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.
2. Scope
Applies to all Ingots.io offerings, including:
Dual Asset Trading pairs
Ingots Indexed Token
MYRX Stablecoin
Future products (e.g., staking, lending)
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).
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.
Dedicated support contact ([email protected]).
Channels: Email, website banners, in-app alerts, and social media.
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).
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.
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.
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.
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