 days for strategic wind-downs; 30 days for urgent cases. 

  • Content: 

  • Clear reasons for discontinuation. 

  • Step-by-step asset recovery instructions. 

  • Channels: Email, website banners, in-app alerts, and social media. 

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5. Asset & Token Handling 

Users may: 

  • Withdraw tokens to external wallets (fee-free during wind-down). 

  • Convert eligible assets to MYRX at pre-announced rates (14-day window). 

  • Redeem fiat (MYR) via approved banking partners (processing time: 5–7 days). 

Safeguards: 

  • Auto-conversion of orphaned tokens to MYRX after 14 days. 

  • Pro-rata refunds for prepaid fees (e.g., subscriptions). 

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6. Technical Execution 

  • Modular Contracts: Sunset individual products without disrupting other services. 

  • Post-Wind-Down: 

  • Publish audit report (excluding sensitive data). 

  • Archive transaction records for 7 years (per SC Malaysia). 

  • Deploy contract locks to prevent post-termination alterations. 

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7. User Redress 

  • Claims: Losses due to wind-down (e.g., forced liquidations) may be filed via [email protected] within 30 days. 

  • Disputes: Escalated to [email protected] for arbitration within 14 days of resolution denial. 

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8. Regulatory Compliance 

Coordinated with: 

  • Malaysia: SC’s Guidelines on Digital Assets and BNM’s Stablecoin Standards. 

  • Global: Proactive alignment with MAS (Singapore), MiCA (EU), and FATF travel rules. 

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9. Disclaimer 

  • Ingots.io reserves the right to shorten notice periods for regulatory/legal mandates. 

  • Users must ensure valid withdrawal addresses/KYC to facilitate asset recovery. 

 

Effective Date: 15 April 2025 
Last Updated: 15 April 2025