When we launched Smart Token Fund (STF) on August 30, 2019, our vision was to bridge the gap between novice enthusiasts wanting to invest in crypto and seasoned traders who could grow the investors’ portfolio. The past two years of STF have been amazing which makes it all the more difficult to share this news with you.
Before bringing any STF Trader onboard, we’ve performed a thorough check on their trading expertise and portfolio gains. We’ve always expected STF Traders to exercise caution when trading on behalf of investors. Of late, we’ve received several complaints from distraught investors about their losses in STF. Unfortunately, it’s extremely difficult for us to monitor each and every STF Trader’s trading strategies and fund performance.
To safeguard our users, we are sunsetting the STF feature from WazirX. You will no longer be able to buy STF tokens.
We had communicated this to all the STF Traders in advance and requested them to liquidate the funds.
Important to know for STF investors:
- We are transferring your STF underlying position to your account holdings. You can continue to hold the same position directly on your account now.
- In case, you have any Dust amount in your holdings then you can use the Dust to WRX feature available in the Funds page.
This wasn’t an easy decision for us. We’re working on a better solution and will keep you posted on the same. Thank you for your support!